1859 East 87th Street

Chicago, IL 60617

$650,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Prime Chicago Commercial Investment Opportunity ! This is your chance to invest in the heart of Chicago! Presenting a unique and lucrative investment property that combines the best of both worlds: Six spacious, well-appointed apartments and Six versatile storefronts, all under one roof! This property offers the perfect blend of residential and commercial income. This South Side property has excellent foot traffic, it's located on a main well known Street. This location is surrounded by numerous...Prime Chicago Commercial Investment Opportunity ! This is your chance to invest in the heart of Chicago! Presenting a unique and lucrative investment property that combines the best of both worlds: Six spacious, well-appointed apartments and Six versatile storefronts, all under one roof! This property offers the perfect blend of residential and commercial income. This South Side property has excellent foot traffic, it's located on a main well known Street. This location is surrounded by numerous restaurants, shops, and public transpiration ! All 6 apartments feature 1 bedroom, 1 bath and all similar updates. All 6 apartments are rented and are bringing in income . All 6 versatile storefronts feature large display windows, ideal for entrepreneurs and business looking for prime retail or office space . Each storefront features high visibility and great rental income. 4 Storefronts are leased , 2 are ready for you to bring your vision to life . There are currently two beauty shops, a real estate office, and a mailing center. With a strong rental history and the thriving location, this property promises excellent cash flow and long-term growth potential for investors . The combination of residential and commercial spaces diversifies your income streams, making a robust investment opportunity. Don't miss out on this amazing investment opportunity . Contact me today to schedule a viewing and explore the the potential of this unique property. This property is being sold as is !
  1. Listed by Kristen Roussev • Keller Williams Preferred Rlty
  2. Listed by Rhonda Gilmore • Keller Williams Preferred Rlty

Property Details for 1859 East 87th Street

Area
CHI - Calumet Heights
LISTING UPDATED: 11/13/2024 11:35 AM

Property Details for 1859 East 87th Street

StatusActive
MLS #11983600
Days on Market326
Taxes$5,062 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1963
Lot Size0.09 AC / 4,070 SF
CountyCook County

Building Information for 1859 East 87th Street

Stories2Residences12Year Built1963Lot Size0.09 AC / 4,070 SF

Property Information for 1859 East 87th Street

General Information
Location and General Information
  • Geographic Locale: Chicago South
  • Information: 24-Hr Notice Required,List Broker Must Accompany
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Window Unit(s)
  • Electric: Circuit Breakers
  • Heat/Ventilation: Gas
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 6
Property/Lot Information
  • Tenant Pays: Electricity, Sewer
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 4,070
  • Lot Size Square Feet: 4070.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Fire Protection: Alarm On Site
  • Building Area Total: 2900
  • # Of Offices: 0
  • # Of Stores: 6
  • Property Sub Type: Apts/Stores
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 21
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 12
Income & Expenses
  • Electric Expense: $62.00
  • Fuel Expense: $552.00
  • Gross Income: $108,840.00
  • Gross Scheduled Income: $108,840.00
  • Insurance Expense: $368.00
  • Total Monthly Income: 9070
  • Net Operating Income: $89,736.00
  • Operating Expense: $19,104.00
  • Other Expense: $.00
  • Trash Expense: $153.00
  • Water Sewer Expense: $454.00

Property History for 1859 East 87th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1859 East 87th Street

Taxable ValueLand$3,663Additions$17,325Total$20,988
Tax Record2022$5,062 ($422 / month)
Home Facts
Total Finished SqFt2,900 SqFtAbove Grade Finished SqFt2,900 SqFtStories2Lot Size4,070 SqFtStyleStoresYear Built1961CountyCOOKAPN25-01-107-010

Schools near 1859 East 87th Street

This home is within Chicago Public Schools.
Rating
School
Type
Grades
Distance
Public - K to 8
Charter - 9 to 12
Charter - K to 8
Charter - K to 8
Rating
School
Distance
Black Magnet Elementary School
PublicK to 8

YCCS-Sullivan House Alt HS
Charter9 to 12

CICS Avalon
CharterK to 8

Great Lakes Academy
CharterK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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1859 East 87th Street is a mixed use property for sale in Chicago, IL 60617. This property was listed for sale on February 16, 2024 by Keller Williams Preferred Rlty, it's currently listed at $650,000. This listing's school district is Chicago Public Schools. Nearby schools include Black Magnet Elementary School, YCCS-Sullivan House Alt HS and CICS Avalon. 1859 East 87th Street is a 0-bed, 0-bath, mixed use property built in 1963.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Preferred Rlty

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 11/13/2024 11:35 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.