1206 127th St Riverdale, IL 60827
- Retail space
- 0.06 lot acres
Jan 18, 2024
Current Use by Public Records
- Retail space
Property Details for 1206 127th St
- Year built
- 1961
- Lot size
- 0.06 lot acres
- Property type
- Retail space
- APN
- 25-29-328-042
- APU
- 2529328042
Description
This vacant, 1,959 square foot commercial building presents a compelling redevelopment opportunity in Calumet Park, Illinois. Located at 1206 W 127th St, this fee-simple property, situated on a 2,500 square foot lot, is a bank-owned foreclosure, available for $50,000. Built in 1961, the Class C building is zoned C2 and offers significant potential for various uses, including daycare, restaurant, or storefront. The property is currently vacant with an occupancy date of October 9, 2024, and features a triple net (NNN) lease type. Its prime location between I-57 and I-94 provides excellent access to major expressways and public transportation, including CTA and Metra Electric. High visibility is ensured by daily traffic counts exceeding 16,500 vehicles on nearby Ashland Avenue. The property benefits from its position within a Tax Increment Financing (TIF) district, potentially offering financial incentives for redevelopment. The surrounding area is experiencing revitalization, attracting businesses and residents, creating a strong potential customer base. This property is sold as-is
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Riverdale
- County
- Cook
- State
- Illinois
- Longitude
- -87.6517
- Latitude
- 41.6633
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
