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101-115 E 51st St Chicago, IL 60615 2 Retail Properties Offered at $1,150,000 in Chicago, IL
Investment Highlights
- Stable Income with Upside: $185K PGI with upside to $213K via lease-up of one vacancy, offering immediate NOI growth potential.
- Long-Term Tenant Stability: Tenants in place since 2006 with leases through 2030, minimizing turnover and vacancy risk.
- Transit & Institutional Access: Near CTA Green Line and major anchors like University of Chicago and Obama Presidential Center.
- Prime Corner Location: Signalized 51st & Michigan Ave corner with ~12,548 VPD and 165 FT frontage for strong visibility. Long-Term Tenant Stability
- Restaurant-Ready Spaces: Multiple units with Type I hoods and kitchens, ideal for QSR and food-based tenants.
- High-Growth Corridor: Located in a redeveloping South Side corridor with strong demographics and investment momentum.
Executive Summary
WASHINGTON PARK RETAIL CENTER
101–115 E 51st St, Chicago, IL 60615
KW Commercial is pleased to offer the opportunity to purchase Washington Park Retail Center, a stabilized, neighborhood-serving retail asset located at the signalized intersection of 51st Street and Michigan Avenue in Chicago’s South Side. The property benefits from strong visibility, consistent traffic, and proximity to major institutional anchors including the University of Chicago and Hyde Park.
Property Details:
- Building Size: 7,953 SF
- Lot Size: 17,948 SF
- Price: $1,150,000
- Zoning: B3-3 (Community Shopping District)
- Tenancy: 7 units (6 occupied)
- Parking: 9+ surface spaces
- Frontage: 165 FT on 51st Street
Investment Highlights:
Stable Income with Upside:
- Current PGI: $185,316
- Stabilized PGI: $213,516
- Value-add through lease-up of one vacancy
Established Tenant Base
- Long-term occupancy with tenants in place since 2006
- Lease terms extending through 2030
- Mix of service and food-based users
Food-Ready Infrastructure
- Multiple spaces with Type I hoods and kitchen build-outs
- Ideal for restaurant and QSR users
Prime Location & Accessibility
- Signalized corner with ~12,548 VPD
- Two blocks from CTA Green Line (51st Street Station)
- Strong surrounding population and retail corridor
Recent Improvements:
- Roof recoated (2017)
- Parking lot restriped (2026)
- Ongoing maintenance and strong operational history
Opportunity:
Positioned in a rapidly improving corridor influenced by institutional growth and ongoing redevelopment, this asset offers both in-place stability and long-term appreciation potential.
Contact:
Contact the listing broker to obtain the Offering Memorandum, which includes comprehensive property details, financials, rent roll, and supporting due diligence materials.
Listing Broker:
Manny Regalado
Senior Director
312.730.2029 (m)
312.216.2422 (o)
mregalado@kwcommercial.com (e)
KW Commercial
101–115 E 51st St, Chicago, IL 60615
KW Commercial is pleased to offer the opportunity to purchase Washington Park Retail Center, a stabilized, neighborhood-serving retail asset located at the signalized intersection of 51st Street and Michigan Avenue in Chicago’s South Side. The property benefits from strong visibility, consistent traffic, and proximity to major institutional anchors including the University of Chicago and Hyde Park.
Property Details:
- Building Size: 7,953 SF
- Lot Size: 17,948 SF
- Price: $1,150,000
- Zoning: B3-3 (Community Shopping District)
- Tenancy: 7 units (6 occupied)
- Parking: 9+ surface spaces
- Frontage: 165 FT on 51st Street
Investment Highlights:
Stable Income with Upside:
- Current PGI: $185,316
- Stabilized PGI: $213,516
- Value-add through lease-up of one vacancy
Established Tenant Base
- Long-term occupancy with tenants in place since 2006
- Lease terms extending through 2030
- Mix of service and food-based users
Food-Ready Infrastructure
- Multiple spaces with Type I hoods and kitchen build-outs
- Ideal for restaurant and QSR users
Prime Location & Accessibility
- Signalized corner with ~12,548 VPD
- Two blocks from CTA Green Line (51st Street Station)
- Strong surrounding population and retail corridor
Recent Improvements:
- Roof recoated (2017)
- Parking lot restriped (2026)
- Ongoing maintenance and strong operational history
Opportunity:
Positioned in a rapidly improving corridor influenced by institutional growth and ongoing redevelopment, this asset offers both in-place stability and long-term appreciation potential.
Contact:
Contact the listing broker to obtain the Offering Memorandum, which includes comprehensive property details, financials, rent roll, and supporting due diligence materials.
Listing Broker:
Manny Regalado
Senior Director
312.730.2029 (m)
312.216.2422 (o)
mregalado@kwcommercial.com (e)
KW Commercial
Property Facts
| Price | $1,150,000 | Number of Properties | 2 |
| Price / SF | $146.81 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 7,833 SF |
| Status | Active | Total Land Area | 0.75 AC |
| Price | $1,150,000 |
| Price / SF | $146.81 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 7,833 SF |
| Total Land Area | 0.75 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 101-109 E 51st St, Chicago, IL 60615 | Retail | 4,430 SF | 1918 | - |
| 109-115 E 51st St, Chicago, IL 60615 | Retail | 3,403 SF | 2005 | - |
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101-115 E 51st St Chicago, IL 60615
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