Turnkey Office/Retail Condo Investment in Bronzeville with Immediate Income and Growth Potential

3957 South King Drive, Chicago, IL 60653

  • For Sale $350,000
  • Property Type Office
  • Units 0
  • Additional Rent Contact for pricing
  • Building Class B
  • Year Built 1916
  • Date Updated Nov 30, 2024

The Midwest Investment Advisors with KW Commercial & Keller Williams ONEChicago is excited to present an exclusive opportunity to acquire a single office/retail condo located in the vibrant neighborhood of Bronzeville, Chicago.

 

Property Details: Location: 3957 S. King Dr. Condo B, Chicago, IL 60653

Square Footage: 900 SF

List Price: $350,000

Price per SF: $389/SF

Zoning: Commercial B3-3

Current Tenant: Month-to-month lease, paying $1,300/month

Pro Forma Rent: $1,500/month

 

Investment Highlights:

Location: This retail condo is situated in the historic Bronzeville neighborhood of Chicago, a thriving community known for its cultural significance and revitalization efforts. The area benefits from high foot traffic and proximity to public transportation, local businesses, and residential developments, making it an ideal location for retail tenants.

Current Income: The property is currently leased to a tenant on a month-to-month basis, paying $1,300 per month ($15,600 annually). This arrangement provides flexibility for an investor to renegotiate or secure a long-term lease at market rates.

Pro Forma Income: The projected market rent for this retail space is $1,500/month, which would generate $18,000 annually. This increase offers an immediate value-add opportunity for an investor looking to boost cash flow. Strong Price per SF: At $389/SF, this property is competitively priced for the Bronzeville market, offering long-term appreciation potential as the neighborhood continues its growth trajectory.

 

Financial Overview:

Current Gross Annual Income: $15,600

Pro Forma Gross Annual Income: $18,000

Potential Upside: With a pro forma rent increase of $200/month, the annual rental income could increase by $2,400.

Market & Neighborhood Outlook: Bronzeville is experiencing ongoing redevelopment and investment, making it a highly desirable location for retail and mixed-use properties. The retail condo is well-positioned to benefit from the area's growth, driven by new residential projects, cultural attractions, and retail demand. Investors can capitalize on the neighborhood's upward trend while enjoying stable rental income and long-term appreciation.

Investment Summary: This 900 SF retail condo at 3957 S. King Dr. Condo B presents a solid investment opportunity with existing cash flow and potential for rental growth. At $350,000, the price is favorable for investors seeking to acquire retail space in a vibrant and growing Chicago neighborhood. With the potential to secure a long-term tenant at a higher rate, the property offers both short-term income and long-term value appreciation.

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Contacts

broker

Tony Hardy

KW ONEChicago

broker

Travis Montgomery

KW ONEChicago

broker

Tracii Randolph

Keller Williams ONEChicago

Location

Getting Around

  • Walk Score ®

    77/100 Very Walkable
  • Transit Score ®

    66/100 Good Transit
  • Bike Score ®

    74/100 Very Bikeable
Powered by Walk Score ®
  • City Chicago, IL
  • Neighborhood Bronzeville
  • Zip Code 60653
  • Market Chicago

Points of Interest

  • 35th-Bronzeville-IIT

    0.84 miles

  • 35th-Bronzewille-IIT (34th Street Entrance)

    0.90 miles

  • Garfield

    1.88 miles

  • 51st-53rd Street (Hyde Park)

    2.08 miles

  • Cermak-McCormick Place

    2.13 miles

  • Halsted

    2.36 miles

  • 55th-56th-57th Street

    2.52 miles

  • Ashland

    2.78 miles

  • Halsted Street

    3.09 miles

  • 63rd Street

    3.23 miles

  • BP

    0.64 miles

  • Mobil

    0.85 miles

  • Citgo

    0.87 miles

  • Shell

    1.38 miles

  • GoLo

    1.43 miles

  • Clark

    1.46 miles

  • ChargePoint

    2.38 miles

  • eVgo

    3.30 miles

  • Blink

    3.30 miles

  • Tesla Supercharger

    3.47 miles

  • Player Lot

    0.97 miles

  • Lot L

    0.99 miles

  • Tailgate Lot

    1.01 miles

  • Lot F

    1.01 miles

  • Bus Parking

    1.04 miles

  • VIP Lot E

    1.05 miles

  • Lot A

    1.08 miles

  • 31st Street Harbor Parking

    1.08 miles

  • Lot B

    1.11 miles

  • Amber Inn Motel

    0.33 miles

  • Wyndham Chicago McCormick Hotel

    1.70 miles

  • The Polo Inn

    1.96 miles

  • Chicago Lake Shore Hotel

    1.96 miles

  • Sophy Hotel

    2.04 miles

  • Hyatt Regency McCormick Place

    2.06 miles

  • SpringHill Suites Chicago Chinatown

    2.07 miles

  • Hyatt Place Chicago-South/University Medical Center

    2.09 miles

  • Hilton Garden Inn, Hampton Inn, & Home2 Suites

    2.13 miles

  • Benedictine Bed and Breakfast

    2.18 miles

  • Pearl's Place Restaurant

    0.35 miles

  • Chicago Rib House

    0.35 miles

  • Bronzeville Wingz

    0.53 miles

  • Cleo's Southern Cuisine

    0.60 miles

  • KFC

    0.65 miles

  • McDonald's

    0.65 miles

  • White Castle

    0.65 miles

  • Surf's Up Bronzeville

    0.65 miles

  • Dunkin'

    0.65 miles

  • Popeyes

    0.66 miles

  • Former Holy Angels School

    0.20 miles

  • Wendell Phillips Academy High School

    0.26 miles

  • James Farmer Jr. Elementary School

    0.35 miles

  • Horner School

    0.36 miles

  • Jacob H. Carruthers Center for Inner City Studies

    0.36 miles

  • Ida B. Wells Elementary School

    0.38 miles

  • Saint Elizabeth School

    0.42 miles

  • Saint Elizabeth Headstart

    0.43 miles

  • Holy Angels Catholic School

    0.43 miles

  • Dawson Technical Institute of Kennedy-King College

    0.47 miles

  • UChicago Child Development Center - Drexel

    2.13 miles

  • The Goddard School

    2.32 miles

  • KinderCare

    2.81 miles

  • A Child’s Space

    3.31 miles

  • Child's World Academic Inc.

    3.50 miles

  • Blocks Child Care Center

    3.63 miles

  • Shiloh Nursery

    3.82 miles

  • DJ Brooks Child Development Center

    3.99 miles

  • Taylor Tots

    4.02 miles

  • LadyBug and Friends Daycare & Preschool

    4.11 miles

Frequently Asked Questions

How much does Turnkey Office/Retail Condo Investment in Bronzeville with Immediate Income and Growth Potential cost?

The space currently listed for sale at Turnkey Office/Retail Condo Investment in Bronzeville with Immediate Income and Growth Potential asks for $350,000.

When was this property built?

Turnkey Office/Retail Condo Investment in Bronzeville with Immediate Income and Growth Potential was built in 1916.

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Contact Turnkey Office/Retail Condo Investment in Bronzeville with Immediate Income and Growth Potential