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514 W 71st St 4,600 SF 100% Leased Retail Building Chicago, IL 60621 $546,514 CAD ($118.81 CAD/SF)
Executive Summary
Prime Investment Opportunity with Expansion Potential
Don’t miss this unique commercial property offering exceptional upside. Situated adjacent to a city-owned vacant lot, this building presents a rare opportunity for future growth and potential expansion (buyer to verify possibilities with the city).
The property features three storefronts, including two established long-term tenants, providing immediate income stability. The existing tenants hold valid licenses and may continue operating under current approvals, offering added security for investors.
Currently zoned RT-4, the property would require rezoning for certain commercial redevelopment opportunities, making it an ideal candidate for investors or developers seeking to reposition and maximize value.
Being sold as-is, this property is perfect for those looking to capitalize on its strong location, reliable tenant base, and long-term growth potential.
Don’t miss this unique commercial property offering exceptional upside. Situated adjacent to a city-owned vacant lot, this building presents a rare opportunity for future growth and potential expansion (buyer to verify possibilities with the city).
The property features three storefronts, including two established long-term tenants, providing immediate income stability. The existing tenants hold valid licenses and may continue operating under current approvals, offering added security for investors.
Currently zoned RT-4, the property would require rezoning for certain commercial redevelopment opportunities, making it an ideal candidate for investors or developers seeking to reposition and maximize value.
Being sold as-is, this property is perfect for those looking to capitalize on its strong location, reliable tenant base, and long-term growth potential.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
4,600 SF
Building Class
C
Year Built
1914
Price
$546,514 CAD
Price Per SF
$118.81 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.75
Lot Size
0.14 AC
Opportunity Zone
Yes
Zoning
RT-4 - Currently Zoned RT-4
Frontage
190’ on West 71st Street
Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 20-21-326-016-0000 | Improvements Assessment | $178,129 CAD |
| Land Assessment | $6,458 CAD | Total Assessment | $184,586 CAD |
Property Taxes
Parcel Number
20-21-326-016-0000
Land Assessment
$6,458 CAD
Improvements Assessment
$178,129 CAD
Total Assessment
$184,586 CAD
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514 W 71st St
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