7407 Archer Avenue, SUMMIT IL 60501 Photo 1
Listing Courtesy of Classic Realty Group, Inc.

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7407 Archer Avenue - GREAT OPPORTUNITY TO OWN A SHOPPING CENTER IN A HEAVILY TRAVELED AREA. BUILDING CONSISTS OF 7 STORES WITH 6 TENANTS ON TRIPLE NET LEASES. 50 PARKING SPOTS. SUMMIT SHOPPING CENTER IS IN A PRIME LOCATION NEAR HARLEM & ARCHER, I-55 AND PORTILLO'S. NEARBY MIDWAY AIRPORT & TOYOTA PARK. OWNER HAS KEPT BUILDING IN SOLID CONDITION & PUT MANY UPDATES TO IT IN EXCESS OF $300,000.00. TENANT PAYS TAXES, HEAT AIR & COMMON AREA MAINTENANCE. NEW CONSTRUCTION IS BEING BUILT ACROSS THE STREET WHICH WILL BRING AN EXTRA CUSTOMER BASE. PLENTY OF ROOM TO GROW AND EXPAND YOUR NEW BUSINESS. PLEASE DO NOT DISTURB TENANTS.

Listing information

  • MLS® ID: 09491110
  • Status: Active with Contingency
  • New Construction: No
  • County: Cook
  • Style: Retail / Hospitality / Service
  • Stories: 1
  • Foreclosure: No
  • Year Built: 1980
  • Parking Type Description: None 0 cars
  • Estimated Annual Taxes: $65,072

Features

Air Conditioning Central Air
Approximate Age 26-35 Years
Contingency Flag Attorney/Inspection
Electrical Service 201-600 Amps
Fire Protection Other
Franchisor Feed(y/n) No
Geographic Locale Chicago Southwest
Heat/Ventilation Central Heat/Indiv Controls, Forced Air
Information 24-Hr Notice Required, Listing Agent Must Accompany
Other # Of Drive In Doors - 0, # Of Tenants - 7, # Of TL Docks - 0, # Of Units - 7, Approx Total Bldg Sq Ft - 9140, Expense Year - 2015, Gross Rental Income $ - 13478, Net Oper Income $ - 93736, Net Operating Income Year - 2015, Tax Year - 2014, Total Annual Exp - 68000, Total Annual Income - 121736, Total Monthly Income - 13478, Township - Lyons, Zoning Type - Rtail
Property Offered For Sale Only
Property Type Retail/Stores
Tenant Pays Air Conditioning, Common Area Maintenance, Electric, Heat, Insurance, Janitorial, Real Property Taxes, Scavenger
Listing Courtesy of Classic Realty Group, Inc.