3931 W 63rd St
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3931 W 63rd St
7,037 SF 84% Leased Retail Building Chicago, IL 60629 $1,896,318 CAD ($269 CAD/SF) 8.56% Cap Rate
Investment Highlights
- Heavy day time foot and car traffic
- Open Plan allows for any design
Executive Summary
Amazing mixed use development/investment opportunity on 50 x 126 lot with B1-1 zoning in a prime location. 8-unit building consisting of 3 storefronts, one 3bedroom/1bath apartment, one Studio/1 bath apartment and three 2bedroom/1bath apartments. In addition, there is a 3 car brick garage with 1 exterior parking spot and sizable back yard. All units are currently occupied with MTM tenants except for 1 apartment. Income numbers are based on the most recent rents or market value if owner occupied. All units have separate forced air heat. Roof is in good condition and there are no building violations with the city. Sold As Is where is.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$198,060
|
$28.15
|
| Other Income |
$4,214
|
$0.60
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$202,274
|
$28.74
|
| Taxes |
$16,468
|
$2.34
|
| Operating Expenses |
$20,087
|
$2.85
|
| Total Expenses |
$36,555
|
$5.19
|
| Net Operating Income |
$165,719
|
$23.55
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $198,060 |
| Annual Per SF | $28.15 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,214 |
| Annual Per SF | $0.60 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $202,274 |
| Annual Per SF | $28.74 |
| Taxes (CAD) | |
|---|---|
| Annual | $16,468 |
| Annual Per SF | $2.34 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $20,087 |
| Annual Per SF | $2.85 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $36,555 |
| Annual Per SF | $5.19 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $165,719 |
| Annual Per SF | $23.55 |
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
$1,896,318 CAD
Price Per SF
$269 CAD
Cap Rate
8.56%
NOI
$162,241 CAD
Percent Leased
84%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.15
Land Acres
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 | $68,157 CAD |
| Land Assessment | $7,845 CAD | Annual Taxes | $16,468 CAD ($2.34 CAD/SF) |
| Improvements Assessment | $60,312 CAD | Tax Year | 2023 Payable 2024 |
PROPERTY TAXES
Parcel Number
19-23-100-008-0000
Land Assessment
$7,845 CAD
Improvements Assessment
$60,312 CAD
Total Assessment
$68,157 CAD
Annual Taxes
$16,468 CAD ($2.34 CAD/SF)
Tax Year
2023 Payable 2024
-
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3931 W 63rd St
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