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4183 W Irving Park Rd 12,804 SF 100% Leased Retail Building Chicago, IL 60641 For Sale
Investment Highlights
- Fully occupied retail center with a six-year weighted average lease term.
- Located near the Old Irving Park Metra Station and I-90/I-94 interchange.
- Diverse mix of healthcare, dining, optical, and neighborhood service tenants.
- Frontage on Irving Park Road with visibility to more than 30,000 vehicles daily.
- Anchored by LifeStance Health, a national outpatient healthcare operator.
- Includes 29 on-site parking spaces supporting customer accessibility.
Executive Summary
Property Address: 4185 West Irving Park Road, Chicago, IL
Property Size: 12,804 SF
Occupancy: 100%
Year Built: 2016
Parking Spaces: 29
WALT: 6 Years
Year 1 NOI: +/- $440,000
5-Year CAGR: +/- 2.3%
Investment Highlights
Premier infill location with exceptional accessibility, visibility, & demographics
o Positioned along Irving Park Road (30,000+ VPD) with immediate access to and prominent signage to daily commuter traffic on I-90 (245,000+ VPD)
o Adjacent to Old Irving Metra Station, providing connectivity to Downtown Chicago & O’Hare
o Average household income of $125k in 1-mile, increasing to $145k in half-mile radius
Stabilized cash flow with demonstrated leasing momentum
o 100% occupied strip center with 6-year WALT
o Recently executed long-term lease with Big City Optical
o National and regional operators include Potbelly & Lou Malnati's, providing brand recognition and tenant credit strength
Ideal tenant mix anchored by national healthcare operator
o LifeStance Health, one of the largest outpatient mental healthcare providers in the US, is responsible for 42.5% of GLA and +/- 35% of income
o Complementary mix of medical, food, and neighborhood service tenants creates internal synergy and consistent foot traffic
Property Size: 12,804 SF
Occupancy: 100%
Year Built: 2016
Parking Spaces: 29
WALT: 6 Years
Year 1 NOI: +/- $440,000
5-Year CAGR: +/- 2.3%
Investment Highlights
Premier infill location with exceptional accessibility, visibility, & demographics
o Positioned along Irving Park Road (30,000+ VPD) with immediate access to and prominent signage to daily commuter traffic on I-90 (245,000+ VPD)
o Adjacent to Old Irving Metra Station, providing connectivity to Downtown Chicago & O’Hare
o Average household income of $125k in 1-mile, increasing to $145k in half-mile radius
Stabilized cash flow with demonstrated leasing momentum
o 100% occupied strip center with 6-year WALT
o Recently executed long-term lease with Big City Optical
o National and regional operators include Potbelly & Lou Malnati's, providing brand recognition and tenant credit strength
Ideal tenant mix anchored by national healthcare operator
o LifeStance Health, one of the largest outpatient mental healthcare providers in the US, is responsible for 42.5% of GLA and +/- 35% of income
o Complementary mix of medical, food, and neighborhood service tenants creates internal synergy and consistent foot traffic
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
12,804 SF
Building Class
B
Year Built
2016
NOI
$440,000
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.40
Lot Size
0.74 AC
Zoning
PD 1270 - Planned Development
Parking
29 Spaces (2.05 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
Fairly walkable
50/100
Moderately drivable
70/100
Exceptional public transit
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-22-203-025-0000 | Improvements Assessment | $285,798 |
| Land Assessment | $171,203 | Total Assessment | $457,001 |
Property Taxes
Parcel Number
13-22-203-025-0000
Land Assessment
$171,203
Improvements Assessment
$285,798
Total Assessment
$457,001
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