1828-1830 W Foster Ave - Storefront Retail/Residential CONDO FOR SALE


Chicago, IL 60640- Bowmanville
$795,000 USD
217-714-9980
1828-1830 W Foster Ave, Chicago, IL for Sale
$795,000 USD
Storefront Retail/Residential CONDO - FOR SALE
1/13
null | 7.53% Cap Rate

1828-1830 W Foster Ave
Chicago, IL 60640
Bowmanville


HIGHLIGHTS

  • Annual Rental Increases of 2% throughout the primary term.
  • Strong Financials and Experienced Operator - This is the Tenant's 9th dentist office location.
  • Urban Infill Location on Chicago's North Side
  • Medical Field is a recession proof business with a positive future
  • Passive Ownership Opportunity
  • Tenant pays all Operating Costs (dues and/or assessments) directly to the Condo Association

OVERVIEW

Prime NNN Investment Opportunity – Dental Practice in Chicago, IL This property features a 10.5-year lease expiring 10/31/2029 with 2% annual rent increases and two 5- year renewal options along with a personal guaranty from a well-established 9-location dental operator with strong financials. The tenant has demonstrated consistent 20% year-over-year revenue growth and is a strong candidate for future acquisition by private equity or a national dental chain. This NNN lease structure provides a low-maintenance investment, with the tenant covering all interior expenses while the condo association manages exterior maintenance, including capital items—costs that are fully reimbursed by the tenant through monthly assessments. In addition, tenant is also fully responsible for paying taxes directly, as well as insurance with landlord named as additional insured.

FOR SALE DETAILS

PRICE

$795,000 USD

PRICE/SF

$530 USD /SF

CAP RATE

7.53%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

16,000 SF

STORIES

4

BUILDING CLASS

B

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,290 SF

ZONING

B2-1

APN/PARCEL ID

14-07-227-016-1007

ASK ABOUT THIS PROPERTY

Kelley McDonaldStone Realty GroupMore Info
217-714-9980

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Kelley McDonaldStone Realty GroupMore Info
217-714-9980

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