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3957 S King Drive, Chicago, IL 60653
sale
$350,000
|
Other
Courtesy Of Keller Williams Chicago ONEChicago
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.
Copyright © 2025 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 1
- Cooling System: Central Air
- MLSID: 12217779
Directions to This Property
3957 S King Drive, Chicago, IL 60653
Demographic Data for 3957 S King Drive, Chicago, IL 60653
Average Age
40
Married
16%
Number of Homes
14,969
Homes with Children
22.13%
Occupation Type
Transportation to Work
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
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