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About the Listing 10560 - 108508
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.
Listing Highlights
Status
Active
Days on Site
181
Property Type
Business Opportunity
MLS ®
12548055
Year Built
Total Square Footage
18,000
Lot/Acreage
0.31
County
Cook
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Central Air
- Heating: Forced Air,Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 108x124
- Roof:
- Others:
- Sewer:
- Parking Features: Fenced
Financial Details
- Tax Amount: $147,222
- Taxes w/Assessments: N/A
- Tax/Property ID: 20263080040000
- Tax Year: 2024
Payment Calculator
Monthly Payment
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Questions About..
7621 S Cottage Grove Ave Chicago, IL 60619
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