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1552 W Fullerton Ave 800 SF Office/Retail Condo Unit Offered at $253,000 in Chicago, IL 60614
Executive Summary
• Large, tinted all-glass storefront frontage offering visibility and abundant natural light. • Interior configuration includes a reception area, private offices and ADA-compliant restroom. • Central individual air conditioning. • Existing retail and office configuration offers future reuse flexibility following the current lease term. • Compact asset size excellent for an investor seeking an accessible Chicago commercial real estate investment. • Low entry-price real estate investment with a NNN lease structure limits the owner’s operating-expense exposure without the management requirements of a larger multi-tenant building. The existing lease provides in-place income without an immediate lease-up requirement.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 8.64% |
| Sale Type | Investment |
| Cap Rate | 8.64% |
Description
- Large, tinted all-glass storefront frontage offering visibility and abundant natural light.
- Interior configuration includes a reception area, private offices and ADA-compliant restroom.
- Central individual air conditioning.
- Existing retail and office configuration offers future reuse flexibility following the current lease term.
- Compact asset size excellent for an investor seeking an accessible Chicago commercial real estate investment.
Low entry-price real estate investment with a NNN lease structure limits the owner’s operating-expense exposure without the management requirements of a larger multi-tenant building. The existing lease provides in-place income without an immediate lease-up requirement.
Sale Notes
Acquire an ~800-square-foot, first-floor commercial condo on Fullerton Avenue in Chicago’s Lincoln Park neighborhood. The property is leased to national tenant, Rentokil, under a NNN lease with over two years remaining, offering in-place income at an 8.64% cap return in a compact urban investment format.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 1 | 800 SF | Office/Retail | $253,000 ($316.25/SF) | $21,852 |
Unit 1
| Unit Size |
| 800 SF |
| Condo Use |
| Office/Retail |
| Price |
| $253,000 ($316.25/SF) |
| NOI |
| $21,852 |
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Unit 1
| Unit Size | 800 SF |
| Condo Use | Office/Retail |
| Price | $253,000 ($316.25/SF) |
| NOI | $21,852 |
| Sale Type | Investment |
| Cap Rate | 8.64% |
| Description | |
| <ul style="list-style: disc; padding: 0px 0px 0px 40px"><li> Large, tinted all-glass storefront frontage offering visibility and abundant natural light.<br> </li><li> Interior configuration includes a reception area, private offices and ADA-compliant restroom.<br> </li><li> Central individual air conditioning.<br> </li><li> Existing retail and office configuration offers future reuse flexibility following the current lease term.<br> </li><li> Compact asset size excellent for an investor seeking an accessible Chicago commercial real estate investment.<br> Low entry-price real estate investment with a NNN lease structure limits the owner’s operating-expense exposure without the management requirements of a larger multi-tenant building. The existing lease provides in-place income without an immediate lease-up requirement.</li></ul> | |
| Sale Notes | |
| Acquire an ~800-square-foot, first-floor commercial condo on Fullerton Avenue in Chicago’s Lincoln Park neighborhood. The property is leased to national tenant, Rentokil, under a NNN lease with over two years remaining, offering in-place income at an 8.64% cap return in a compact urban investment format.</li></ul> |
Property Facts
The following property facts apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 6,048 SF | Floors | 4 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 2,000 SF |
| Property Subtype | Apartment | Year Built | 2000 |
| Building Class | B | Lot Size | 0.07 AC |
| Zoning | B3-2, Chicago - B3-2 | ||
| Total Building Size | 6,048 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 2,000 SF |
| Year Built | 2000 |
| Lot Size | 0.07 AC |
| Zoning | B3-2, Chicago - B3-2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Major Tenant Information Click Here to Access
| TENANT | SF Occupied | LEASE END DATE |
|---|---|---|
| Rentokil |
-
|
Jan 0000
|
1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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1552 W Fullerton Ave
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