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Lake Park Plaza 1400 E 47th St 20,815 SF 100% Leased Retail Building Chicago, IL 60653 $6,950,000 ($333.89/SF) 7.03% Cap Rate

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Investment Highlights

Neighborhood Strip Center Leased to an Excellent Mix of Food and Service Tenants
Leases Feature Annual Rent Increases, Providing an Investor with an Optimal Hedge Against Inflation | Five-Year CAGR of 2.58 Percent
0.2 miles from 47th Street Exit of Lake Shore Drive, which sees 108,300 vehicles per day

Diversified Income Stream with 10 out of 11 Tenants Accounting for Less than 76 Percent of Total Base Rent
Highly Stable Rent Roll | Weighted Average Lease Term (WALT) of 5.34 Years
0.2 miles from Kenwood (47th Street) Metra Train Station | Metra Served 3.68 Million Passengers in 2025

Executive Summary

Investors are offered the rare opportunity to acquire a 20,815 square foot unanchored strip center located in one of the most supply constrained markets in the country. Lake Park Plaza is ideally positioned at the hard corner, lighted intersection of 47th Street and Lake Park Avenue, less than one quarter mile from Lake Michigan. The center features direct access off Lake Shore Drive (108,300 vehicles per day) and is situated steps from the Kenwood Metra Station. Surrounding Lake Park Plaza are numerous high density residential complexes which provide a steady stream of patrons to tenant base. The Kenwood/Hyde Park area is densely populated and affluent with a daytime population of 110,737 people within a two-mile radius and an average household income of $128,057 within a 0.5-mile radius. Area landmarks include the University of Chicago, world renowned University of Chicago Medical Center and the Obama Presidential Center. Underpinning the center’s exceptional location are strong property level fundamentals. Lake Park Plaza benefits from a secure weighted average lease term (WALT) of 5.34 years. NOI growth is strong as all tenant leases have annual rent increases, resulting in a five-year CAGR of 2.58 percent. Furthermore, the tenant roster contains an optimal mix of food and service users, providing an investor with a true daily need/necessity-based center.

Lake Park Plaza_costar brochure

Property Facts

Sale Type

Investment

Property Type

Retail

Building Size

20,815 SF

Building Class

Year Built

1990

Price

$6,950,000

Price Per SF

$333.89

Cap Rate

7.03%

NOI

$488,594

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.91

Lot Size

0.52 AC

Zoning

B3-3 - Community Shopping

Parking

62 Spaces (3.17 Spaces per 1,000 SF Leased)

Frontage

122’ on 47th St

Pylon Sign

Retailer
-
-
Jan 0000

Dunkin, formerly known as Dunkin’ Donuts, is a global quick-service restaurant brand headquartered in Canton, Massachusetts. Founded in 1950 by William Rosenberg in Quincy, Massachusetts, Dunkin specializes in coffee, baked goods, and breakfast sandwiches. The company operates under a 100% franchise model and is part of Inspire Brands, a privately held restaurant group. Dunkin has grown into one of the largest coffee and baked goods chains worldwide, serving millions of customers daily. Its menu includes hot and iced coffee, espresso beverages, donuts, bagels, and other breakfast items. Dunkin rebranded in 2019 to emphasize its beverage-led strategy while maintaining its iconic donut offerings. Today, the brand operates over 12,000 locations in more than 40 countries, including approximately 9,800 stores in the United States.

Tenant	Industry	SF Occupied	Rent/SF			Lease End
	Retailer	-	-			Jan 0000

Space Availability

Space
Size
Space Use
Position
Available

I
1,100 SF
Restaurant
In-Line
Jul 2026

TENTATIVE AVAILABILITY. The Lease currently terminates in June, 2026. The Tenant has the opportunity to extend its lease for 3 years, but has not yet done so.