Marcus & Millichap is pleased to present this mixed-use building, built in 1928, located at 3134-3136 West Marquette Road in Chicago Lawn; one of 77 community areas of Chicago, Illinois located approximately 11-miles southwest of the Loop with convenient access to Interstate 90 and 94. Public transportation is readily available at the Ashland / 63rd CTA Subway Station located approximately two-and-a-half miles northeast, and is locally served by CTA for transportation by bus. CTA bus stops can be easily accessed on West Marquette Road, which is footsteps away from the property. For domestic and international travel purposes, Midway International Airport is approximately three miles northwest from the asset.
The unit mix is comprised of nine studios, 27 one-bedroom / one-bathroom units, and five retail spaces measuring at approximately 450, 500, and 750 square feet, respectively.
The property is positioned just north of Marquette Park which is the largest park on the southwest side of Chicago. Approximately three miles southwest of the property is Ford City Mall, Bedford City Square, and Summit Shopping Center, carrying major retail stores, grocery markets, local and franchised restaurants, etc. This investment offers an investor the opportunity to acquire a well-maintained stabilized mixed-use building and to have the ability to raise rents to market levels without the need for significant additional capital expenditures.
