Foreclosure
Address
6421 W 87th Street Oak Lawn, IL
Price
$ 1,249,000
Property Attributes
- MLS#11303990
- TypeContingent
- CountyCOOK
- CityOak Lawn
- AreaOak Lawn
- NeighborhoodLittle Palestine
- Zip60453
- StyleCommercial,Office
- Year Built1968
- Taxes$ 162820
- Price$ 1,249,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage15687
- Lot Size1.10399 Acres
Listing Provided Courtesy Of:
L & B All Star Realty Advisors LLC
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Available for sale, seven unit, retail/office strip center with 15,687 square feet of gross leasable space. Situated at the southwest corner of 87th Street and Ridgeland Avenue in Oak Lawn, IL., adjacent to a high traffic count thoroughfare. Currently five of the units are leased, with one additional unit on a temporary occupancy, and another vacant. Units vary from 1200 sqft to 5817 sqft in area. All units have separate heating and electric utilities. The property site is 1.104-acres, with 62 surface parking spaces. An ideal property for owner occupant who needs a large space, or for future income investment. Projected net third-year income with stabilized tenancy is at $167,600. Oak Lawn, IL. is located in Cook County, and situated 13 miles southwest of downtown Chicago. One of the largest municipalities in Cook County, many of its thoroughfares are considered the county's busiest.
| Price History | |
|---|---|
| 1/14/2022 | Listed $1,249,000 |
General Features
| Additional Parcels Y/N | No |
|---|---|
| City | Oak Lawn |
| Construction Materials | Brick, Other, Pre-cast |
| Contingency | Financing |
| Cooling | Central Air |
| County | Cook |
| Current Use | Commercial, Office |
| Days on Market | 58 |
| Directions | Route 43 to 87th St east or Route 50 west to 87th St. Located on the southeast corner of Ridgeland Ave and 87th St. |
| Electric | Circuit Breakers, Separate Meters |
| Grossincome | 319974 |
| Insurance Expense | 11184 |
| Leasable Area | 15687 |
| Lease Type | Modified Gross |
| Lot Size Square Feet | 48090 |
| MLS Area | Oak Lawn |
| Net Operating Income | 167585 |
| Operatingexpense | 270472 |
| Property SubType | Strip Center |
| Property Type | Retail/Stores |
| Property Type | Commercial Sale |
| Roof | Membrane |
| Standard Status | Active Under Contract |
| Status | Contingent |
| Stories | 1 |
| Street Name | 87th |
| Tax Annual Amount | 162820 |
| Tax Year | 2020 |
| Tenant Pays | Common Area Maintenance, Electricity, Heat, Janitorial Service, Taxes, Scavenger, Varies by Tenant |
| Total Units | 7 |
| Township | Worth |
| Year Built | 1968 |
| Zoning | COMMR |
Interior Features
| Street Suffix | Street |
|---|
Exterior Features
| Building Area Total | 15687 |
|---|---|
| Exterior | Brick, Stucco |
| Foundation Details | Concrete Perimeter |
| Lot Dimensions | 344X240X218X125X38X115 |
| Total Parking | 62 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Contingent Average in 60453
Price
Taxes
Visits
Year Built
Walkscore
