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31642611
31528680

6551 W 63rd Street, Chicago, IL 60638

NT
IL 475203950
Remax Legends
Listed by Remax Legends
$420,000
59 days on market
Updated 38 days ago

6551 W 63rd Street

Details
APN 19192020740000
Property Type Retail, Mixed Use
Sub Type Auto Shop, Automotive (+1)
Square Footage 2,800
Units 2
Cap Rate 7.00%
NOI $60,000
Occupancy 50%
Year Built 1962
Lot Size (SqFt) 2,850
Zoning COMMR
Parking Spaces 10 spaces
Parking Per SqFt 3.57
Ground Lease No

Retail | 7.00% CAP | 2,800 SqFt

Marketing description

Prime Mixed-Use investment opportunity in the Clearing neighborhood of Chicago! This versatile mixed-use property offers immediate income potential and long-term upside. The front commercial space includes a private bathroom and is currently leased to a hair salon on a flexible month-to-month basis, providing instant cash flow with flexibility for future use.The rear residential unit features 3 bedrooms, 1 bathroom, and a full basement, currently vacant and ready for occupancy or rental income. A detached 2-car garage adds additional value and convenience. Previously utilized as a car dealership, the property sits on an expansive lot ideal for automotive use, including parking, vehicle sales, or other commercial applications. Zoned C2-2, this property allows for a wide range of business and mixed-use possibilities. Located in a high-visibility, up-and-coming area with strong accessibility, this is a perfect opportunity for investors, owner-users, or developers seeking a flexible, income-producing asset with significant growth potential. Survey available for your convenience.

Investment highlights

Immediate Cash Flow – Existing hair salon tenant on a month-to-month lease provides income from day one

Value-Add Opportunity – Vacant 3-bedroom residential unit ready for lease-up or owner occupancy

Flexible Lease Structure – Month-to-month commercial tenant allows for rent increases or repositioning

Mixed-Use Advantage – Dual income streams from both commercial and residential components

C2-2 Zoning – Supports a wide variety of commercial uses including retail, office, automotive, and more

Automotive-Friendly Site – Previously used as a car dealership; ideal for continued auto-related use

Large Lot with Outdoor Space – Ample room for parking, inventory storage, or business operations

Detached 2-Car Garage – Additional income potential or operational utility

High Visibility Location – Strong street presence in a well-trafficked area

Strong Accessibility – Easy access to major roads and surrounding neighborhoods

Up-and-Coming Area – Positioned in a neighborhood with growth and redevelopment potential

Owner-User Opportunity – Ideal for business owners looking to occupy while generating rental income

Multiple Exit Strategies – Hold for cash flow, reposition, or redevelop in the future

Survey Available – Reduces due diligence time and adds transparency for buyers

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Listing Contacts

NT
IL 475203950
Remax Legends
Listed by Remax Legends

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$60,000.00
$5,000.00/mo

Valuation Metrics

0
DSCR
14.29%
Cap Rate
14.29%
ROI

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Additional Information

Name
Nazire Tahiri
License
475203950
Brokerage
Remax Legends
Brokerage Phone
630-216-8000
Brokerage Address
17W480 West 22nd Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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