222 E 61st St
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222 E 61st St
18,000 SF Retail Building Chicago, IL 60637 £627,528 (£35/SF) 9.14% Net Initial Yield
Investment Highlights
- Seller Financing Available
Executive Summary
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 monthly.
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.
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 monthly.
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.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Day Care Centre
Building Size
18,000 SF
Building Class
C
Year Built/Renovated
1925/2023
Price
£627,528
Price Per SF
£35
Net Initial Yield
9.14%
NOI
£57,354
Tenancy
Single
Number of Floors
3
Building FAR
1.48
Land Acres
0.28 AC
Opportunity Zone
Yes
Zoning
B3-2 - accommodate commercial retail and mixed-use apartments above storefronts.
Parking
8 Spaces (0.44 Spaces per 1,000 SF Leased)
Frontage
139 ft on East 61st Street
Amenities
- Bus Route
- Fenced Lot
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Transit Score ®
Excellent Transit (74)
PROPERTY TAXES
| Parcel Number | 20-15-309-033-0000 | Improvements Assessment | £139,327 |
| Land Assessment | £22,065 | Total Assessment | £161,392 |
PROPERTY TAXES
Parcel Number
20-15-309-033-0000
Land Assessment
£22,065
Improvements Assessment
£139,327
Total Assessment
£161,392
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Tony Hardy -
Travis Montgomery -
Tracii Randoph -
Kelly Rich -
Ariana Abercrumbie -
Midwest Investment Advisors
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