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    Property profile & analytics
    FOR LEASE
    Residential income homes

    3201 Union Ave Steger, IL 60475

    7,200 SF 0.07 ac lot Built 1975
    Entity Owned 3-yr Hold Free & Clear
    Property ID
    US28-0938373
    3201 Union Ave, Steger, IL 60475 For Lease 1 / 59
    $2,700/Mo 10,950 SF available
    3201 Union Ave, Steger, IL 60475
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    Property summary
    AI-generated overview

    This mixed-use property, located at 3201 Union Avenue in Steger, Illinois, presents a compelling value-add investment opportunity. The 10,950 square foot, two-story building sits on a 0.42-acre lot and features a blend of retail/office and residential space. The ground floor comprises two retail/office units with private entries, benefiting from high visibility and monumental signage on Union Avenue. Upstairs, two three-bedroom, two-bathroom apartments provide rental income. A recently remodeled lower level, boasting 9-foot ceilings, an open concept layout, kitchenette, and restrooms, offers additional potential for lease or owner-use. The property includes ample parking with approximately 36 spaces distributed across the front, side, and fenced rear areas. Built in 2018, the building is currently 67% occupied and is classified as Class C. The property is zoned B-1 and offers excellent access to major transportation arteries, including the Bishop Ford Freeway, I-94, I-80, and I-57. Its location in Steger, Cook County, places it approximately 35 miles south of Chicago and 5 miles from the Indiana border. The asking price is $650,000, translating to $59.36 per square foot. This represents a below-replacement-cost opportunity with significant potential for increased rental income and property value through lease-up of vacant spaces and further improvements. The property is a multi-tenant building with a modified lease type.

    Property profile
    Verified
    Property type Residential income homes
    Use group APARTMENT HOUSE (UNDER 5 UNITS)
    Year built 1975
    Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Total area 7,200 SF
    Lot 0.07 ac (3,125 SF)
    APN 32-33-318-003
    UPID US28-0938373
    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
    Current use
    Occupant on record · Public records
    • National Youth Advocate Program Child Welfare Organization Charitable Organization
    • Space 225 Hotel & Motel Resort
    • creative touch nail spa Nail Salon
    • Touched by Tricie Alternative Medicine Practice Spa & Massage Center
    4 occupants on record
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
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    CAP Approach CAP
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Kingdom Realty Holdings LLC · 3 yrs held
    Kingdom Realty Holdings LLC
    since 2022
    Last sale
    $120,000
    7 recorded transactions
    2022
    Price N/A
    2018
    $120,000
    2001
    $330,000
    1998
    $197,000
    1998
    Price N/A
    1969
    Price N/A
    1969
    Price N/A
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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