514 W 71st Street, Chicago, IL 60621

• 4,600 sqft

Property Description

Prime Investment Opportunity with Expansion Potential. Don't miss this unique commercial property offering exceptional upside. Situated adjacent to a city-owned vacant lot, this building presents a rare opportunity for future growth and potential expansion (buyer to verify possibilities with the city). The property features three storefronts, including two established long-term tenants, providing immediate income stability. The existing tenants hold valid licenses and may continue operating under current approvals, offering added security for investors. Currently zoned RT-4, the property would require rezoning for certain commercial redevelopment opportunities, making it an ideal candidate for investors or developers seeking to reposition and maximize value. Being sold as-is, this property is perfect for those looking to capitalize on its strong location, reliable tenant base, and long-term growth potential.

Listing Status:

Active

Data Last Updated:

May 22, 2026 at 7:18AM

Listing Office:

HomeSmart Realty Group : 708-320-0002

Listing Agent:

Aladdin Shelo : 773-410-4700

MLS ID:

12582502

Interior

• A/C: Central Air

Location

• HOA Amenities: Not Applicable
• Originating MLS: mred
• County: Cook

Lot

• Zoning: 20213260160000
• Current Use: Zoning Change Required

Utilities

• Utilities: Separate Meters

Financial

• Source: mred