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    FOR SALE
    Strip malls

    18660 Dixie Hwy Homewood, IL 60430

    24,634 SF Built 1959
    Property ID
    US28-Q021435
    18660 Dixie Hwy, Homewood, IL 60430 For Sale 1 / 53
    $1,690,000 24,634 SF
    18660 Dixie Hwy, Homewood, IL 60430
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    Property summary
    AI-generated overview

    Rare opportunity to own a well-established strip mall in the heart of Homewood, conveniently located just steps from the Metra train station and approximately 35 minutes from downtown Chicago. This multi-unit commercial property features 11 business suites with a strong mix of long-standing tenants, including an auto repair shop (25+ years), former bakery (50+ years, closed during COVID but still equipped), photo salon, dry cleaner (equipment included), insurance agency, and more. The property also offers 3 vacant units, ideal for an owner-user or additional rental income. 2024 gross income of $150,000, with upside potential to $200,000-$250,000 as rents are brought to market. All-new roof installed in 2025, providing added value and reduced future expenses. Additional highlights include over 50 parking spaces and a single-family home converted to office use, which can be reverted back to residential if desired. Zoned commercial with multiple use possibilities. Family-owned for 70 years, this property presents a solid investment with stable cash flow and strong upside potential.

    Property profile
    Verified
    Property type Strip malls
    Year built 1959
    Total area 24,634 SF
    UPID US28-Q021435
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
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    Zoning & alternative use
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    18660 Dixie Hwy, Homewood, IL, 60430
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