222 E 61st Street, Chicago, IL 60637

Other
THB ฿27,432,000
USD $800,000
Published on: 04 Jul 2024
Last updated on: 09 Nov 2024
222 E 61st Street, Chicago, IL 60637
222 E 61st Street, Chicago, IL 60637
222 E 61st Street, Chicago, IL 60637
+42
222 E 61st Street, Chicago, IL 60637
  • 42
Property ID: 110092992507
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Other - Chicago, IL

222 E 61st Street, Chicago, IL 60637
Pleased to present the retail property at 222 E. 61st St.. This asset represents a compelling investment opportunity in a vibrant community. Discover this exceptional commercial property located in a coveted B3-2 zoning district, currently operating as a Day Care Center and After-SCHOOL facility. This property offers a blend of modern amenities and strategic location, making it a highly attractive investment opportunity.    Key Features  Zoning: B3-2  Current Use: Day Care Center and After-SCHOOL Facility  Tenant Lease: The day care tenant signed a 3-year lease in March of 2023 at $10,000 monthly.  Facilities: Newly remodeled day care center on the first floor and a second floor utilized for after-school programs.  Accessibility: Conveniently located near the Green Line and Dan Ryan Expressway, providing excellent transportation options.  Nearby Developments: Proximity to the future Obama Presidential Library, adding to the potential growth and value appreciation.  Maintenance: The property is meticulously maintained, ensuring a hassle-free investment experience.  Neighborhood: Situated in a revitalizing neighborhood, enhancing the long-term investment prospects.        Investment Potential  This commercial property presents a compelling investment opportunity with multiple attractive features:  Stable Income: The day care tenant's 3-year lease guarantees a steady annual income of $10,000.  Strategic Location: The property's proximity to major transportation routes and the future Obama Presidential Library enhances its desirability and potential for appreciation.  Modern Facilities: Recent renovations and dedicated spaces for day care and after-school programs increase the property's usability and attractiveness to tenants.  Revitalizing Neighborhood: Located in an area undergoing revitalization, the property is positioned for long-term growth and increased value.        Financial Highlights  Annual Lease Income: $10,000  Lease Term: 3 years (started March 2023)  Purchase Price: $800,000  Seller Financing: Available with a minimum 30% down payment of the purchase price at a 7.00% interest rate.  Zoning District: B3-2        Seller Financing Details  Minimum Down Payment: 30% of the Purchase Price  Interest Rate: 7.00%  Amortization: 360 Months  Interest Only Period: 2 Years  Balloon Due In: 5 Years        This commercial property, sold as-is, offers a unique blend of modern amenities, stable income, and strategic location. With the added benefit of being situated near significant future developments, it stands as a promising investment opportunity in a revitalizing neighborhood. The availability of seller financing with a competitive interest rate further enhances its appeal. Don't miss out on this chance to invest in a property with substantial growth potential and immediate income generation.

Property Details

Basic Info

Property Type
Other
Listing Status
Active
Building Size
1,672.25 m2
Year Built
1925
Architecture Style
Other
Franchise
Keller Williams Realty
County
Cook
Parcel ID
20153090330000
Provider
Keller Williams Chicago ONEChicago
Brokerage Office Name
Keller Williams Chicago ONEChicago
Brokerage Office Phone
(312) 216-2422
Neighbourhoods
CHI - Washington Park
Address
222 E 61st Street, Chicago, IL 60637

Tax History

YearTax amount
2022USD $33562THB ฿1,150,841*

*Converted price in your currency provided by Open Exchange Rates. Exchange rates are subject to continuous change. Neither thinkofliving.com nor its affiliates guarantee that the conversion reflects current conversion rates and are not responsible for any inaccuracies. thinkofliving.com recommends that you independently verify any information before relying on it.

Contact Agent
Anthony Hardy
2211 N Elston Ave STE 400, Chicago, IL 60614
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2211 N Elston Ave STE 400, Chicago, IL 60614
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      Property ID: 110092992507

      Data provided by Keller Williams Chicago ONEChicago, MLS #: 12101662
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