2435 N Ashland Ave - Office/Residential FOR SALE


Chicago, IL 60614- DePaul
$960,000 USD
847-638-2659
2435 N Ashland Ave, Chicago, IL for Sale
$960,000 USD
Office/Residential - FOR SALE
1/11
null | 8.32% Cap Rate

2435 N Ashland Ave
Chicago, IL 60614
DePaul


HIGHLIGHTS

  • Sale/Leaseback | 5-year Initial Term
  • NOI: $79,856 | $6,654/month
  • 2% Annual Escalations
  • NO Landlord Responsibilities

OVERVIEW

Presenting a single-tenant Absolute NNN investment opportunity in the West Lincoln Park neighborhood of Chicago. The property is 100% occupied by Mpower Energy, a well-established independent retail supplier of electricity and natural gas. They have occupied the entire building since 2019. Mpower Energy will execute a new 5-year Absolute NNN lease with no landlord responsibilities upon closing. The lease will include 2% annual escalations, generating a stable and growing income stream. This building sits near the highly trafficked corner of Ashland Ave & Fullerton Ave on the West side of Lincoln Park seeing +27k vehicles daily. It is also located just 0.5 miles from the DePaul University campus and 0.75 miles from I-90. The property is zoned B3-2, which allows for commercial uses on the first floor and residential uses above, giving the property flexibility should any future potential uses be needed. This offering represents a secure, long-term, passive investment in a highly desirable area of Chicago.

FOR SALE DETAILS

PRICE

$960,000 USD

PRICE/SF

$373 USD /SF

CAP RATE

8.32%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lincoln Park Medical Office Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront Retail/Office, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1889

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

B3-2

APN/PARCEL ID

14-29-317-011-0000

ASK ABOUT THIS PROPERTY

Tom WagnerCompassMore Info
847-638-2659

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Tom WagnerCompassMore Info
847-638-2659

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