Property Details for 1488 Aberdeen St

Year built

1961

Property size

2,516 SF

Property type

Storefront properties

Property subtype

Office Units

Description

This small commercial/retail storefront or office space, located in Chicago Heights’ B5 Central Business District, is supported by recent market data and listings. Average asking rents are established annually on a per–square-foot basis, depending on the landlord. The income approach was used to determine the property’s value (price), which aligns with the market-supported rental potential. About the Building This brick, single-level commercial property consists of a total of 2,519 sq. ft. , divided into three units , each approximately 840 sq. ft. , depending on interior configuration. A typical vacancy allowance was applied, the Effective Gross Income (EGI) was calculated, and standard operating expenses for Chicago Heights commercial property were used. A typical Chicago Heights commercial cap rate was also applied. Because there are no true comparable sales, the income approach was the appropriate and primary valuation method , and it supports the current pricing. The City of Chicago Heights requires a few minor repairs, and the buyer will need to place a small escrow to cover those items. Bottom Line Market rents fully support the income approach used for pricing, confirming that the property is fairly and accurately priced . This is an exceptional and rare opportunity to own a brick, single-level commercial property featuring three distinct retail or office units—perfect for investors, entrepreneurs, or owner-occupants. Property Highlights Flexible Layout for Multiple Businesses The building features eight rooms distributed across the three units, each with its own private entrance and exit. One unit includes a dedicated conference room suitable for meetings, co-working, or group activities—ideal for professional services, wellness providers, community services, boutique retail, or medical-related uses. Prime Location for Community Engagement The property sits in the heart of the Chicago Heights Central Business District , with quick access to Lincoln Highway (US-30) and Aberdeen Street. It is surrounded by key community anchors—including the public library, the park district facility, and newly built affordable housing for veterans—providing a built-in customer and client base for a wide range of businesses. Chicago Heights has a long-standing reputation for assisting business owners through local and state financial incentives and tax abatement programs, helping businesses thrive and expand. Opportunity for Owner-Occupancy This property is ideal for buyers who wish to occupy one unit while leasing the others, maximizing both investment returns and entrepreneurial opportunity—a strong way to establish a business presence while generating rental income.

Location Insight

City

Chicago Heights

County

Cook

State

Illinois

Longitude

-87.6425815

Latitude

41.5044952