Overview

Description

Prime three unit commercial corner property successfully run as a neighborhood street level retail center with longtime laundromat, nail salon and beauty supply tenants. Two tenants just executed three-year leases with 4% annual escalation while the third just signed a five-year lease with 3% annual escalations. Tenants pay for all utilities. This 100% occupied 4,800 SF freestanding three-unit building has 148 ft 71st Street frontage. Located in the Park Manor area of the Greater Grand Crossing community 9 miles south of the Loop. Easy access to the Edens Expressway and The Skyway. Nearby intersection has 25,000+ VPD. Zoned B3-1 – Community Shopping District. Located in the 67th/Wentworth TIF District. The district is intended to foster new residential, commercial, and mixed-use development investment opportunities. Other grant options are possible, such as the Neighborhood Opportunity Fund and the R3 Grant.

This 100% occupied 4,800 SF freestanding single story building has three retail units and 148 ft 71st Street frontage. Located in the Park Manor area of the Greater Grand Crossing community 9 miles south of the Loop. Greater Grand Crossing is a middle-market neighborhood in Chicago. Its solid housing stock, easy access to transportation and strong community assets offers sustained value to its residents. Easy access to the Edens Expressway and The Skyway. Nearby intersection has 25,000+ VPD. Zoned B3-1 – Community Shopping District with a FAR of 1.2. Located in the 67th/Wentworth TIF District. The district is intended to foster new residential, commercial, and mixed-use development investment opportunities.
Exceptional transportation options, including easy access to CTA, Metra, I-94 and the Skyway
+ Strong presence of local businesses and medical facilities with employment opportunities
+ City investments in Park District programming and new public library
+ Close to the South Shore Cultural Center, University of Chicago and the future site of the Barack Obama Presidential Center


Three unit stabilized commercial retail property with three long-time tenants. Two leases expire in three years with 4% annual escalations and the third lease expires in 5 years with 3% annual escalations.

Highlights

• Three Unit Single Story Stand-Alone Retail Building on City designated Commercial Corridor
• 100% Occupied
• 11.5% Cap Rate

Documents

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