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Urban-High Street

Assumable 3.889% Loan | Generational Downtown Retail Center

542 W Roosevelt Rd, Chicago, IL 60607

Listing Price: $10,495,000

Cap Rate
6.50%
Gross SF
26,350
Rentable SF
26,350
Price/Gross SF
$398.29
Lot Size
0.73 acres
Year Built
1964

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Generational Downtown Retail Center located on Roosevelt Road in the South Loop neighborhood of downtown Chicago. The 24,558-square-foot property is 100% occupied by six retail tenants, as well as a large Clear Channel Billboard. The property benefits from some of the best visibility in the South Loop. Positioned between the signalized intersections of Roosevelt & Jefferson and Roosevelt & Clinton, this property is less than 0.2 miles from the I-90 on and off ramp. The asset is surrounded by best in class retailers, major transportation arteries and ideal demographics — 350,000 people live within three miles; average household incomes exceed $130,000. Rents are below market and replaceable, and, given the scarcity of available land in the South Loop, the ability to control about three quarters of an acre should be highly appealing to investors seeking long-term returns and NOI growth.

Investment Highlights

  • Irreplaceable underlying real estate, located in Chicago's South Loop Retail Corridor, surrounded by best in class retailers (Chick-fil-A, Whole Foods, Chipotle, Nordstrom Rack, Best Buy)
  • Ability to assume seller's existing mortgage at an interest rate of 3.889%, fixed for an additional eight years — provides positive leverage at the asking price with a total return of nearly 8% in Yea
  • High degree of visibility to over 40,000 vehicles per day, positioned between two signalized intersections
  • Clear Channel "Bulletin" Billboard included in the sale | Significant value in the billboard that exceeds the capitalized value of their rental stream, should a new owner choose to separately parcel it
  • Parcel includes a surface parking lot behind the retail center, a rare amenity for an urban infill retail property
  • Ownership has put well over $1M in recent capital improvements into the property — including a new façade, a new roof, extensive plumbing improvements and electrical work

Exclusively Listed By

Urban-High Street

Assumable 3.889% Loan | Generational Downtown Retail Center

Listing Price: $10,495,000

Cap Rate
6.50%
Gross SF
26,350
Rentable SF
26,350
Price/Gross SF
$398.29
Lot Size
0.73 acres
Year Built
1964

Investment Highlights

  • Irreplaceable underlying real estate, located in Chicago's South Loop Retail Corridor, surrounded by best in class retailers (Chick-fil-A, Whole Foods, Chipotle, Nordstrom Rack, Best Buy)
  • Ability to assume seller's existing mortgage at an interest rate of 3.889%, fixed for an additional eight years — provides positive leverage at the asking price with a total return of nearly 8% in Yea
  • High degree of visibility to over 40,000 vehicles per day, positioned between two signalized intersections
  • Clear Channel "Bulletin" Billboard included in the sale | Significant value in the billboard that exceeds the capitalized value of their rental stream, should a new owner choose to separately parcel it
  • Parcel includes a surface parking lot behind the retail center, a rare amenity for an urban infill retail property
  • Ownership has put well over $1M in recent capital improvements into the property — including a new façade, a new roof, extensive plumbing improvements and electrical work

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Generational Downtown Retail Center located on Roosevelt Road in the South Loop neighborhood of downtown Chicago. The 24,558-square-foot property is 100% occupied by six retail tenants, as well as a large Clear Channel Billboard. The property benefits from some of the best visibility in the South Loop. Positioned between the signalized intersections of Roosevelt & Jefferson and Roosevelt & Clinton, this property is less than 0.2 miles from the I-90 on and off ramp. The asset is surrounded by best in class retailers, major transportation arteries and ideal demographics — 350,000 people live within three miles; average household incomes exceed $130,000. Rents are below market and replaceable, and, given the scarcity of available land in the South Loop, the ability to control about three quarters of an acre should be highly appealing to investors seeking long-term returns and NOI growth.

Exclusively Listed By

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