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6835 W Higgins Avenue

Chicago, IL 60656
  • $525,000
  • STATUS: Active
  • ON SITE: 632 Days
  • MLS #: 11077752
UPDATED: 26 min ago
$525,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,746
    SQFT
  • $91
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1958
County:

School Ratings & Info

Description

This fully occupied office building is offered at a very competitive cap rate based upon rents that are well below market. You can buy this building and leave everything exactly as is (the seller currently occupies a significant portion of the build and is willing to keep all of their space, or keep a portion of their space or vacate completely) OR you can bring the rents up to full market and watch your building value explode. If you merely bring the rents up to 90% of market, you'll add over $200k to the value of the building. If that's not enough of a value add opportunity, the current zoning allows residential above ground floor retail/office and the building has flexicore ceilings, so there's the possibility of adding residential units above. The location supports strong demand for retail, office and residential. Higgins has a great traffic count and high visibility and I90, the Blue Line, CTA buses, multiple Metra stops and O'Hare are all just minutes away. Ask your agent for the financial information in the flyer available to download.

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© 2023 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2023-01-28T20:57:44.09 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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6835 W Higgins Avenue Chicago, IL 60656

  • Price: $525,000
  • Status: Active
  • On Site: 632 Days
  • Updated: 26 min ago
  • MLS #: 11077752
0
Beds
0
Baths
0
½ Baths
N/A
Acres
5,746
SQFT
$91
$/SQFT
1958
Built
Neighborhood:
Chi - Norwood Park
County:
Cook
Area:
Chi - Norwood Park
Property Description
This fully occupied office building is offered at a very competitive cap rate based upon rents that are well below market. You can buy this building and leave everything exactly as is (the seller currently occupies a significant portion of the build and is willing to keep all of their space, or keep a portion of their space or vacate completely) OR you can bring the rents up to full market and watch your building value explode. If you merely bring the rents up to 90% of market, you'll add over $200k to the value of the building. If that's not enough of a value add opportunity, the current zoning allows residential above ground floor retail/office and the building has flexicore ceilings, so there's the possibility of adding residential units above. The location supports strong demand for retail, office and residential. Higgins has a great traffic count and high visibility and I90, the Blue Line, CTA buses, multiple Metra stops and O'Hare are all just minutes away. Ask your agent for the financial information in the flyer available to download.
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Frontage Type City Street Roof CompositionMembrane Roof Structure FlatPitched

Interior Features

Cooling Central Air Flooring CarpetTile Heat Ventilation Central Heat/Indiv Controls Miscellaneous Inside Common Lunchroom/SCommon Meeting Room/SMulti-TenantPrivate Restroom/SBasement Number Of TLDocks 0

Property Features

Additional Parcels YN Yes Approximate Age Older Building Area Total 5746 Built Before1978 YN Yes Current Use Commercial Electric Circuit BreakersService - 101 To 200 Amps Fire Protection Alarm On SiteHydrants On Site Geographic Locale O'hareChicago North Gross Income 67500 Gross Scheduled Income 67500 Leasable Area 5746 Location Central Business DistrictCornerMixed Use AreaPublic Transport Avail Mls Actual Status Active Net Operating Income 37827 Number Of Tenants 3 Operating Expense 29673 Ownership Types Individual Possible Use CommercialOffice And ResearchMulti-FamilyRetailOtherElderly Housing Property Offered For Sale Only Property Sub Type Office Tax Annual Amount 15928 Tax Year 2020 Tenant Pays Varies By Tenant Type Office/Tech Zoning Commr

Listing information © 2023 Midwest Real Estate Data LLC.
Listing provided courtesy of Keller Williams Success Realty: 815-444-6790.


© 2023 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ryan Dallas Real Estate. Based on information submitted to the MRED as of 2023-01-28T20:57:44.09 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED 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. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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