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$ 1,800,000
Est. payment | /mo
9,235 SqFt
$ 1,800,000
Est. payment | /mo
9,235 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 9,235 sqft
Price per Sqft $194
Lot Size 10,000 Sqft
Property Description
Exceptional investment opportunity in Chicago's sought-after Old Irving Park neighborhood. This professionally managed, approximately 9,500-square-foot commercial condominium portfolio features six office and retail units with an established tenant mix that includes Edible Arrangements, The Art of Being, and CEDA WIC.
The property generates approximately $234,332 in annual gross income and $146,212 in net operating income, providing an attractive 8.12% cap rate at the $1,800,000 asking price. Tenant lease structures include expense reimbursements and scheduled rent increases, supporting stable cash flow and long-term investment performance.
Extensively renovated in 2023, the property occupies a highly visible signalized corner at Irving Park Road and Lowell Avenue. It benefits from prominent storefront exposure, recent city streetscape improvements, and convenient access to I-90/94, the CTA Blue Line, Metra, downtown Chicago, and the nearby Northwestern Medicine facility.
With established tenants, strong income, excellent visibility, and a prime Old Irving Park location, this offering presents a compelling opportunity to acquire a turnkey Chicago commercial asset. Buyer to verify occupancy, financials, lease terms, square footage, and all property information.
The property generates approximately $234,332 in annual gross income and $146,212 in net operating income, providing an attractive 8.12% cap rate at the $1,800,000 asking price. Tenant lease structures include expense reimbursements and scheduled rent increases, supporting stable cash flow and long-term investment performance.
Extensively renovated in 2023, the property occupies a highly visible signalized corner at Irving Park Road and Lowell Avenue. It benefits from prominent storefront exposure, recent city streetscape improvements, and convenient access to I-90/94, the CTA Blue Line, Metra, downtown Chicago, and the nearby Northwestern Medicine facility.
With established tenants, strong income, excellent visibility, and a prime Old Irving Park location, this offering presents a compelling opportunity to acquire a turnkey Chicago commercial asset. Buyer to verify occupancy, financials, lease terms, square footage, and all property information.
Location
State IL
County Cook
Listed by Michael Kang • Spacematch Inc.