111 N Wabash Ave - Medical CONDO FOR SALE


Chicago, IL 60602- Grant Park
$1,100,000-$3,410,000 USD
630-715-5714
111 N Wabash Ave, Chicago, IL for Sale
$1,100,000-$3,410,000 USD
Medical CONDO - FOR SALE
1/16
4,034-9,040 SF | 6.91% Cap Rate

111 N Wabash Ave
Chicago, IL 60602
Grant Park


HIGHLIGHTS

  • Investment Opportunity - 6.73% Cap at List Price
  • Extensive Lease Term Remaining
  • Solid Medical Tenants
  • Arm Chair Investment with Minimal Owner Involvement

OVERVIEW

Don't miss this investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 2 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 7.34% 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 medical businesses with significant lease term remaining. One of the tenants 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 for a fee. Call for a copy of the rent roll. See MLS #11955198 for Units 810, 2102, 2103 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined.

FOR SALE DETAILS

PRICE

$1,100,000-$3,410,000 USD

CAP RATE

6.91%

# OF UNITS

3

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Medical Office Investment

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

259,000 SF

STORIES

22

BUILDING CLASS

B

YEAR BUILT

1914

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,682 SF

ZONING

DX-16

APN/PARCEL ID

17-10-309-016-1024,17-10-309-016-1037

ASK ABOUT THIS PROPERTY

Charles KirkwoodColdwell BankerMore Info
630-715-5714

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Charles KirkwoodColdwell BankerMore Info
630-715-5714

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.