Bishop Plaza 3 Retail Properties in Chicago, IL

Bishop Plaza presents a rare opportunity to acquire a stabilized, institutional-quality retail and medical center in Chicago’s dynamic New City. Spanning 76,075 square feet across 4.63 acres, the property is 96% leased and features a robust tenant mix, anchored by Burlington and CSL Plasma, both of which are secured under long-term net leases. Additional national tenants include USPS, America’s Best, Little Caesars, Aviva Wholesale, and UI Health, complemented by local favorites that foster strong community engagement.
Strategically located at the high-traffic intersection of 47th Street and Bishop Street, the site benefits from 13,300 vehicles passing by daily, a Walk Score of 78, and direct access to CTA bus and train lines, as well as I-90/94 and I-55. The surrounding area boasts over 311,000 residents within a three-mile radius and is undergoing significant reinvestment, including new mixed-use developments and logistics infrastructure.
Recent capital improvements, such as roof replacements and parking lot upgrades, minimize near-term capital needs. Meanwhile, below-market rents and 3,000 SF of vacancy offer upside potential. The property is situated within a federally designated Opportunity Zone, offering substantial tax advantages for investors seeking long-term growth and stability.