3931 W 63rd St
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3931 W 63rd St
7,037 SF 84% Leased Retail Building Chicago, IL 60629 $1,100,000 ($156/SF) 10.50% Cap Rate
Investment Highlights
- Heavy day time foot and car traffic
- Open Plan allows for any design
Executive Summary
Prime Investment Opportunity in Chicago's Sought-After 63rd Street Corridor. Mixed-Use Building with Strong Rental Income! This 8-unit building, with 3 commercial storefronts and 5 residential units, offers tremendous upside with its B1-1 zoning in high traffic area. Currently fully leased with MTM tenants, this property boast steady income potential with significant upside, with long-term growth in a dynamic, up-and -coming area. Ideal for investors seeking cash flow, redevelopment opportunities, or long-term value appreciation. The property is priced to move with immediate income potential. This is your chance to secure a high performing asset in one of Chicago's most promising neighborhoods.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$141,000
|
$20.04
|
| Other Income |
$3,000
|
$0.43
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$144,000
|
$20.46
|
| Taxes |
$11,724
|
$1.67
|
| Operating Expenses |
$14,300
|
$2.03
|
| Total Expenses |
$26,024
|
$3.70
|
| Net Operating Income |
$117,976
|
$16.77
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $141,000 |
| Annual Per SF | $20.04 |
| Other Income | |
|---|---|
| Annual | $3,000 |
| Annual Per SF | $0.43 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $144,000 |
| Annual Per SF | $20.46 |
| Taxes | |
|---|---|
| Annual | $11,724 |
| Annual Per SF | $1.67 |
| Operating Expenses | |
|---|---|
| Annual | $14,300 |
| Annual Per SF | $2.03 |
| Total Expenses | |
|---|---|
| Annual | $26,024 |
| Annual Per SF | $3.70 |
| Net Operating Income | |
|---|---|
| Annual | $117,976 |
| Annual Per SF | $16.77 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
7,037 SF
Building Class
C
Year Built
1927
Price
$1,100,000
Price Per SF
$156
Cap Rate
10.50%
NOI
$115,500
Percent Leased
84%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.15
Lot Size
0.14 AC
Zoning
b1-1 - Neighborhood Shopping District
Retail storefronts on low-traffic streets. Apartments allowed above the ground floor.
Parking
4 Spaces (0.57 Spaces per 1,000 SF Leased)
Frontage
55 FT on West 63rd Street
Walk Score ®
Very Walkable (79)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 19-23-100-008-0000 | Total Assessment | $91,000 (2024) |
| Land Assessment | $9,375 (2024) | Annual Taxes | $11,724 ($1.67/SF) |
| Improvements Assessment | $81,625 (2024) | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
19-23-100-008-0000
Land Assessment
$9,375 (2024)
Improvements Assessment
$81,625 (2024)
Total Assessment
$91,000 (2024)
Annual Taxes
$11,724 ($1.67/SF)
Tax Year
2023 Payable 2024
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3931 W 63rd St
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