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11109 S Michigan Ave Chicago, IL 60628

Retail space Google Maps
11,400 SF 0.12 ac lot Built 1892
Entity Owned 3-yr Hold Free & Clear
Estimated value (blended)
$100k
Range $90k – $110k (±10%)
Property ID US28-1405556

Property summary

AI-generated overview

This 10,200-square-foot single-tenant warehouse, located at 11109 S Michigan Ave in Chicago, IL (60628), presents a compelling opportunity. Situated on a 10,200-square-foot lot, this Class C building boasts a main floor and lower level, each spanning 5,100 square feet. Built in 1920 and renovated in 2000, the property features alley access to both floors, providing convenient loading and unloading. The building is zoned B1-3 and benefits from a generous gross lease of $4,500 per month, inclusive of water, property taxes, and building insurance. The property includes a private office, one bathroom, and dual central heating and air conditioning. Its prime location on busy South Michigan Avenue, near O'Reilly Auto Parts, Dollar General, Boost Mobile, and Union Bank, ensures high visibility and foot traffic. Ample street parking is available. The building's spacious layout and convenient features make it suitable for various retail uses, including furniture, clothing, and online resale businesses. The dry basement offers substantial storage capacity. This is a rare opportunity to acquire a well-located, functional warehouse space in a thriving retail district. The property has zero parking spaces and no elevators. Cook County taxes are included in the lease.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1892
Total area 11,400 SF
Lot 0.12 ac (5,250 SF)
APN 25-22-102-006
UPID US28-1405556

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Discount Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$105k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$100k

Owner & transaction history

since 2022
Last sale
$125,000
3 recorded transactions
2022
$125,000
2010
Price N/A
2001
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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