1401 East 87th Street

Chicago, IL 60619

$410,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Well maintained 10,375 sf mixed-use building having 6,058 sf of building area is situated along the busy 87th Street business corridor. The building has ground floor office space, consisting of two occupied medical offices and one 800 SF space, freshly painted and ready to rent or house your business. The second floor has two apartments (a 1-bed, 1-bath and a 3-bed, 2-bath). The offices are interconnected and could all be occupied by a single tenant or could remain leased to two or more tenants....Well maintained 10,375 sf mixed-use building having 6,058 sf of building area is situated along the busy 87th Street business corridor. The building has ground floor office space, consisting of two occupied medical offices and one 800 SF space, freshly painted and ready to rent or house your business. The second floor has two apartments (a 1-bed, 1-bath and a 3-bed, 2-bath). The offices are interconnected and could all be occupied by a single tenant or could remain leased to two or more tenants. The property includes 14 on-site parking spaces. All tenants are long term. Easy access to the Dan Ryan Expressway, CTA Red Line, CTA bus #87 and Metra. Neighboring businesses include McDonald's, O'Reilly Auto Parts, a Clarks gas station, and several offices, retail and commercial services. Strip mall located a few blocks east houses both national and regional tenants, including Athletico, T-Mobile, Wing Stop, H and R Block and Pete's Produce grocery store. Solid building, below market rents, great location with steady traffic flow of 13,500 vehicles per day....makes for a great investment opportunity.
  1. Listed by Pamela Tuggle • @properties Christie's International Real Estate
  2. Listed by William Tuggle • @properties Christie's International Real Estate

Property Details for 1401 East 87th Street

Area
CHI - Calumet Heights
Num Of Parking Spaces
14.0

Location

Listing Courtesy of @properties Christie's International Real Estate
Add your commute
LISTING UPDATED: 10/15/2023 12:06 AM

Property Details for 1401 East 87th Street

StatusActive
MLS #11820183
Days on Market489
Taxes$7,573 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale
Year Built1958
Lot Size0.09 AC / 4,125 SF
CountyCook County

Location

Listing Courtesy of @properties Christie's International Real Estate
Add your commute

Building Information for 1401 East 87th Street

Stories-Residences5Year Built1958Lot Size0.09 AC / 4,125 SF

Payment Calculator

$2,869 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,238

Property Taxes

$631

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1401 East 87th Street

General Information
Addtl Parking Information
  • Outdoor Parking: 13-18 Spaces
Location and General Information
  • Geographic Locale: East/West Corridor,Chicago South
  • Information: 24-Hr Notice Required
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air, Window Unit(s)
  • Electric: Circuit Breakers, Service - 101 to 200 Amps
  • Heat/Ventilation: Other
  • Num of Baths: 0.0
Exterior Features
  • # Of Apts: 2
Property/Lot Information
  • Tenant Pays: Electricity
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Lot Dimensions: 4125
  • Lot Size Square Feet: 4125.0
  • Stories: 2
  • Exterior Building Type: Brick
  • Fire Protection: Smoke or Fire Protectors,Carbon Monoxide Detector(s)
  • Building Area Total: 6826
  • # Of Offices: 3
  • # Of Stores: 2
  • Property Sub Type: Mixed Use
Property and Assessments
  • Public Document Count: 0
  • Photos Count: 5
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $2,006.00
  • Fuel Expense: $.00
  • Gross Income: $6,500.00
  • Gross Scheduled Income: $78,000.00
  • Insurance Expense: $5,755.00
  • Electric Expense Source: Owner Projection
  • Expense Year: 2022
  • Total Annual Expense Source: Owner Projection
  • Fuel Expense Source: Owner Projection
  • Insurance Expense Source: Owner Projection
  • Net Operating Income Year: 2022
  • Other Expense Source: Owner Projection
  • Trash Expense Source: Owner Projection
  • Total Monthly Income: 6500
  • Water Expense Source: Owner Projection
  • Net Operating Income: $44,636.00
  • Operating Expense: $33,364.00
  • Other Expense: $18,030.00
  • Trash Expense: $.00
  • Water Sewer Expense: $.00

Property History for 1401 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 1401 East 87th Street

Taxable ValueLand$5,156Additions$8,013Total$13,169
Tax Record2022$3,176 ($265 / month)
Home Facts
Baths8.5Total Finished SqFt6,826 SqFtAbove Grade Finished SqFt6,826 SqFtStories2Lot Size4,125 SqFtStyleMulti-Family Res (5+ Units)Year Built1958CountyCOOKAPN25-02-205-001

Schools near 1401 East 87th Street

This home is within City Of Chicago School District 299.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - PK to 8
Charter - 10 to 12
Charter - K to 8
Rating
School
Distance
Mcdowell Elementary School
PublicPK to 5

Caldwell Elementary Academy Of Math & Sci
PublicPK to 8

YCCS-Sullivan House Alt HS
Charter10 to 12

CICS Avalon
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.

Neighborhood Map and Transit

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1401 East 87th Street is a mixed use property for sale in Chicago, IL 60619. This property was listed for sale on June 29, 2023 by @properties Christie's International Real Estate, it's currently listed at $410,000. This listing's school district is City Of Chicago School District 299. Nearby schools include Mcdowell Elementary School, Caldwell Elementary Academy Of Math & Sci and YCCS-Sullivan House Alt HS. 1401 East 87th Street is a 0-bed, 0-bath, mixed use property built in 1958.

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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of @properties Christie's International Real Estate

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.