MLS Number 10681354
- CommercialSale Commercial Sale
- Area North Center
- Year Built 2003
- Zoning COMMR
- Parking Spaces 13
7 retail storefronts (3 commercial condos, 9,896 SF total) + 13-car commercial garage on ground floor of newer 5-story 39-unit mixed-use bldg at main intersection of Lincoln, Damen & Irving Park Rd in North Center. This is the most visible, highest quality construction, best positioned commercial space in this market with a strong mix of mostly long-term national and strong local tenants including Starbucks, Bank of America, Subway, Club Pilates, Ruby Nails, and 2 adjacent vacant spaces (one is a fully-fixtured former Hair Cuttery). There is a CMBS loan with an outstanding balance of ~$2.43 Million at 4.77% with 5+ years remaining on the term that must be assumed, so this could be purchased with 20% down generating a 9% CAP rate and a 15%+ ROI on cash over the next 4 yrs. This property is located at the main 6-corner intersection of Lincoln, Damen and Irving Park in North Center. It has outstanding access to all major transportation modes including CTA bus lines on all 3 intersecting streets, 2 blocks to the Irving Park Brown line subway station away, 1 mile to the Ravenswood Metra station and 2 miles to either Lake Shore Drive or the Kennedy Expressway. Nearby businesses include CVS, Wintrust Bank, MB Financial Bank, AT&T, T-mobile, Swedish Covenant Immediate Care, Chicago Title, and numerous neighborhood businesses.
Listed by Scott Fithian of The Lord Companies L.L.C.