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Atlantic Professional Building 3948 W 26th St 57,966 SF 56% Leased Office Building Chicago, IL 60623 $3,000,000 ($51.75/SF) 4.97% Cap Rate
Investment Highlights
- Atlantic Professional Building Available for Sale for the 1st time in 50 years
- Major value add play in raising rents, and leasing out vacant office spaces
- Potential for redevelopment and acquisition of adjacent building
- 57,966 SF Office Building located in Hot Little Village
- Potential for user to use majority of the building
- Central States SER Cook County Workforce is long term anchor tenant in the building
Executive Summary
Asset has the ability to achieve $570,000 NOI through lease up (Current NOI is $148,964 at 56% leased)
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
57,966 SF
Building Class
C
Year Built/Renovated
1918/2004
Price
$3,000,000
Price Per SF
$51.75
Cap Rate
4.97%
NOI
$148,964
Percent Leased
56%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
19,800 SF
Building FAR
0.96
Lot Size
1.38 AC
Zoning
B-3 - Community Shopping District
Amenities
- Bus Line
- Property Manager on Site
- Security System
- Air Conditioning
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Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 16-26-118-033-0000 | Improvements Assessment | $646,235 |
| Land Assessment | $63,515 | Total Assessment | $709,750 |
Property Taxes
Parcel Number
16-26-118-033-0000
Land Assessment
$63,515
Improvements Assessment
$646,235
Total Assessment
$709,750
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Atlantic Professional Building | 3948 W 26th St
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