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Historic Property Multifamily Revitalization 4192 S Archer Ave 57,000 SF Vacant Retail Building Online Auction Sale Chicago, IL 60632
Matterport 3D Tours
INVESTMENT HIGHLIGHTS
- Revitalize a historic building in SW Chicago into a 78-unit multifamily community and ground-floor retail, with significant work already completed.
- Enhanced curb appeal from a recent exterior refresh, with further updates completed to several residential units.
- Accessible location just a short drive from the Stevenson Expressway, I-55, and I-90/94, with Pace Bus and CTA Orange lines within walking distance.
- Includes an entertainment center, a laundry room, a fitness center, a reception area with a coffee shop/bakery, and a large basement for storage.
- Heavily trafficked corner intersection location, with strong foot traffic and visibility to more than 24,000 vehicles per day.
- Sought-after multifamily submarket, with shrinking vacancies of just 6% and year-over-year rent growth of 4.7%.
EXECUTIVE SUMMARY
4192 S Archer Avenue presents a prime value-add opportunity to reimagine an iconic property for multifamily and retail use in the Brighton Park neighborhood of Chicago, Illinois. This rare offer delivers a running start to investors, with significant work already completed and plans in place.
Covering 57,000 square feet over three floors, 4192 S Archer Avenue offers the potential to create up to 78 multifamily units, along with several ground-floor retail spaces. The building’s exterior has already been renovated, greatly enhancing its curb appeal. Currently, the property features office spaces, a dental clinic, 14 residential rooms, and a café on the ground floor. The second and third floors, previously used for senior living, include 64 residential rooms and are suited for easy conversion to multifamily apartments. Additionally, the property includes a full basement with multiple storage areas and a mechanical room.
Situated at the heavily trafficked corner signalized intersection of Sacramento Avenue and Archer Avenue, the property enjoys exceptional vehicle and foot traffic. More than 24,000 vehicles pass by the location each day, offering strong exposure to potential residents and customers. Further enhancing connectivity to the greater metro, the site is accessible from major freeways such as the Stevenson Expressway, Interstate 55, and Interstate 90/94, with public transportation available on Western Avenue for the Pace Bus and CTA Orange lines.
The Southwest Chicago Multifamily offers strong support for the creation of new residential inventory, demonstrated by a declining vacancy rate of just 6%. Over the past few years, demand has outpaced new construction, driving impressive rent growth of 4.7% year-over-year. With the construction pipeline substantially below historic averages, this notable performance is expected to continue in the coming years.
Make a mark on Southwest Chicago with this incredible opportunity to reimagine an iconic property and serve the area’s growing demand for quality residential space at 4192 S Archer Avenue.
Property tours are by appointment only. Please contact the listing broker to schedule.
Covering 57,000 square feet over three floors, 4192 S Archer Avenue offers the potential to create up to 78 multifamily units, along with several ground-floor retail spaces. The building’s exterior has already been renovated, greatly enhancing its curb appeal. Currently, the property features office spaces, a dental clinic, 14 residential rooms, and a café on the ground floor. The second and third floors, previously used for senior living, include 64 residential rooms and are suited for easy conversion to multifamily apartments. Additionally, the property includes a full basement with multiple storage areas and a mechanical room.
Situated at the heavily trafficked corner signalized intersection of Sacramento Avenue and Archer Avenue, the property enjoys exceptional vehicle and foot traffic. More than 24,000 vehicles pass by the location each day, offering strong exposure to potential residents and customers. Further enhancing connectivity to the greater metro, the site is accessible from major freeways such as the Stevenson Expressway, Interstate 55, and Interstate 90/94, with public transportation available on Western Avenue for the Pace Bus and CTA Orange lines.
The Southwest Chicago Multifamily offers strong support for the creation of new residential inventory, demonstrated by a declining vacancy rate of just 6%. Over the past few years, demand has outpaced new construction, driving impressive rent growth of 4.7% year-over-year. With the construction pipeline substantially below historic averages, this notable performance is expected to continue in the coming years.
Make a mark on Southwest Chicago with this incredible opportunity to reimagine an iconic property and serve the area’s growing demand for quality residential space at 4192 S Archer Avenue.
Property tours are by appointment only. Please contact the listing broker to schedule.
MATTERPORT 3D TOURS
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DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Bank
Building Size
57,000 SF
Building Class
C
Year Built
1915
Percent Leased
Vacant
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.47
Lot Size
0.89 AC
Parcel Numbers
Zoning
B1-3
Parking
12 Spaces (0.21 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Drive Thru
Walk Score®
Very Walkable (87)
ABOUT SOUTH CHICAGO
Buttressed between various passenger and freight transmodal nodes, South Chicago is well situated for residents to get to their places of employment throughout the metropolitan area. Opportunities for recreation abound here, too, with the South Shore Cultural Center, Harborside International Golf Center, and the Museum of Science and Industry all within its confines. For a true getaway, residents are near Chicago’s Midway Airport to the northeast.
In addition to area employment that supports Midway Airport, South Chicago is home to businesses that capitalize on the numerous distribution points, access to fresh water for manufacturing and data hosting processes, and a congregation of warehouse and distribution centers. Local employers include automobile manufacturer Ford Motor Company (4,700 employees), digital infrastructure provider Equinix (2,800 employees) and charter bus company Ram Transportation Services (2,200 employees.)
The Chicago Metropolitan Agency for Planning (CMAP) has earmarked almost $1 billion for transportation improvements and extensions within Southwest Cook County, in addition to tax incentives to attract more employers and residents to the area.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
33,230
279,905
754,643
2020 Population
45,874
357,523
876,974
2029 Population
29,837
257,010
709,996
2024-2029 Projected Population Growth
-10.2%
-8.2%
-5.9%
Daytime Employees
7,657
85,237
298,755
Total Businesses
805
7,778
30,379
Average Household Income
$61,458
$64,380
$71,081
Median Household Income
$47,070
$45,340
$48,627
Total Consumer Spending
$246.9M
$2.1B
$6.5B
Median Age
33.9
34.3
35.3
2024 Households
9,892
83,983
262,704
Percent College Degree or Above
8%
9%
13%
Average Home Value
$252,987
$245,079
$283,156
NEARBY MAJOR RETAILERS
SALE ADVISOR
SALE ADVISOR
Mark Ahmad, Real Estate Broker
Mark Ahmad is a well experienced broker with supported FACTS over the past 15 years, equipped, able to price, maintain, serve and close your assets. Among the Chicago Association of REALTORS Top 5% Producers since 2005, with a successful track record on pricing accuracy in many different market areas, he is currently serving the MB Financial bank, and NRT. REO Experts LLC, on many occasions Mark has provided his expert opinion to the circuit court. Hence you can always rely on my detailed MBA/PBO reports. Mark has been serving short sale and REO inventories since 2009, with set aside budget to cover and repair any assigned asset when needed. He will give you the immediate attention 24/7 and provide the finest services. He conducts his business with the principle that he is employed by your organization; therefore, Mark works at best to maximize your proceeds to keep his name on your roster for assignments. He is always on top of his daily work, your phone calls will always be answered in person or returned within short time.
ABOUT THE AUCTION TECHNOLOGY
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AUCTION CONTACT
Kevin Loudy
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Historic Property Multifamily Revitalization | 4192 S Archer Ave
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