Sold
655 W Irving Park Road
CHICAGO IL, 60613
$4,128,000
Sold
Commercial
Built in 1970
Courtesy of Sperry Van Ness
Multi-tenant retail/office commercial property investment offering for sale in the luxury residential condo building Park Place Towers, located in the heart of Chicago's pre-eminent Lakeview neighborhood. This approx. 14,865 SF property is comprised of approx. 6,150 SF of ground floor retail space, and approx. 8,715 SF of second floor office space. Projected 2017 annual NOI is $275,058. The retail portion of the property is comprised of 5 long-term tenants with a mix of gross and triple net leases in place. The office condo is 8,437 SF with 6 tenants with a mix of gross and triple net leases. The tenant roster is comprised of service retail (grocery store, dry cleaner, fitness, etc) a variety of professional & medical office spaces and is anchored by one of the largest residential developers and apt owners in the US. All leases include annual escalations. This investment is being offered at a CAP rate of approx. 6.1%. Parking is also available for purchase.
09396218
MLSⓇ ID
November 28, 2016
Listed
February 14, 2024
Updated
Map
655 W Irving Park Road
CHICAGO IL, 60613
Interior Features
Total Stories
56
Fireplace
No
Cooling
Yes
Cooling Description
Central Individual
Heating
No
Exterior/Building Features
Other Property Details
Area Name
CHI - Lake View
Taxes
$76,370
Tax Frequency
Annually
Days on Market
101
Garage
No
View
No
County
Cook
Municipality
LAKE VIEW
Pool
No
Zoning
COMMR
Courtesy of Sperry Van Ness, ,
Listing Contact: 312-676-1866
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Data last updated 5:43 AM UTC, 2/14/2024
