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2500 W Chicago Ave 17,000 SF 100% Leased Retail Building Chicago, IL 60622 $3,500,000 ($205.88/SF) 7.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Rarely available 100% leased, investment opportunity in Ukranian Village/Wicker Park
- Building has top of the line amenities and 2 huge 2nd floor Apartments.
- Located in one of the fastest growing Neighborhoods in the Country for young professionals.
- Home to Split Rail/Villanelle and Dorothy's Downstairs. Offered at 7.2% Cap Rate.
- Building features an impressive 5,000 SF Bow-Truss Style, Live/Work space perfect for owner/user or to lease out.
- Buyers must sign NDA to review Financial Documents, Leases and Rent Roll.
EXECUTIVE SUMMARY
Friedman Real Estate is pleased to present this rare opportunity on the north side of Chicago. 2500 W Chicago Ave is a mixed-use retail/residential building on a corner located in Ukrainian Village/Wicker Park. This building has gone through extensive renovation and now features Class A amenities. The property is 100% leased with long-term tenants. The retail space is occupied by Split Rail/Villanelle since 2016 who has a large and loyal customer base. The same proprietor also leases the downstairs space - Dorothy's. The 2nd floor features 2 huge apartments. The rear 5,000 SF class Chicago bow-truss space is currently leased by the building by the building owners and must be viewed to really appreciate the amazing potential for an owner-user of to lease out. This live-work space has been renovated for office use, entertainment or a showroom. It has a mezzanine floor and a car lift. Please contact the broker for further details. Buyers must sign an NDA prior to reviewing financial documents and rent rolls.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
17,000 SF
Building Class
C
Year Built/Renovated
1940/2017
Price
$3,500,000
Price Per SF
$205.88
Cap Rate
7.20%
NOI
$252,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.71
Lot Size
0.23 AC
Zoning
B4-2, Chicago
Frontage
AMENITIES
- Bus Line
- Corner Lot
- Signage
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (85)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 16-01-429-040-0000 | Improvements Assessment | $129,180 |
| Land Assessment | $50,820 | Total Assessment | $180,000 |
PROPERTY TAXES
Parcel Number
16-01-429-040-0000
Land Assessment
$50,820
Improvements Assessment
$129,180
Total Assessment
$180,000
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2500 W Chicago Ave
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