Chicago, IL 60619 1401 E 87th Street
$390,000



0 more
Presented By: @properties Christie's International Real Estate
Home Details
Well-maintained 10,375 SF mixed-use investment property located along the high-traffic 87th Street commercial corridor. The building offers 6,058 SF of improved space, featuring ground-floor office suites and two residential units above. The first floor is comprised of two occupied medical offices plus an approximately 800 SF vacant suite, freshly painted and move-in ready-ideal for an owner-user or additional rental income. The office suites are interconnected and may be utilized by a single tenant or leased separately to multiple users. The second floor includes two residential apartments: one vacant 1-bed/1-bath unit and one 3-bed/2-bath unit, occupied by a long-term tenant. The property provides 14 on-site parking spaces, a significant asset for both commercial and residential users. Strategically located with easy access to the Dan Ryan Expressway, CTA Red Line, CTA Bus Route #87, and Metra. Surrounding area features strong national and regional tenancy, including McDonald's, O'Reilly Auto Parts, Clark's gas station, and a nearby strip center anchored by Athletico, T-Mobile, Wingstop, H&R Block, and Pete's Produce. With below-market rents, stable long-term tenancy, and approximately 13,500 vehicles per day along 87th Street, this solid mixed-use asset presents an excellent value-add investment opportunity in a proven commercial corridor.
Presented By: @properties Christie's International Real Estate
General for 1401 E 87th Street
Additional Parcels Y/NNo
CityChicago
Construction MaterialsBrick
ContingencyFinancing
CoolingCentral Air, Window Unit(s)
CountyCook
Directions87th Street to S. Dorchester. Building is on the southeast corner.
ElectricCircuit Breakers, Service - 101 to 200 Amps
Electric Expense2006
Fuel Expense
Gross Income6500
Insurance Expense5755
Lot Size Square Feet4125
MLS AreaCHI - Calumet Heights
Net Operating Income44636
Number Of Units Total5
Operating Expense33364
PossessionClosing
Property SubtypeMixed Use
Property TypeCommercial Sale
Property TypeMixed Use
Standard StatusActive Under Contract
StatusContingent
Stories Count2
Tax Annual Amount5191
Tax Year2024
Tenant PaysElectricity
TownshipHyde Park
Trash Expense0
Water Sewer Expense0
Year Built1958
Exterior for 1401 E 87th Street
Building Area Total6826
BuyerOfficeFax(708) 460-1419
Lot Dimensions4125
Additional Details
Price History

SQFT • 6,826