Former Bank Branch | Full-Acre Chatham Corner 8700 S King Dr Local commercial 743 m² À vendre Chicago, IL 60619 753 428 € (1 013,73 €/m²)

GN Bank is selling its former Chatham bank branch location, presenting an investment or owner/user opportunity to acquire 371 E 87th Street in Chicago, Illinois, a corner-site comprised of three parcels (also addressed 8700 S King Drive).

Subject offers a rare, full-acre signalized-corner site with purpose-built banking infrastructure. The property has 8,000 square feet of rentable space and totals 8,430 gross square feet. The single-story masonry building was constructed in 2000 and features five drive-thru lanes (two canopied), drive-up vaults, an interior vault, a dedicated security room, and hardened construction throughout. Since being sold strictly as-is/where-is, a new owner can plan a gut renovation or systems retrofit.

Chatham's healthcare and pharmacy demand is real; the neighborhood lost its last Walgreens in June 2026, the Ward 6 pharmacy-access pilot is active, TCA Health's 340B clinic operates 2.5 blocks east, and the corridor has seen recent conversions of former bank buildings (a national QSR redeveloped the ex-Seaway drive-thru branch nearby). The drive-thru lanes suit pharmacies, clinics, QSRs, credit unions, or any queue-based operation. The CTA #87 bus stop is located at the corner of the signalized intersection, driving visibility and foot traffic.

Business redevelopment is supported under the subject’s B3-1 zoning (Community Shopping District). Property Taxes: TY2024 $66,323 (all parcels; seller clears all property-tax arrears at or before closing).

Terms: Offering Price is $875,000. As-is/where-is, no repair credits (condition is priced in). Cash or proof of funds preferred; quick close available; seller can deliver a clear title on a standard title company timeline. Buyer's inspections welcome during a defined diligence window.

Subject’s existing condition summary:
- The building has been vacant and secured (steel window/door guards) since late 2024.
- A November 2024 forced-entry/ATM-theft incident damaged the drive-up area, interior plumbing and electrical, and portions of the bathrooms and ceilings; the damage is unrepaired.
- Roof leakage has been documented since 2021-2022; ceiling water staining is present. The buyer should budget for roof work.
- The parking lot requires full replacement (the owner obtained a replacement proposal in 2024).
- Electric and gas services are disconnected; buyer re-energizes.

Full written condition disclosure and photo set available to serious buyers on request.

Inquire today for more information.