Log In/Sign Up
Your email has been sent.
424 E 71st St 4,800 SF 100% Leased Retail Building Chicago, IL 60619 $525,000 ($109.38/SF) 11% Cap Rate
Investment Highlights
- Approximately 9 miles south of the Loop.
- Long-term tenants including a laundromat, nail salon, and beauty supply store.
- High-traffic corridor with nearby intersection seeing 25,000+ vehicles per day.
- Prime corner location with excellent street visibility.
Executive Summary
Incredible cash flowing strip center that is already producing a 11% Cap Rate. This is a prime three unit commercial corner property successfully run as a neighborhood street level retail center with longtime laundromat, nail salon and beauty supply tenants. Two tenants just executed three-year leases with 4% annual escalation while the third just signed a five-year lease with 3% annual escalations. Tenants pay for all utilities. This 100% occupied 4,800 SF freestanding three-unit building has 148 ft 71st Street frontage. Located in the Park Manor area of the Greater Grand Crossing community 9 miles south of the Loop. Easy access to the Eden's Expressway and The Skyway. Nearby intersection has 25,000+ VPD. Zoned B3-1 – Community Shopping District. Located in the 67th/Wentworth TIF District. The district is intended to foster new residential, commercial, and mixed-use development investment opportunities. Other grant options are possible, such as the Neighborhood Opportunity Fund and the R3 Grant.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$96,139
|
$20.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,807
|
$1.00
|
| Effective Gross Income |
$91,332
|
$19.03
|
| Taxes |
$13,032
|
$2.72
|
| Operating Expenses |
$9,932
|
$2.07
|
| Total Expenses |
$22,964
|
$4.78
|
| Net Operating Income |
$68,368
|
$14.24
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $96,139 |
| Annual Per SF | $20.03 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,807 |
| Annual Per SF | $1.00 |
| Effective Gross Income | |
|---|---|
| Annual | $91,332 |
| Annual Per SF | $19.03 |
| Taxes | |
|---|---|
| Annual | $13,032 |
| Annual Per SF | $2.72 |
| Operating Expenses | |
|---|---|
| Annual | $9,932 |
| Annual Per SF | $2.07 |
| Total Expenses | |
|---|---|
| Annual | $22,964 |
| Annual Per SF | $4.78 |
| Net Operating Income | |
|---|---|
| Annual | $68,368 |
| Annual Per SF | $14.24 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,800 SF
Building Class
C
Year Built
1915
Price
$525,000
Price Per SF
$109.38
Cap Rate
11%
NOI
$57,750
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.79
Lot Size
0.14 AC
Zoning
B3-1 - Community Shopping District
Frontage
148’ on E 71st St
Amenities
- Bus Line
- Corner Lot
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- A Beauty Supply
- Retailer
- 1,500 SF
- $19.80
- Modified Gross
- Oct 2026
- Collins Laundromat
- -
- 1,800 SF
- $17.17
- Modified Gross
- Oct 2028
- Nail Bling Salon
- Retailer
- 1,500 SF
- $23.69
- Modified Gross
- Oct 2026
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| A Beauty Supply | Retailer | 1,500 SF | $19.80 | Modified Gross | Oct 2026 | |
| Collins Laundromat | - | 1,800 SF | $17.17 | Modified Gross | Oct 2028 | |
| Nail Bling Salon | Retailer | 1,500 SF | $23.69 | Modified Gross | Oct 2026 |
Walk Score®
Very Walkable (80)
Transit Score®
Excellent Transit (70)
Property Taxes
| Parcel Number | 20-22-419-042-0000 | Total Assessment | $135,500 (2025) |
| Land Assessment | $14,880 (2025) | Annual Taxes | $13,032 ($2.72/SF) |
| Improvements Assessment | $120,620 (2025) | Tax Year | 2023 |
Property Taxes
Parcel Number
20-22-419-042-0000
Land Assessment
$14,880 (2025)
Improvements Assessment
$120,620 (2025)
Total Assessment
$135,500 (2025)
Annual Taxes
$13,032 ($2.72/SF)
Tax Year
2023
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
424 E 71st St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.