$4.59 Per Sq Foot $6,388 est/mo Sourced by Back At You

111 N Wabash Avenue 810-2102-2103,Chicago, IL 60602

Chicago IL, 60602

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Description

Don't miss this 100% leased investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 3 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 6.72% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established dentistry professionals with significant lease term remaining. One of the tenants has a lease in place until 2033 and the other is in place until 2028. Both leases feature options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. See MLS #11955091 for Units 1114-1116 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined.

Details

MLS#11955198
Listing TypeFor Sale
StyleOffice Building
Suite Number810
Sub-TypeResale
StatusActive
Year1922
Days On Site135
Listing Provided ByColdwell Banker Real Estate Group | Charles Kirkwood

Features

SQ Feet259,000
Story(s)22
Units3

Market Activity 60602

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Listings Checked: 5 minutes ago
StateIL
CountyCook
CityChicago
Zip Code60602
AreaCHI Loop
Listing VS Median (in 60602)
Price:
$1,190,000
low | high
Med:
$749,000
87.058823529412% of Average
SqFt:
259,000
low | high
Med:
1,544
100% of Average
$ / SqFt:
$5
low | high
Med:
$485
100% of Average
On Site:
135
low | high
Med:
36.000000
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 7:02:45 PM PDT