7621 S Cottage Grove Avenue, Chicago, IL, 60619

$2,200,000

About 7621 S Cottage Grove Avenue

3-Story California-style exterior corridor motel offering 34-rooms, built in 1974, with separate restaurant building positioned at the front of the property, main-level parking, total land area 13,392 Sq. ft. total building 18,000 Sq. ft. located in the well-established Chatham neighborhood on Chicago's South Side, offering a compelling rehab, redevelopment and potential revenue-generating. Non-franchise motel license". Significant value-add, the City of Chicago does not issue new non-franchise motel licenses. Walking distance to retail, services, and neighborhood amenities. Strong traffic counts. Approximately 1-mile east of the Dan Ryan Expressway, and about 3 miles from the Obama Presidential Library. Situated within the Greater Chatham Initiative - 87th Street Corridor Improvement Zone. City of Chicago support through Grants & TIF funding. Eligible for facade improvements and full building renovation grants. Property qualifies for significant public incentives, with potential of reducing capital outlay and increasing ROI. Below link provides information about the City of Chicago website offering grants.

Additional Information: This property is located in the CHI - Greater Grand Crossing neighborhood, IL. This bedrooms bus / bus w/real est property is priced at $2,200,000.

Facts & Features

MLS® # 12548055
Price $2,200,000
Bathrooms 0.00
Taxes $147,222
Type Business Opportunity
Sub-Type Bus / Bus w/Real Est
Status Active

Community Information

Address 7621 S Cottage Grove Avenue
Area CHI - Greater Grand Crossing
City Chicago
County Cook
State IL
Zip Code 60619

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Central Air
Fireplace No
Has Basement No

Exterior

Exterior Brick, Concrete

Additional Information

Days on Market 200
Foreclosure No
Short Sale No
RE / Bank Owned No
Taxes $147,222

Listing Details

OfficeCentury 21 Circle

Listing Map

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