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$ 825,000
Est. payment | /mo
10,100 SqFt
$ 825,000
Est. payment | /mo
10,100 SqFt
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Pending
Purchase Type For Sale
Square Footage 10,100 sqft
Price per Sqft $81
MLS Listing ID 12681896
Year Built 1912
Annual Tax Amount $41,083
Tax Year 2025
Lot Dimensions 0.43
Property Sub-Type Retail/Stores
Property Description
This 6 unit retail strip center is located in the thriving Norwood Park neighborhood in Chicago, Illinois. The Property is currently operating at a strong occupancy with annual income consistently coming above $125,000 the past 3 years. There is a clear identifiable path to stabilization through a full lease-up, potential conversion to NNN leases, and mark-to-market rent growth. The investment profile is best characterized as a value-add retail opportunity, targeting investors seeking meaningful NOI growth & high-teen leveraged return potential with a few strategic moves. Based on current operations and forward-looking underwriting, the Property offers a compelling repositioning opportunity, though near-term execution risk and leasing assumptions remain critical to achieving projected returns. The property is located in walking distance from downtown Norwood Park and the respective blue line stop and minutes away from I-90 and O'hare Airport.
Location
State IL
County Cook
Area Chi - Norwood Park
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Retail/Stores
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Listed by Andrew Page of Ellsbury Group LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "