Chicago, IL 60653 3957 S King Drive

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Presented By: Keller Williams ONEChicago
  • MLS# 12217779
  • 11/27/2024
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  • SQFT • 25,426

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Excited to present an exclusive opportunity to acquire a single office/retail condo located in the vibrant neighborhood of Bronzeville, Chicago. Property Details: Location: 3957 S. King Dr. Condo B, Chicago, IL 60653 Square Footage: 900 SF List Price: $350,000 Price per SF: $389/SF Zoning: Commercial B3-3 Current Tenant: Month-to-month lease, paying $1,300/month Pro Forma Rent: $1,500/month Investment Highlights: Location: This retail condo is situated in the historic Bronzeville neighborhood of Chicago, a thriving community known for its cultural significance and revitalization efforts. The area benefits from high foot traffic and proximity to public transportation, local businesses, and residential developments, making it an ideal location for retail tenants. Current Income: The property is currently leased to a tenant on a month-to-month basis, paying $1,300 per month ($15,600 annually). This arrangement provides flexibility for an investor to renegotiate or secure a long-term lease at market rates. Pro Forma Income: The projected market rent for this retail space is $1,500/month, which would generate $18,000 annually. This increase offers an immediate value-add opportunity for an investor looking to boost cash flow. Strong Price per SF: At $389/SF, this property is competitively priced for the Bronzeville market, offering long-term appreciation potential as the neighborhood continues its growth trajectory. Financial Overview: Current Gross Annual Income: $15,600 Pro Forma Gross Annual Income: $18,000 Potential Upside: With a pro forma rent increase of $200/month, the annual rental income could increase by $2,400. Market & Neighborhood Outlook: Bronzeville is experiencing ongoing redevelopment and investment, making it a highly desirable location for retail and mixed-use properties. The retail condo is well-positioned to benefit from the area's growth, driven by new residential projects, cultural attractions, and retail demand. Investors can capitalize on the neighborhood's upward trend while enjoying stable rental income and long-term appreciation. Investment Summary: This 900 SF retail condo at 3957 S. King Dr. Condo B presents a solid investment opportunity with existing cash flow and potential for rental growth. At $350,000, the price is favorable for investors seeking to acquire retail space in a vibrant and growing Chicago neighborhood. With the potential to secure a long-term tenant at a higher rate, the property offers both short-term income and long-term value appreciation.
Presented By: Keller Williams ONEChicago

General for 3957 S King Drive

Additional Parcels Y/NNo
CityChicago
CoolingCentral Air
CountyCook
DirectionsContinue on I-290 E. Take I-90 E/I-94 E to S Wentworth Ave. Take exit 55B from I-90 E/I-94 E Continue on S Wentworth Ave. Take W Pershing Rd to S King Dr/S Martin Luther King Dr
ElectricOther
Gross Income15600
Leasable Area900
Lease TypeN/A
Lot Size Square Feet25426
MLS AreaCHI - Grand Boulevard
Net Operating Income15600
Number Of Units Total1
Operating Expense0
Property TypeCommercial Sale
Property TypeOffice/Tech
Standard StatusActive
StatusActive
Stories4
Tax Annual Amount4487.52
Tax Year2023
Tenant PaysTaxes
Year Built1916

Exterior for 3957 S King Drive

Building Area Total25426
Lot Dimensions900

Additional Details

Price History

Client Care

Price $180,000
MLS#12217779
List Date 11/27/2024
Property Type Commercial
Phone 847.485.2500
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