Property for Sale: 414 E 71st, Chicago, IL 60619

$525,000
$525,000
414 E 71st, Chicago, IL 60619
$525,000
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Price:
$525,000
$20,000 - 11/04/2024

Type Commercial
Year Built 1915

City Chicago
County Cook

MLS 12002638
Status Active
Incredible cash flowing strip center that is already producing a 12.5% Cap Rate. This is a prime three unit commercial corner property successfully run as a neighborhood street level retail center with longtime laundromat, nail salon and beauty supply tenants. Two tenants just executed three-year leases with 4% annual escalation while the third just signed a five-year lease with 3% annual escalations. Tenants pay for all utilities. This 100% occupied 4,800 SF freestanding three-unit building has 148 ft 71st Street frontage. Located in the Park Manor area of the Greater Grand Crossing community 9 miles south of the Loop. Easy access to the Eden's Expressway and The Skyway. Nearby intersection has 25,000+ VPD. Zoned B3-1 - Community Shopping District. Located in the 67th/Wentworth TIF District. The district is intended to foster new residential, commercial, and mixed-use development investment opportunities. Other grant options are possible, such as the Neighborhood Opportunity Fund and the R3 Grant.

Lot & Building Features

Cooling Central Air
Tax Year 2023
Lot Dimensions 148X40 ft

Price History of 414 71st, Chicago, IL

Date Name Price Difference
11/04/2024 Price Adjustment $525,000 3.67%
04/10/2024 Price Adjustment $545,000 0.91%
12/31/1969 Listing Price $550,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
Photo of Christopher Butler
Direct: 708-601-1516
Office
3580 W 95th Street
Evergreen Park, IL 60805
708-422-0011
Listed by Be Realty, LLC, Mikus Kins
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414 71st (MLS #12002638) is a commercial listing located in Chicago, IL. This property was listed on 03/12/2024 and has been priced for sale at $525,000.

Nearby zip codes are 60620, 60621 and 60637.

Midwest Real Estate Data

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

All information provided is deemed reliable but is not guaranteed and should be independently verified.

Listing information courtesy of: Be Realty, LLC