3244-3260 W 55th St - Storefront FOR SALE


Chicago, IL 60632- Gage Park
$1,423,962 USD
630-570-2238
3244-3260 W 55th St, Chicago, IL for Sale
$1,423,962 USD
Storefront - FOR SALE
1/9
null | 9% Cap Rate

3244-3260 W 55th St
Chicago, IL 60632
Gage Park


HIGHLIGHTS

  • Value-Add Opportunity | 3,000 Square Feet of Vacant End-Cap Available to Lease | Seller Invested Significant Capital into the Space
  • La Michocana and Elite Staffing have been Operating at this Location since 2014
  • Four of the Five Tenants have Annual Rental Increases
  • New Leasing Momentum | Henry Rosa and Reyna’s Salon Unisex Signed Leases in 2024
  • 1.8 Miles from Chicago Midway International Airport, which saw 15.8 Million Visitors in the Past 12 Months (Placer.ai)
  • Abundance of Schools within a One-Mile Radius | Dense Industrial Corridor Located North of the Subject Property

OVERVIEW

This net leased six-tenant retail center offers a long operating history, with La Michocana and Elite Staffing in place since 2014. The property features built-in rental escalations, as four tenants benefit from annual rent increases, and has demonstrated strong leasing momentum with three new leases executed since 2023. Additionally, the asset presents a value-add opportunity with approximately 3,000 square feet of vacant space available for lease. The asset is located 1.8 miles from Chicago Midway International Airport and 1.1 miles from the Kedzie Orange Line CTA station, providing excellent regional connectivity and commuter traffic. The property is supported by a dense trade area of 54,474 residents within one mile and 179,327 residents within two miles, along with 127,397 employees within a two-mile radius. An abundance of nearby schools, a dense industrial corridor, and surrounding national retailers further support consistent customer traffic and long-term stability.

FOR SALE DETAILS

PRICE

$1,423,962 USD

PRICE/SF

$148 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value-Add Six Tenant Strip Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

CROSS STREETS

S Spaulding Ave

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

B3-1

APN/PARCEL ID

19-11-423-041-0000

ASK ABOUT THIS PROPERTY

Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2238

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Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2238

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