8714 S. Commercial Ave. — Sale in Chicago, IL

  • Price: $450K
  • Listing type: For sale
  • Asset type: Business
  • Location: Chicago, IL 60617
  • Size: 5,349 SF
  • Year built: 1900

Investment Figures

Price per square foot
$84

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Presented by Midwest Investment Advisors with KW Commercial & Keller Williams ONEChicago 8714 S. Commercial Ave. is a mixed-use retail and residential value-add opportunity located in Chicago’s 60617 area. The property is being offered at $450,000 with a $25,000 buyer credit that may be applied toward the remaining renovation scope, subject to the terms of the purchase agreement. The asset consists of a 1,100-square-foot street-level retail storefront and five residential apartments, providing investors with a diversified income profile supported by neighborhood-serving retail and workforce housing demand. With three residential units and the retail storefront currently positioned for lease-up, the property offers a clear path to near-term income while the remaining apartments are completed and brought online. Lease the completed residential units and storefront, use the resulting operating momentum to reduce carrying costs, and complete the remaining residential renovations to achieve stabilized occupancy and cash flow. Residential and Retail Components The residential component includes: Three 2BR/1BA apartments that are move-in ready Two 3BR/1BA apartments requiring completion One 1,100-square-foot retail storefront that is move-in ready The two unfinished 3BR/1BA apartments require additional interior improvements, including drywall, kitchen cabinetry, appliances, finishes, and related completion work. The remaining renovation budget is estimated at $50,000. With the seller offering a $25,000 credit, the buyer’s remaining estimated renovation exposure is reduced to $25,000, providing a more attractive basis and a defined path toward stabilization. Rather than deploying the full renovation budget before generating income, the buyer can sequence the remaining work while leasing the completed portions of the property. At stabilization, the property is projected to generate: Pro Forma Gross Revenue: $92,400 Effective Gross Revenue: $89,112 Pro Forma Net Operating In

Market Context

This commercial property in Chicago, IL is listed for sale at $450,000 across 5,349 SF ($93/SF). The building dates to 1900. It has been on the market for 72 days. Compare it against other commercial property listings for sale in Chicago, IL — view the full market.

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