17524 Carriageway Dr, Hazel Crest, IL 60429-2187
- Retail space
- 11,081 SF
- 0.97 lot acres
Current Use by Public Records
- Neomedica Clinic / Medical Group
- Hazlecrest / Medical Group
- Harkins Productions Inc / Recording Studio
Property Details for 17524 Carriageway Dr
- Year built
- 1980
- Lot size
- 0.97 lot acres
- Property type
- Retail space
- APN
- 28-36-100-017
- APU
- 2836100017
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 29, 2025 | — | Rockford 550 LLC | — | Deed · related | $1.1M · Centier Bank |
| May 29, 2013 | — | Rockford 550 LLC | — | Deed Of Trust · related | $4.3M · Everbank |
| Feb 27, 2008 | $1,149,000 | Rockford 550 LLC | Renal Investment Props LLC | Grant Deed | $9.9M · National City Bank |
| Oct 12, 1999 | $575,000 | Renal Investment Properties Ll | Sklarov,sharon | Grant Deed | — |
| — | — | Renal Investment Props LLC | — | Deed Of Trust · related | $473k · Lasalle National Bank |
| — | — | Rockford 550 LLC | — | Deed Of Trust · related | $9.9M · Pnc Bank |
| — | — | Renal Investment Properties | — | Deed Of Trust · related | $664k · Lasalle National Bank |
Description
This exceptional investment opportunity presents a 7,002 square foot Class A medical office condominium in Hazel Crest, Illinois. Located at 17524 E Carriageway Dr, this single-story building, constructed in 1983, boasts a stabilized investment profile with a strong 8.00% cap rate and a Net Operating Income (NOI) of $123,629 in year one. The property is currently leased to Fresenius Kidney Care under a triple-net (NNN) lease commencing March 1, 2023, and expiring February 27, 2033, with a five-year lease option. The lease includes a 10% rent increase every five years, ensuring consistent income growth. Recent improvements include new perimeter fencing, parking lot repairs, seal coating, striping, and a complete building repainting and caulking. The property features ample parking (5 spaces per 1,000 sq ft) and is situated on a 7,002 sq ft condominium unit within a larger building. The property's Cook County APN is 092923320006. This prime location offers excellent potential for long-term growth and strong returns, making it an ideal addition to any investment portfolio. The property is a condominium ownership.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,404,000
- AI Estimate
- $897,000
Market price range: $775k - $3.00MMarket price range: $465k - $1.70M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,650,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $1,840,000 Change: +11% Conversion: Difficult
- OFFICE BUILDING
- $1,480,000 Change: -10% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,345,000 Change: -19% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Hazel Crest
- County
- Cook
- State
- Illinois
- Longitude
- -87.6909
- Latitude
- 41.5703
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
