47,000 sq ft
Commercial: Retail/Stores - MLS# 12553256
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Description
TURNKEY Investment Opportunity! FULLY LEASED with two, high quality, long-term tenants. NNN leases with 9- and 4-year remaining terms make this an armchair investment for many years to come. NOI $112,785 and a CAP RATE of 6.1 in 2026 and both leases have yearly escalations. Combined, they total 3,004 square feet of 13' tall retail space with high quality buildouts. Also included is 1 indoor parking space. Both stores have outdoor seating areas in the summer months. This premium space is on the ground floor of a 25-unit high-end condo building built in 2004. It has its own tax PIN and IS NOT PART OF THE CONDO ASSOCIATION. Prominent corner location with 137' frontage at the high traffic stop-sign corner of Halsted and Cornelia, one block south of Addison, in the East Lakeview neighborhood. 1-mile population radius 92K, 3-mile 410K. Average Household Income is $148K, daily traffic 13K, Walk Score 96, Transit Score 86. The new 71,000 SF Howard Brown Health Center is across the street and Wrigley Field, Whole Foods, and Target are all within three blocks of the property. Halsted #8 bus stop is on the corner, and the CTA Red line stop is 2.5 blocks away. PLEASE DO NOT DISTURB TENANTS
Features
- Property Type: Commercial
- Sub Type: Retail/Stores
- Listing Status: Active
- County/Area: Cook County
- Zip Code: 60657
- Year Built: 2004
- Sq.Ft.: 47,000 sq ft
- Stories: 5
- Units: 2 units
- Zoning: COMMR
- # Of Drive In Doors: 1
- # Of Tenants: 2
- Building Area Total: 47000
- Cap Rate: 6.1
- Ceiling Height (Ft): 13
- Construction Materials: Concrete, Steel Siding, Brick, Stone
- Cooling: Central Air, Central Individual, Exhaust Fan
- Directions: Halsted to Cornelia (3500 N), Northwest Corner
- Electric: Circuit Breakers, Service - 201 to 600 Amps
- Fire Protection: Alarm On Site, Fire Extinguisher/s, Smoke or Fire Protectors
- Gross Rentable Area: 3004
- Gross Scheduled Income: 112785
- Heat/Ventilation: Central Heat/Indiv Controls, Electric, Forced Air
- Indoor Parking: 1-5 Spaces, Assigned Spaces, Heated, Secured
- Information: Show-Call Owner, No Sign on Property
- Investment (Y/N): Yes
- Known Encumbrances: None Known
- Leasable Area: 3004
- Leasable Area Units: Square Feet
- Location: Corner, Public Transport Avail, Free Standing/Urban, Special Taxing District, High Traffic Area
- Lot Size Source: Survey
- Lot Size Square Feet: 13750
- Main Type: Commercial Sale
- Min Avail Sq Ft (Rentable): 3004
- Misc Inside: Accessible Washroom/s, Multi-Tenant
- Property Offered: For Sale Only
- Property Sub Type: Neighborhood Storefront
- Tax Annual Amount: 34162
- Tax Year: 2024
- Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Taxes, Insurance, Repairs, Trash Collection
- Township: Lake View
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