5101 S Michigan Avenue , Chicago, IL 60615
Chicago, IL 60615
Description
Washington Park-7 Stores (4 Restaurants, 3 stores) High quality Washington Park Retail Center with 4 restaurants & 3 stores. Two blocks from the 51st Street CTA Green Line Station at the intersection of 51st & S Michigan. Excellent visibility corner lot with popular restaurants and good traffic. 9 parking spaces with room for more. 16,257 square foot lot zoned B3-3, approximately 7,833 square foot building, built in 2005. Annual PGI of $182,507 & value-add potential. $2.3 Billion Annual Consumer Spending Ideal post-covid restaurant layouts, primarily take-out with limited dine-in & large kitchens with hoods. Single story building, amply plumbed for additional light food service &/or easily install hoods. 3-mile radius population of 281,310. Average household income of $60,288 & annual consumer spending of $2.3 Billion. Average retail rent is $20.64NNN with a vacancy rate of 4.9%.
Details
| MLS# | 12011642 |
|---|---|
| Listing Type | For Sale |
| Style | Retail |
| Sub-Type | Resale |
| Status | Active |
| Year | 2005 |
| Days On Site | 297 |
| Listing Provided By | Twins Realty LLC | Robert Klairmont |
Features
| SQ Feet | 7,833 |
|---|---|
| Story(s) | 1 |
| Units | 7 |
Market Activity 60615
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60615 |
| Area | CHI Washington Park |
| Listing VS Median (in 60615) | |
Price: $1,200,000 low | high Med: $169,000 SqFt: 7,833 low | high Med: 1,800 $ / SqFt: $153 low | high Med: $94 On Site: 297 low | high Med: 201.000000 | |