414 E 71st Street , Chicago, IL 60619
Chicago, IL 60619
Description
Incredible cash flowing strip center that is already producing a 12.5% Cap Rate. This is a 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 Eden's 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.
Details
| MLS# | 12002638 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 1915 |
| Days On Site | 310 |
| Listing Provided By | Be Realty, LLC | Mikus Kins |
Features
| SQ Feet | 4,800 |
|---|---|
| Story(s) | 1 |
| Units | 3 |
| Zoning | COMMR |
Market Activity 60619
Request a showing
Request a showing
Contact
Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60619 |
| Area | CHI Greater Grand Crossing |
| Listing VS Median (in 60619) | |
Price: $525,000 low | high Med: $175,000 SqFt: 4,800 low | high Med: 7,600 $ / SqFt: $109 low | high Med: $23 On Site: 310 low | high Med: 3.000000 | |