111 North Wabash Avenue, Unit 810-2102-2103Chicago, IL 60602Price: $1,190,000

  • Price: $1,190,000
  • 101 Days on Market
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Federal 30-year interest rate: 6.88% last updated on Apr 11, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 259,000Square Feet
  • 1922Year Built

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Don't miss this 100% leased investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 3 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 6.72% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established dentistry professionals with significant lease term remaining. One of the tenants has a lease in place until 2033 and the other is in place until 2028. Both leases feature options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. See MLS #11955091 for Units 1114-1116 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined.

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Listed by Charles Kirkwood of Coldwell Banker Real Estate Group

Based on information submitted to MRED  as of April 18, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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