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5439 N Broadway Street, Chicago, IL

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5439 N Broadway Street

Chicago, IL 60640 - Northwest City Submarket

Property Type:Retail Sub Type:Storefront Retail/Residential Status:Existing Year Built:2004
Building Size:4,680 SF Land Area:.04 AC (1,559 SF)
For Sale Price:$839,000 Price/SF:$179.27
Cap Rate:7.44 %
1,600 SF is available to occupy upon purchase.

Mixed Use Building, 3 stories, retail on 1st floor. Second and third floor each have a 3/bdrm - 2 bth apartment. Individual gas forced Heat/AC, in-unit W/D, all new electric and plumbing. Fully rehabbed.

Sale Notes:
Recently renovated All units individually metered Steps away from the CTA's Berwyn and Bryn Mawr Red Line station One block away from major retailers such as Jewel, Chipotle and Pet Smart High walkability score Immediately adjacent to a brand new, 42 unit luxury mixed-use development Just a few blocks east of the Andersonville retail corridor Strong demographics - nearly 75,000 residents within one mile
Recently renovated, value add Edgewater three story mixed-use building, containing ground floor commercial and two-three bedroom, two bath residential units. The three units are individually metered, with in unit HVAC systems. The two residential units have their own washer and dryers. The residential units are currently leased at well below market rent; the ground floor retail space is vacant.
The property is zoned B3-3. The primary purpose of the B3, community shopping district is to accommodate a very broad range of retail and service uses, often in the physical form of shopping centers or larger buildings than found in the B1 and B2 districts. In addition to accommodating development with a different physical form than found in B1 and B2 districts, the B3 district is also intended to accommodate some types of uses that are not allowed in B1 and B2 districts, including full service restaurants with liquor service.
The property is located in the heart of Chicago's burgeoning Edgewater neighborhood and is less than a quarter mile to either the CTA's Berwyn or Bryn Mawr Red Line stations and right on the Broadway 36 bus line. Lake Shore Drive via Foster or Bryn Mawr is directly north and south of the site.
High Traffic Counts. Approximately 70,000 cars enter the community at Foster Avenue via Lake Shore Drive. Broadway and Clark, the primary commercial streets, carry, respectively, 29,000 and 17,000 vehicles daily. These are levels of traffic characteristic of major shopping centers.
The property has the added advantage of being immediately adjacent to Edgewater's newest luxury apartment building containing 42 two-and-three bedroom apartments and nearly 9,000 square feet of ground floor retail.

SVN l Chicago Commercial
Tim Rasmussen
(312) 676-1875

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