6348 S Archer Ave - Freestanding FOR SALE


Chicago, IL 60638- Garfield Ridge
$2,975,000 USD
312-548-6822
6348 S Archer Ave, Chicago, IL for Sale
$2,975,000 USD
Freestanding - FOR SALE
1/10
null | 8.16% Cap Rate

6348 S Archer Ave
Chicago, IL 60638
Garfield Ridge


HIGHLIGHTS

  • ATTRACTIVE RENT INCREASES
  • STRONG TENANT
  • STRATEGIC RETAIL LOCATION
  • EXCELLENT VISIBILITY & ACCESS
  • HIGH TRAFFIC COUNTS
  • STRONG DEMOGRAPHICS

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the Garfield Ridge branch of the Chicago Public Library, a single tenant investment property located at 6348 S Archer Avenue in Chicago, Illinois (the “Property”). The Chicago Public Library has been at this location since 2005 and has recently extended its lease demonstrating commitment to the site and the location. The Chicago Public Library has 8+ years remaining on their 10-year extension. The lease includes attractive 3% annual rental increases. The Garfield Ridge branch of the Chicago Public Library occupies a highly visible corner location at the signalized intersection of S Mulligan Avenue, W 55th Street, and S Archer Avenue, the area’s primary commercial and commuter corridor. The Property benefits from strong traffic counts, excellent frontage, and convenient access in a well-established commercial trade area. Surrounded by a mix of national and local retailers, restaurants, and service providers, the site draws from consistent daily consumer traffic generated by the surrounding commercial density and mature residential base. The Property also offers exceptional regional connectivity, with quick access to S Cicero Avenue (IL Route 50), S Harlem Avenue and Interstate 55, providing direct linkage to Downtown Chicago and the broader Chicagoland MSA. The site is positioned along the CTA bus line and is convenient to several train stations (Amtrak, CTA Orange Line and BNSF Metra Line).

FOR SALE DETAILS

PRICE

$2,975,000 USD

PRICE/SF

$385 USD /SF

CAP RATE

8.16%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chicago Public Library

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

B3-1

APN/PARCEL ID

19-08-325-045-0000

ASK ABOUT THIS PROPERTY

Jack CollinsHorvath & TremblayMore Info
312-548-6822

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Jack CollinsHorvath & TremblayMore Info
312-548-6822

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