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401-417 E Oakwood Blvd - Grand Terrace Apartments
900 SF Office/Retail Unit Offered at £274,543 in Chicago, IL 60653
Investment Highlights
- Unlock Value in Vibrant Bronzeville: Cash Flow Today, Growth Tomorrow!
- $350K Opportunity: Stable Income & Upside in Historic Bronzeville.
- High-Traffic Location, Flexible Lease: Invest in Chicago's Thriving Future!
Property Facts
1 Unit Available
Unit B
| Unit Size | 900 SF | Sale Type | Investment or Owner User |
| Price | £274,543 | Net Initial Yield | 4.46% |
| Price Per SF | £305.05 | NOI | £12,236.80 |
| Unit Use | Office/Retail | APN/Parcel ID | 20-03-203-034-1002 |
| Unit Size | 900 SF |
| Price | £274,543 |
| Price Per SF | £305.05 |
| Unit Use | Office/Retail |
| Sale Type | Investment or Owner User |
| Net Initial Yield | 4.46% |
| NOI | £12,236.80 |
| APN/Parcel ID | 20-03-203-034-1002 |
Description
The Midwest Investment Advisors with KW Commercial & Keller Williams ONEChicago is excited to present an exclusive opportunity to acquire a single office/retail condo located in the vibrant neighborhood of Bronzeville, Chicago.
Property Details: Location: 3957 S. King Dr. Condo B, Chicago, IL 60653
Square Footage: 900 SF
List Price: $350,000
Price per SF: $389/SF
Zoning: Commercial B3-3
Current Tenant: Month-to-month lease, paying $1,300/month
Pro Forma Rent: $1,500/month
Investment Highlights:
Location: This retail condo is situated in the historic Bronzeville neighborhood of Chicago, a thriving community known for its cultural significance and revitalization efforts. The area benefits from high foot traffic and proximity to public transportation, local businesses, and residential developments, making it an ideal location for retail tenants.
Current Income: The property is currently leased to a tenant on a month-to-month basis, paying $1,300 per month ($15,600 annually). This arrangement provides flexibility for an investor to renegotiate or secure a long-term lease at market rates.
Pro Forma Income: The projected market rent for this retail space is $1,500/month, which would generate $18,000 annually. This increase offers an immediate value-add opportunity for an investor looking to boost cash flow. Strong Price per SF: At $389/SF, this property is competitively priced for the Bronzeville market, offering long-term appreciation potential as the neighborhood continues its growth trajectory.
Financial Overview:
Current Gross Annual Income: $15,600
Pro Forma Gross Annual Income: $18,000
Potential Upside: With a pro forma rent increase of $200/month, the annual rental income could increase by $2,400.
Market & Neighborhood Outlook: Bronzeville is experiencing ongoing redevelopment and investment, making it a highly desirable location for retail and mixed-use properties. The retail condo is well-positioned to benefit from the area's growth, driven by new residential projects, cultural attractions, and retail demand. Investors can capitalize on the neighborhood's upward trend while enjoying stable rental income and long-term appreciation.
Investment Summary: This 900 SF retail condo at 3957 S. King Dr. Condo B presents a solid investment opportunity with existing cash flow and potential for rental growth. At $350,000, the price is favorable for investors seeking to acquire retail space in a vibrant and growing Chicago neighborhood. With the potential to secure a long-term tenant at a higher rate, the property offers both short-term income and long-term value appreciation.
Sale Notes
The Midwest Investment Advisors with KW Commercial & Keller Williams ONEChicago is excited to present an exclusive opportunity to acquire a single office/retail condo located in the vibrant neighborhood of Bronzeville, Chicago.
Property Details: Location: 3957 S. King Dr. Condo B, Chicago, IL 60653
Square Footage: 900 SF
List Price: $350,000
Price per SF: $389/SF
Zoning: Commercial B3-3
Current Tenant: Month-to-month lease, paying $1,300/month
Pro Forma Rent: $1,500/month
Investment Highlights:
Location: This retail condo is situated in the historic Bronzeville neighborhood of Chicago, a thriving community known for its cultural significance and revitalization efforts. The area benefits from high foot traffic and proximity to public transportation, local businesses, and residential developments, making it an ideal location for retail tenants.
Current Income: The property is currently leased to a tenant on a month-to-month basis, paying $1,300 per month ($15,600 annually). This arrangement provides flexibility for an investor to renegotiate or secure a long-term lease at market rates.
Pro Forma Income: The projected market rent for this retail space is $1,500/month, which would generate $18,000 annually. This increase offers an immediate value-add opportunity for an investor looking to boost cash flow. Strong Price per SF: At $389/SF, this property is competitively priced for the Bronzeville market, offering long-term appreciation potential as the neighborhood continues its growth trajectory.
Financial Overview:
Current Gross Annual Income: $15,600
Pro Forma Gross Annual Income: $18,000
Potential Upside: With a pro forma rent increase of $200/month, the annual rental income could increase by $2,400.
Market & Neighborhood Outlook: Bronzeville is experiencing ongoing redevelopment and investment, making it a highly desirable location for retail and mixed-use properties. The retail condo is well-positioned to benefit from the area's growth, driven by new residential projects, cultural attractions, and retail demand. Investors can capitalize on the neighborhood's upward trend while enjoying stable rental income and long-term appreciation.
Investment Summary: This 900 SF retail condo at 3957 S. King Dr. Condo B presents a solid investment opportunity with existing cash flow and potential for rental growth. At $350,000, the price is favorable for investors seeking to acquire retail space in a vibrant and growing Chicago neighborhood. With the potential to secure a long-term tenant at a higher rate, the property offers both short-term income and long-term value appreciation.
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
zoning
| Zoning Code | B3-3 |
| B3-3 |
-
Tony Hardy -
Travis Montgomery -
Tracii Randoph -
Midwest Investment Advisors
Presented by
401-417 E Oakwood Blvd - Grand Terrace Apartments
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