Chicago Heights, IL 60411 1531 Western Avenue
$275,000
20 more
Presented By: Coldwell Banker Realty
SQFT • 17,206
Home Details
**Massive Price Reduction** on this large 7-unit Commercial Space situated in a high traffic area with more than 3 (three) Acres that can be used for expansion. Many long-term tenants include Harold's Chicken, a Cell phone store and Hair businesses. The property offers 40 parking spaces, central air and great exposure for tenants. Savvy investors with vision will see the opportunities of this nicely situated high-traffic commercial space whether breaking ground on a new mixed-use development, adding an RV Park, storage, restaurants, and much more. This property offers a 15 proforma cap rate before improvements with plenty of room to grow!
Presented By: Coldwell Banker Realty
General for 1531 Western Avenue
Additional Parcels Y/NNo
Assoc Fee Paid PerNot Applicable
Business TypeRetail
CityChicago Heights
Construction MaterialsBrick, Glass
CoolingCentral Air, Zoned
CountyCook
Current UseCommercial
DirectionsE / W to Western N /S to address
ElectricCircuit Breakers, Separate Meters, Service - 201 to 600 Amps, Over 600 Amps
Electric Expense1800
Fuel Expense1800
Gross Income217094
Insurance Expense4600
Leasable Area6000
Lease TypeGross
Lot Size Square Feet142005
MLS AreaChicago Heights
Net Operating Income47646
Number Of Units Total7
Operating Expense108388
PossessionClosing, Immediate
Property TypeCommercial Sale
Property TypeRetail/Stores
Standard StatusActive
StatusActive
Stories Count1
Tax Annual Amount125248
Tax Year2024
Tenant PaysAir Conditioning, Electricity, Heat
TownshipRich
Trash Expense2800
UtilitiesElectric to Site, Natural Gas Available, Sewer Connected
Water Sewer Expense3000
Year Built1953
ZoningCOMMR
Exterior for 1531 Western Avenue
Building Area Total17206
Frontage TypePrivate Road, Public Road
Lot Dimensions3.26
Water SourceMunicipal Water
Additional Details
Price History
