7242 Roosevelt Rd

Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Excellent Mixed-Use Investment Opportunity in Forest Park! Well-maintained mixed-use building featuring 3 spacious 1BR/1BA apartments above a ground-floor commercial space currently operating as a laundromat. The residential units offer large rooms and comfortable layouts that appeal to long-term tenants seeking convenient suburban living with easy access to Chicago. The laundromat tenant owns the business and is in the final six months of their lease, creating a unique opportunity for a new owner....Excellent Mixed-Use Investment Opportunity in Forest Park! Well-maintained mixed-use building featuring 3 spacious 1BR/1BA apartments above a ground-floor commercial space currently operating as a laundromat. The residential units offer large rooms and comfortable layouts that appeal to long-term tenants seeking convenient suburban living with easy access to Chicago. The laundromat tenant owns the business and is in the final six months of their lease, creating a unique opportunity for a new owner. The existing tenant has expressed willingness to sell the laundromat business in a separate transaction, offering the potential for an owner-operator or additional income stream. This property benefits from a high-visibility location along Roosevelt Road and strong neighborhood amenities. Residents enjoy easy access to shopping including Jewel-Osco, Walmart, and the Forest Park Plaza shopping area, all within walking distance. Outdoor recreation is nearby at Maple Park, just a few blocks away. The property is also well positioned; located just minutes from several universities including Concordia University Chicago, Dominican University, and Triton College, all within a short drive. Commuting is convenient with quick access to the Chicago Blue Line via the nearby Forest Park Station, plus easy connections to I-290 highway and multiple bus routes. 400-amp electrical service, emergency lighting and exit signage in the laundromat, rear office space within the commercial unit. Strong visibility and foot traffic along Roosevelt Rd. Whether you're looking for stable rental income, value-add potential, or a mixed-use investment with business upside, this property presents a compelling opportunity in the growing Forest Park market. Schedule your showing today and explore the potential.
  1. Listed by Samuel Perez • Westward360 RM
    P: (773)-706-5849 C: (773)-706-5849 samuelp@westward360.com

Sold By RE/MAX Partners

Property Details for 7242 Roosevelt Road

Area
Forest Park
Air Conditioning Type
None
Zoning
COMMR
LISTING UPDATED: 05/10/2026 03:01 AM

Property Details for 7242 Roosevelt Road

StatusClosed
MLS #12585424
Days on Market7
Taxes$10,745 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMixed Use
MLS TypeCommercial Sale
Year Built1959
Lot Size0.06 AC / 2,472 SF
CountyCook County

Location

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Building Information for 7242 Roosevelt Road

Stories2Residences3Year Built1959Lot Size0.06 AC / 2,472 SF

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Property Taxes

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Property Information for 7242 Roosevelt Road

General Information
Location and General Information
  • Geographic Locale: Northwest Suburban,Chicago West,Far West
  • Information: 48-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: None
  • Electric: Service - 201 to 600 Amps
  • Heat/Ventilation: Central Bldg Heat
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 3
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 25 X 125
  • Lot Size Square Feet: 2472.0
  • Stories: 2
  • Fire Protection: None
  • Building Area Total: 2912
  • # Of Offices: 1
  • Office SqFt: 150
  • Other SqFt: 1512
  • Retail SqFt: 1250
  • # Of Stores: 1
  • Property Sub Type: Mixed Use
Property and Assessments
  • Buyer Financing: Conventional, FHA, VA
  • Public Document Count: 0
  • Photos Count: 36
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 3
Income & Expenses
  • Electric Expense: $1,565.00
  • Fuel Expense: $825.00
  • Gross Income: $58,200.00
  • Gross Scheduled Income: $4,650.00
  • Insurance Expense: $3,000.00
  • Total Monthly Income: 4850
  • Other Expense: $.00
  • Trash Expense: $1,670.00
  • Water Sewer Expense: $2,400.00

Property History for 7242 Roosevelt Road

DateEvent & SourcePriceAppreciation
May 8, 2026

Sold

MRED #12585424

$395,000
Mar 12, 2026

Pending

MRED #12585424

Mar 12, 2026

Contingent

MRED #12585424

DateEvent & SourcePrice
05/08/2026

Sold

MRED #12585424

$395,000
03/12/2026

Pending

MRED #12585424

03/12/2026

Contingent

MRED #12585424

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

Public Records for 7242 Roosevelt Road

Taxable ValueLand$1,854Additions$32,146Total$34,000
Tax Record2023$10,212 ($851 / month)
Home Facts
Baths2.5Total Finished SqFt2,912 SqFtAbove Grade Finished SqFt2,912 SqFtStories2Lot Size2,472 SqFtStyleMulti-Family Res (5+ Units)Year Built1959CountyCOOKAPN15-24-203-003

Schools near 7242 Roosevelt Road

This home is within Proviso Twp Hsd 209 School District.
Rating
School
Type
Grades
Distance
Public - PK to 2
Public - K to 2
Public - 3 to 5
Public - 6 to 8
Rating
School
Distance
Garfield Elementary School
PublicPK to 2

Betsy Ross Elementary School
PublicK to 2

Field Stevenson Elementary School
Public3 to 5

Forest Park Middle School
Public6 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.

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Listing Courtesy of Westward360 RM

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. Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 05/10/2026 03:01 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.