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$499,000
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Property Description
EXCELLENT owner-user or investor opportunity on Chicago's East 87th Street commercial corridor. This one-story commercial storefront property includes 2 PIN numbers, approximately 2,930 sq ft of building area, approximately 6,250 sq ft of land, 3 units, and 3 bathrooms. The property underwent substantial renovations in 2023, with reported improvements totaling over $362,000, including work related to architectural services, demolition, masonry/storefront, carpentry, roofing, drywall/ceiling, flooring, painting, plumbing, HVAC, electrical, and cleaning. The sale also includes business-related assets, with approximately $20,000 in equipment and $24,000 in fixtures, creating a strong turnkey opportunity for the next operator or investor. Located along a visible commercial stretch of E 87th St, this property offers strong neighborhood exposure and flexible use potential for retail, service, office, or business operations. The 3-unit configuration provides added functionality for an owner-occupant, multi-tenant setup, or income-producing strategy. With major capital improvements already completed, and a larger two-parcel site, this is a rare opportunity. Property is being sold as-is.
Full Property Details
Full Property Details for 1851 E 87th St
General
- Price: $499,000
- Taxes: $7,269 (2025)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12650434
- Updated: 6/22/2026
- Added to Site: 49 day(s) ago
Business
- Business Type: Retail
Additional Information
- Security/Safety: Alarm on Site, Smoke or Fire Protectors
Location
- Area: CHI - Calumet Heights
- County: Cook
- Township: South Chicago
- Driving Directions: 87th Street east to location, South side of 87th Street.
- Location Details: Commercial Business Park, Mixed-Use Area, Public Transport Avail
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air
Utilities
- Water: Municipal Water
- Onsite: Electricity to Site, Natural Gas Available
Structural Information
- Construction: Brick, Concrete
- Exterior Const.: Brick, Concrete
- Foundation: Concrete Perimeter
- Roof: Tar/Gravel
- Stories/Levels: 1
- Square Feet: 2,930
- Current Bldg. Use: Commercial, Other
- Year Built: 1946
Lot Features
- Lot Size (Sq. Ft.): 6,250
- Lot Dimensions: 40 x 150
- Frontage: City Street
- Drainage: Drain Tiles, Floor Drains
- Zoning: RTAIL
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Assoc Fee Freq.: Annually
- Security Deposit: Alarm On Site, Smoke or Fire Protectors
- Assessment Year: 1946
- Tax Amount: $7,269.04
- Tax Year: 2025
Disclosures and Reports
- Property ID: 25011070070000
Listed by Ford Desired Real Estate LLC
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Schools
Schools serving 1851 E 87th St
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Caldwell Elementary Academy Of Math & Sci 8546 South Cregier Avenue, Chicago, IL 60617 | 6-8 | 0.2 mi |
Bowen High School 2710 East 89th Street, Chicago, IL 60617 | 9-11 | 1.1 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1851 E 87th St
Date
Details
Price
Change
Source
6/22/2026
Price Reduced
$499,000
-4.93%
MLS
5/19/2026
Listed
$524,900
366.58%
MLS
5/28/2013
Sold
$112,500
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1851 E 87th St
Year
Property Taxes
Change
Tax Assessment
Change
2023
$4,635
—
$27,469
47%
2023
$4,635
3%
$18,646
—
2022
$4,497
1%
$18,646
—
2021
$4,432
-10%
$18,646
-2%
2020
$4,951
11%
$19,058
—
2019
$4,451
2%
$19,058
—
2018
$4,372
-35%
$19,058
-30%
2017
$6,720
-41%
$27,278
-45%
2016
$11,435
8%
$50,008
—
2015
$10,636
-1%
$50,008
—
2014
$10,769
1%
$50,008
—
2013
$10,650
2%
$50,008
—
2012
$10,471
—
$50,008
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1851 E 87th St
1851 E 87th Street, Chicago, IL 60617 (MLS# 12650434) is a Commercial property. 1851 E 87th Street is currently listed for $499,000 and was received on May 19, 2026. Want to learn more about 1851 E 87th Street? Do you have questions about finding other Commercial real estate for sale in Calumet Heights? You can browse all Calumet Heights real estate or contact a Coldwell Banker agent to request more information.

