2,576 sq ft
Commercial: Mixed Use - MLS# 12513665
Tools & Resources:
Description
Presenting a single-tenant NNN investment opportunity in the West Lincoln Park neighborhood of Chicago. The property is 100% occupied by Mpower Energy, a well-established independent retail supplier of electricity and natural gas. They have occupied the entire building since 2019. Mpower Energy will execute a new 5-year NNN lease with little to no landlord responsibilities upon closing. The lease will include 2% annual escalations, generating a stable and growing income stream. This building sits near the highly trafficked corner of Ashland Ave & Fullerton Ave on the West side of Lincoln Park seeing +27k vehicles daily. It is also located just 0.5 miles from the DePaul University campus and 0.75 miles from I-90. The property is zoned B3-2, which allows for commercial uses on the first floor and residential uses above, giving the property flexibility for any future potential uses. This offering represents a secure, long-term, passive investment in a highly desirable area of Chicago.
Features
- Property Type: Commercial
- Sub Type: Mixed Use
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60614
- Year Built: 1889
- Sq.Ft.: 2,576 sq ft
- Stories: 2
- Units: 1 unit
- Zoning: COMMR
- # Of Offices: 1
- # Of Tenants: 1
- Approximate Age: Older
- Building Area Total: 2576
- Built Before 1978 (Y/N): Yes
- Cap Rate: 7.5
- Cooling: Central Air
- Directions: On Ashland Ave North of Fullerton Ave
- Electric: Circuit Breakers
- Flooring: Carpet
- Geographic Locale: Chicago North
- Gross Income: 79856
- Gross Rent Multiplier: 13.3
- Gross Scheduled Income: 79856
- Heat/Ventilation: Forced Air, Gas
- Information: List Broker Must Accompany
- Location: Central Business District, Corner, High Traffic Area
- Lot Size Square Feet: 2034
- Main Type: Commercial Sale
- Misc Inside: Elevator/s Passenger, Private Restroom/s, Basement
- Office SqFt: 2576
- Original Rental Price: 31
- Outdoor Parking: 6-12 Spaces, Open
- Property Sub Type: Mixed Use
- Rental Price: 31
- Tax Annual Amount: 22358
- Tax Year: 2023
- Tenant Pays: Common Area Maintenance, Taxes, Insurance
- Total Actual Rent: 6654
- Total Monthly Income: 6655
- Township: Lake View
- Virtual Tour Date: 2025-11-07T21:35:04
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