222 E 61st St Retail Property

Description:

The Midwest Investment Advisors with KW Commercial and Keller Williams ONEChicago are pleased to present the retail property at 222 E. 61st St.. This asset represents a compelling investment opportunity in a vibrant community. Discover this exceptional commercial property located in a coveted B3-2 zoning district, currently operating as a Day Care Center and After-SCHOOL facility. This property offers a blend of modern amenities and strategic location, making it a highly attractive investment opportunity.

 

Key Features



Zoning: B3-2


Current Use: Day Care Center and After-SCHOOL Facility


Tenant Lease: The day care tenant signed a 3-year lease in March of 2023 at $10,000 annually.


Facilities: Newly remodeled day care center on the first floor and a second floor utilized for after-school programs.


Accessibility: Conveniently located near the Green Line and Dan Ryan Expressway, providing excellent transportation options.


Nearby Developments: Proximity to the future Obama Presidential Library, adding to the potential growth and value appreciation.


Maintenance: The property is meticulously maintained, ensuring a hassle-free investment experience.


Neighborhood: Situated in a revitalizing neighborhood, enhancing the long-term investment prospects.



Investment Potential

This commercial property presents a compelling investment opportunity with multiple attractive features:



Stable Income: The day care tenant's 3-year lease guarantees a steady annual income of $10,000.


Strategic Location: The property's proximity to major transportation routes and the future Obama Presidential Library enhances its desirability and potential for appreciation.


Modern Facilities: Recent renovations and dedicated spaces for day care and after-school programs increase the property's usability and attractiveness to tenants.


Revitalizing Neighborhood: Located in an area undergoing revitalization, the property is positioned for long-term growth and increased value.



Financial Highlights



Annual Lease Income: $10,000


Lease Term: 3 years (started March 2023)


Purchase Price: $800,000


Seller Financing: Available with a minimum 30% down payment of the purchase price at a 7.00% interest rate.


Zoning District: B3-2



Seller Financing Details



Minimum Down Payment: 30% of the Purchase Price


Interest Rate: 7.00%


Amortization: 360 Months


Interest Only Period: 2 Years


Balloon Due In: 5 Years



This commercial property, sold as-is, offers a unique blend of modern amenities, stable income, and strategic location. With the added benefit of being situated near significant future developments, it stands as a promising investment opportunity in a revitalizing neighborhood. The availability of seller financing with a competitive interest rate further enhances its appeal. Don't miss out on this chance to invest in a property with substantial growth potential and immediate income generation.




Seller Financing Details



Minimum Down Payment: 30% of the Purchase Price


Interest Rate: 7.00%


Amortization: 360 Months


Interest Only Period: 2 Years


Balloon Due In: 5 Years



Financial Highlights



Annual Lease Income: $10,000


Lease Term: 3 years (started March 2023)


Purchase Price: $800,000


Seller Financing: Available with a minimum 30% down payment of the purchase price at a 7.00% interest rate.


Zoning District: B3-2