4640 S Pulaski Rd - Freestanding FOR SALE


Chicago, IL 60632- Archer Heights
$3,421,000 USD
312-675-4334
4640 S Pulaski Rd, Chicago, IL for Sale
$3,421,000 USD
Freestanding - FOR SALE
1/9
null | Request Cap Rate

4640 S Pulaski Rd
Chicago, IL 60632
Archer Heights


OVERVIEW

SVN Chicago is pleased to present Gillespie Plaza, a net leased shopping center located at 4620 - 4654 S. Pulaski Road in Chicago, IL. The retail shopping center investment consists of two freestanding buildings anchored by Lowe's Outlet (Lowe's Home Improvement) along with an outlot building leased to T-Mobile. The center has a rare dedicated parking lot with more than ample parking for both tenants onsite. Both Lowe's Outlet and T-Mobile are in very landlord-friendly NNN leases with strong term remaining. Lowe's Outlet (guaranteed by Lowe's Home Improvement) is an appliance focused location of the Lowe's overall brand and an ideal tenant for urban rooftops in the immediate area. Lowe's Outlet's lease commenced in September of 2020 and they just exercised their first five-year option at 10% rent increase which puts them in place until September of 2030 with one remaining five-year option with an additional 10% rent increase. T-Mobile is the second tenant in the shopping center and has operated as a cell phone store at the site since 2007. The current lease guaranteed by T-Mobile corporate and commenced in January of 2019. They are currently in the beginning of their first five-year option. Gillespie Plaza offers investors a core urban asset with excellent credit tenants and presents passive opportunity for any investor.

FOR SALE DETAILS

PRICE

$3,421,000 USD

PRICE/SF

$168 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,406 SF

ZONING

C

APN/PARCEL ID

19-03-420-048-0000

ASK ABOUT THIS PROPERTY

Jose ColonSVN | Chicago CommercialMore Info
312-675-4334

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Jose ColonSVN | Chicago CommercialMore Info
312-675-4334

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