Miscellaneous
Compass Real Estate Office
55 E Erie St, Chicago, IL 60611
Listing Price: $3,000,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer the opportunity to acquire the fee simple interest in a Compass Real Estate Agency office, located at 55 East Erie Street, Suite C-1, Chicago, IL 60611 (the “Property”).
The Compass has signed a brand new 7-year lease in 2024, with the primary term now running through May 2031. The lease includes 3% annual rental increases during the primary term and two (2) five-year renewal options.
The Property features 3,979 square feet of rentable building area on approximately 0.61 acres of land along East Erie Street (± 20,000 vehicles per day). The location benefits from excellent demographics, with nearly 1.2 million residents within a 5-mile radius and an average household income ranging between $100,000 and $150,000. It is also near two major educational institutions, Loyola University Chicago and the School of the Art Institute of Chicago.
Compass Real Estate Office
Investment Highlights
- Proximity to Landmarks: Just a short walk to the Magnificent Mile, Museum of Contemporary Art, the Chicago Water Tower, and the John Hancock Center.
- Public Transportation: Close to the Grand (Red Line) and Chicago (Red Line) subway stations. Numerous bus routes serve the area, providing convenient access to different parts of the city.
- Schools and Education: Nearby educational institutions include Loyola University Chicago and the School of the Art Institute of Chicago.
- Healthcare: Close to Northwestern Memorial Hospital, and Lurie Children's Hospital
- Economic and Demographic Data: The Near North Side is one of Chicago's wealthiest neighborhoods, with high average household incomes and property values. The area is known for its diverse and affluent population, including professionals, families, and retirees. Property values in the Near North Side have shown consistent growth, reflecting strong demand for luxury living in a prime location
- Nearby Attractions and Lifestyle: The area boasts a wide selection of dining options, from high-end restaurants to trendy bars and cafes. River North is particularly known for its vibrant nightlife. Residents have easy access to high-end retail stores along Michigan Avenue and Oak Street. Proximity to Lake Michigan offers opportunities for outdoor activities such as jogging, cycling, and enjoying the lakefront parks.
- Transportation and Accessibility: The location is easily accessible by car, public transportation, and walking. The building offers parking facilities, and there are additional parking garages in the vicinity for visitors.
- Estimated Traffic Volume: Erie Street is a busy urban street, especially given its proximity to major commercial and residential areas. Streets in this part of Chicago often see moderate to heavy traffic, especially during peak hours. The vehicle count might range from 5,000 to 20,000 vehicles per day.
Exclusively Listed By
Listing Price: $3,000,000
Investment Highlights
- Proximity to Landmarks: Just a short walk to the Magnificent Mile, Museum of Contemporary Art, the Chicago Water Tower, and the John Hancock Center.
- Public Transportation: Close to the Grand (Red Line) and Chicago (Red Line) subway stations. Numerous bus routes serve the area, providing convenient access to different parts of the city.
- Schools and Education: Nearby educational institutions include Loyola University Chicago and the School of the Art Institute of Chicago.
- Healthcare: Close to Northwestern Memorial Hospital, and Lurie Children's Hospital
- Economic and Demographic Data: The Near North Side is one of Chicago's wealthiest neighborhoods, with high average household incomes and property values. The area is known for its diverse and affluent population, including professionals, families, and retirees. Property values in the Near North Side have shown consistent growth, reflecting strong demand for luxury living in a prime location
- Nearby Attractions and Lifestyle: The area boasts a wide selection of dining options, from high-end restaurants to trendy bars and cafes. River North is particularly known for its vibrant nightlife. Residents have easy access to high-end retail stores along Michigan Avenue and Oak Street. Proximity to Lake Michigan offers opportunities for outdoor activities such as jogging, cycling, and enjoying the lakefront parks.
- Transportation and Accessibility: The location is easily accessible by car, public transportation, and walking. The building offers parking facilities, and there are additional parking garages in the vicinity for visitors.
- Estimated Traffic Volume: Erie Street is a busy urban street, especially given its proximity to major commercial and residential areas. Streets in this part of Chicago often see moderate to heavy traffic, especially during peak hours. The vehicle count might range from 5,000 to 20,000 vehicles per day.
Investment Overview
Marcus & Millichap is pleased to exclusively offer the opportunity to acquire the fee simple interest in a Compass Real Estate Agency office, located at 55 East Erie Street, Suite C-1, Chicago, IL 60611 (the “Property”). The Compass has signed a brand new 7-year lease in 2024, with the primary term now running through May 2031. The lease includes 3% annual rental increases during the primary term and two (2) five-year renewal options. The Property features 3,979 square feet of rentable building area on approximately 0.61 acres of land along East Erie Street (± 20,000 vehicles per day). The location benefits from excellent demographics, with nearly 1.2 million residents within a 5-mile radius and an average household income ranging between $100,000 and $150,000. It is also near two major educational institutions, Loyola University Chicago and the School of the Art Institute of Chicago.
Exclusively Listed By
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