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103rd & Michigan 10250 Michigan Ave 19,922 SF 100% Leased Retail Building Chicago, IL 60628 $2,700,000 ($135.53/SF) 6.04% Cap Rate
INVESTMENT HIGHLIGHTS
- Value Add Center
- Existing Long Term National Tenants
- High Traffic Area
- Major Shopping District
- Densely Populated Area
- On Site Parking 50 plus spaces
EXECUTIVE SUMMARY
Great Value Add Opprtunity. +/-20,000sf Retail Center on a +/-51,000sf site. The center is Anchored by Chase Bank in the 4,015sf eastern end unit and Autzone in the 7,507sf western end unit. All leases are triple net. The inline space in the middle is 8,406sf. It was formerly occupied by Family Dollar. t. NOI at 100% occupancy based on current market rents in the area is estimated to be approximately $243,000-$250,000/yr. potentially generating a 9.26% cap rate.
PROPERTY FACTS In Escrow
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Building Size
19,922 SF
Building Class
C
Year Built/Renovated
1987/2005
Price
$2,700,000
Price Per SF
$135.53
Cap Rate
6.04%
NOI
$163,100
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.39
Lot Size
1.17 AC
Zoning
B3-1 - The primary purpose of the B3 Zoning is for a Community Shopping district is to accommodate a very broad range of retail and service uses.
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Auto Zone
- Retailer
- 7,507 SF
- $11.00
- Triple Net
- Dec 2029
- Chase Bank
- Services
- 4,015 SF
- $20.00
- Triple Net
- Dec 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Auto Zone | Retailer | 7,507 SF | $11.00 | Triple Net | Dec 2029 | |
| Chase Bank | Services | 4,015 SF | $20.00 | Triple Net | Dec 2030 |
Walk Score®
Very Walkable (76)
NEARBY MAJOR RETAILERS
1 of 5
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103rd & Michigan | 10250 Michigan Ave
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