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Listing provided courtesy of Century 21 CircleMREDas Distributed by MLSGrid- MLS# 12548055MLS Provider

7621 S Cottage Grove AvenueChicago, IL 60619

Commercial · 18,000 Sq. ft.
$2,300,000 Active

7621 S Cottage Grove Avenue Overview

Time on Site:
164 days
Visits:
0

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.

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7621 S Cottage Grove Avenue Facts & Features

  • Type Commercial
  • Sq. ft. 18,000
  • Price/Sq.ft. $128

Details

General

Income/Expenses

  • Operating Expense: 0

Business Information

  • Business Type: Hotel/Motel

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Greater Grand Crossing

Tax Information

  • Tax Annual Amount: $147,222.00
  • Tax Year: 2024

General Information

  • Parcel Number: 20263080040000
  • Property Type: Business Opportunity

Interior

Building Interior

  • Building Area Total: 18000

General Information

  • Cooling: Central Air
  • Stories: 3

Unit Information

  • Unit SqFt.: 18000

Exterior

Lot Information

  • Additional Parcels: Yes
  • Lot Size Dimensions: 108x124
  • Lot Size Square Feet: 13392

Building Exterior/Construction

  • Construction Materials: Brick, Concrete

7621 S Cottage Grove Avenue Neighborhood

Community

60619 (CHICAGO) Demographics

42
Median Age
10,192
Population Density (per sq. mile)
35%
College Educated
$40,762
Estimated Median Income
12,181
Estimated Total Home Owners
15,093
Estimated Total Renters
45% / 55%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

7621 S Cottage Grove Avenue Monthly Cost

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Corinne Guerra
* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

7621 S Cottage Grove Avenue Market Data

Based on the last 30 days in this zip code

$215,577
Average List Price
$140
Average Price per Square Foot
34
Properties Sold
82
Average Days on Market
178
Properties for Sale
Calculations provided by Reliance Network

7621 S Cottage Grove Avenue History

Date Event Value Agent
1/21/2026Source: MRED Status Change
Active
1/16/2026Source: MRED Added to Database
January 16, 2026