9.8% In Place Cap Rate | 3600-3602 W 26th St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
9.8% In Place Cap Rate 3600-3602 W 26th St
10,541 SF 100% Leased Retail Building Chicago, IL 60623 £1,719,130 (£163/SF) 9.80% Net Initial Yield
Investment Highlights
- Stoplight Intersection in the Heart of Little Village.
- Long-Term / Stable Commercial Tenants on Ground Floor: Cash America (Since 2006) and Boost Mobile (Since 2010).
- Well-Maintained and Operated Asset
- Second Highest Grossing Retail Corridor in Chicago Next to Michigan Ave.
- Value-Add Potential in Multifamily Component.
Executive Summary
Interra Realty has been exclusively engaged to market 3600-02 W. 26th Street / 2552 S. Central Park Ave , Chicago, for sale. The subject investment property is a mixed-use asset with street-level retail and six apartments in the heart of Little Village. 26th Street has been reported to be the second highest grossing retail corridor in Chicago, behind only Michigan Avenue.
There are two long-term tenants on the first floor; Cash America and Boost Mobile. Cash America is a corporate lease, which was just extended to 2029. Boost Mobile is a franchisee, who has been at the property for over 10 years.
The second and third floor feature six apartments which have a range of finishes and present significant value-add potential. The apartments are fully occupied and have individual furnaces with tenant-paid heat.
The property has been well maintained and operated by ownership. It presents stability in the commercial tenants and value-add potential in the multifamily component. The property is being offered for sale free-and-clear of existing financing.
There are two long-term tenants on the first floor; Cash America and Boost Mobile. Cash America is a corporate lease, which was just extended to 2029. Boost Mobile is a franchisee, who has been at the property for over 10 years.
The second and third floor feature six apartments which have a range of finishes and present significant value-add potential. The apartments are fully occupied and have individual furnaces with tenant-paid heat.
The property has been well maintained and operated by ownership. It presents stability in the commercial tenants and value-add potential in the multifamily component. The property is being offered for sale free-and-clear of existing financing.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
10,541 SF
Building Class
C
Year Built
1912
Price
£1,719,130
Price Per SF
£163
Net Initial Yield
9.80%
NOI
£168,475
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Building FAR
1.97
Land Acres
0.12 AC
Zoning
B3-2, Chicago
Walk Score ®
Very Walkable (88)
Bike Score ®
Very Bikeable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 16-26-125-023-0000 | Improvements Assessment | £108,527 |
| Land Assessment | £5,453 | Total Assessment | £113,981 |
PROPERTY TAXES
Parcel Number
16-26-125-023-0000
Land Assessment
£5,453
Improvements Assessment
£108,527
Total Assessment
£113,981
-
Jeremy Morton -
Joe Smazal -
Interra Realty
(312) 724-7010
x424
1 of 15
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
9.8% In Place Cap Rate | 3600-3602 W 26th St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.