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Listed by Thomas Wagnerof Compass
$1,065,000
Est. payment /mo
2,576 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 2,576 sqft
Price per Sqft $413
MLS Listing ID 12513665
Year Built 1889
Annual Tax Amount $22,358
Tax Year 2023
Lot Dimensions 25 x 83
Property Sub-Type Mixed Use
Property Description
Presenting a single-tenant NNN investment opportunity in the West Lincoln Park neighborhood of Chicago. The property is 100% occupied by Mpower Energy, a well-established independent retail supplier of electricity and natural gas. They have occupied the entire building since 2019. Mpower Energy will execute a new 5-year NNN lease with little to no landlord responsibilities upon closing. The lease will include 2% annual escalations, generating a stable and growing income stream. This building sits near the highly trafficked corner of Ashland Ave & Fullerton Ave on the West side of Lincoln Park seeing +27k vehicles daily. It is also located just 0.5 miles from the DePaul University campus and 0.75 miles from I-90. The property is zoned B3-2, which allows for commercial uses on the first floor and residential uses above, giving the property flexibility for any future potential uses. This offering represents a secure, long-term, passive investment in a highly desirable area of Chicago.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Flooring Carpet
Fireplace N
Exterior
View Y/N true
Others
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Joanna Lewkowicz
Designated Managing Broker | Owner | 471.018027 471018027
+1(708) 226-4848 | joanna@boutiquehomerealty.com