111 N Wabash Avenue 810-2102-2103-1114-1116 , Chicago, IL 60602
Chicago, IL 60602
Description
Don't miss this portfolio investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 5 units that are diversified under 4 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 7.3 cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are all well established medical businesses with significant lease term remaining. One significant tenant is a credit tenant with a lease in place until 2034 and 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. Call for a copy of the rent roll. See MLS #11955091 for Units 1114-1116 or MLS #11955198 for Units 810, 2102 and 2103.
Details
| MLS# | 11954596 |
|---|---|
| Listing Type | For Sale |
| Style | Office Building |
| Suite Number | 810 |
| Sub-Type | Resale |
| Status | Active |
| Year | 1922 |
| Days On Site | 377 |
| Listing Provided By | Coldwell Banker Real Estate Group | Charles Kirkwood |
Features
| SQ Feet | 259,000 |
|---|---|
| Story(s) | 22 |
| Units | 5 |
Market Activity 60602
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60602 |
| Area | CHI Loop |
| Listing VS Median (in 60602) | |
Price: $3,410,000 low | high Med: $269,500 SqFt: 259,000 low | high Med: 129,878 $ / SqFt: $13 low | high Med: $160 On Site: 377 low | high Med: 40.500000 | |