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
AVG $260K
$1.25M
Taxes
AVG $6,342
$162,820
Visits
AVG 41
339
Year Built
AVG 1967
1968
Walkscore
AVG 58
75
Data Provided by Walkscore ® not using MLS data

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