6071 S Archer Ave 13,000 SF Retail Building Chicago, IL 60638 $1,600,000 ($123.08/SF)
INVESTMENT HIGHLIGHTS
- This building is ideal for a Spanish-owned restaurant and has great access to bus lines and is 0.5 miles from Chicago Midway International Airport.
- In a great location next to Jewel Osco and among a mix of national and local restaurants like KFC, Danny's Pizza Place, Nicky's Hot Dogs, and others.
- There is a 2,500-square-foot apartment on the second floor that can easily be converted to office space.
- It benefits from over 108 feet of frontage along S Archer Avenue at the signalized intersection of Mayfield and Archer.
- In close vicinity to AMITA Health Chicago and numerous religious facilities nearby.
EXECUTIVE SUMMARY
6071 S Archer Avenue and S Mayfield Avenue is presented as a last-chance investment or user opportunity before it will be repurposed into something else. The 13,000-square-foot building is ideal for a Spanish-speaking investor as it offers a wide range of flexible opportunities with 13,000 square feet of restaurant/ bar space 10' cilings and 1,000 square feet of basement storage space. Most recently, the building has been used as a banquet hall and restaurant open with a valid liquor and food license, ready for a new owner to take over. The banquet hall can be easily divided into two different spaces, and the building has a total capacity of 400 people.
The current tenant has been operating for over 38 years. With assistance from the current owner, the business has a potential of over $1M a year. The second floor features an additional 2,500-square-foot apartment that can be renovated or converted to office space or two apartments. There are 34-36 parking spaces available on-site, too.
The property and business are worth $2.5M; this opportunity only 1,600,000
Inquire today to make an offer. The owner is motivated by retirement, and this is a one-of-a-kind, lucrative opportunity.
The current tenant has been operating for over 38 years. With assistance from the current owner, the business has a potential of over $1M a year. The second floor features an additional 2,500-square-foot apartment that can be renovated or converted to office space or two apartments. There are 34-36 parking spaces available on-site, too.
The property and business are worth $2.5M; this opportunity only 1,600,000
Inquire today to make an offer. The owner is motivated by retirement, and this is a one-of-a-kind, lucrative opportunity.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
13,000 SF
Building Class
C
Year Built/Renovated
1977/2008
Price
$1,600,000
Price Per SF
$123.08
Tenancy
Single
Building Height
2 Stories
Building FAR
0.73
Lot Size
0.41 AC
Zoning
B3-1 - Community Shopping District
Parking
35 Spaces (3.34 Spaces per 1,000 SF Leased)
Frontage
108’ on Archer Ave
AMENITIES
- Signage
Walk Score®
Very Walkable (77)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
22,940
162,635
563,134
1,007,066
2029 Population
21,884
154,556
529,395
940,735
2024-2029 Projected Population Growth
-4.6%
-5.0%
-6.0%
-6.6%
Median Age
39.7
37.6
36.4
37.4
College Degree + Higher
23%
18%
16%
14%
Daytime Employees
6,655
61,842
155,178
366,370
Total Businesses
596
5,009
14,877
39,527
Average Household Income
$100,659
$85,049
$77,817
$79,248
Median Household Income
$87,327
$68,153
$59,160
$56,833
Total Consumer Spending
$257.3M
$1.6B
$5B
$9.4B
2024 Households
7,825
51,842
174,753
340,602
Average Home Value
$270,481
$252,934
$251,451
$286,736
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19-08-424-103-0000 | Improvements Assessment | $72,081 |
| Land Assessment | $24,919 | Total Assessment | $97,000 |
