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$ 1,850,000
Est. payment | /mo
47,000 SqFt
$ 1,850,000
Est. payment | /mo
47,000 SqFt
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 47,000 sqft
Price per Sqft $39
MLS Listing ID 12553256
Year Built 2004
Annual Tax Amount $34,162
Tax Year 2024
Lot Dimensions 110x125
Property Sub-Type Retail/Stores
Property 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
Location
State IL
County Cook
Area Chi - Lake View
Zoning COMMR
Interior
Cooling Central Air, Central Individual, Exhaust Fan
Fireplace N
Building
Dwelling Type Retail/Stores
Structure Type Concrete,Steel Siding,Brick,Stone
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Marvin Grahn of Marvin G. Grahn
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