$689,000
11240 S Western Avenue Chicago, IL 60643
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$689,000
Est. payment /mo
2,064 SqFt
UPDATED:
11/20/2024 04:08 PM
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 2,064 sqft
Price per Sqft $333
MLS Listing ID 12213585
Year Built 1965
Tax Year 2023
Lot Dimensions 25 X 125
Property Description
MoHall Commercial is proud to present 11240 S. Western Ave, part of the exclusive Western Medical Office Portfolio, a rare opportunity to acquire a property in one of Chicago's most sought-after areas for healthcare providers and professional tenants. Nestled in the heart of the thriving Beverly neighborhood, this 2,064-square-foot medical office building sits on a generous 6,250-square-foot lot and is priced at 689,000. With a pro forma CAP rate of 9 and projected NOI of 62,000 once fully leased, this property promises strong returns and long-term value for savvy investors. Healthcare providers are increasingly drawn to this area due to its growing population, affluent residential base, and unmatched accessibility. Beverly, known for its tree-lined streets, historic charm, and vibrant community, offers a prime location for medical and professional tenants seeking a strong presence in a well-established neighborhood. The property's strategic location on Western Avenue provides excellent visibility and access to major expressways such as I-57 and I-94. Public transit options abound, with the CTA bus lines and the nearby Metra Rock Island District line ensuring convenient commutes for both tenants and their clients. As part of the Western Medical Office Portfolio, this property stands out for its potential to serve as a hub for healthcare services, professional offices, or a mixed-use development. Zoned B1-1, it offers the flexibility to cater to retail and office needs while also allowing for future expansion with residential units above. Its location places it within easy reach of Beverly's bustling commercial corridors, schools, and parks, creating an ideal ecosystem for businesses and their clients. Medical tenants are drawn to Beverly not only for its stable demographics but also for its commitment to fostering local businesses and access to essential amenities. With a growing demand for healthcare and professional services, 11240 S. Western Ave represents a rare chance to invest in a property that meets the needs of today's tenants while offering room for future growth. Don't miss your opportunity to own a cornerstone of the Western Medical Office Portfolio. With its unbeatable location, versatile layout, and potential for exceptional income, this property is an investor's dream in one of Chicago's most desirable neighborhoods.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Moses Hall • MoHall Commerical & Urban Development
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Greg Cirone
Managing Broker | License ID: 471003959
Managing Broker License ID: 471003959