We are pleased to present an exceptional, cash-flowing investment (11% cap rate) or owner-user opportunity conveniently located in The Historic Garland Building in downtown Chicago. At 111 N. Wabash, five commercial condominium units (three occupied) have become available for purchase; two also for lease. Unit #s: 1420 & 1422 are contiguous and have leases in-place through 7/31/21 & 3/31/25 respectively. Unit #s: 2119, 2120 & 2122 are also contiguous and offer commanding views of Millennium Park and Lake Michigan. 2119 & 2120 are available for lease and 2122 is leased through 4/30/21. The Garland is CTA-Adjacent with direct access to all EL Lines & Multiple Bus Routes. Retail co-tenants are Staples Office Supplies and Subway Sandwich Shop. 111 N. Wabash is the perfect location for any small business and a commercial condominium is the best way to manage the occupancy costs for every business. The units are available individually or in-bulk. The price for all 5 is $680,000. Individually, the price are: Unit # 1420 is $105,000, #1422 is $130,000, #2119 is $125,000, #2120 is $150,000 and #2122 is $170,000.Units #2119 & 2120 are available for lease at $ 2,497 and $2,924 per month respectively.
|DAYS ON MARKET||Login to view Days on Market||LAST UPDATED||Login to view Last Updated|
|YEAR BUILT||Login to view Year Built||COMMUNITY||Loop|
|AIR CONDITIONING||Window Unit/s|
|ARE ANY PROPERTY PHOTOS VIRTUALLY STAGED?||No|
|BUILT BEFORE 1978 (Y/N)||Yes|
|CONSTRUCTION||Brick, Concrete, Steel, Stone|
|ELECTRICAL SERVICE||201-600 Amps, Circuit Breakers|
|EXTERIOR BUILDING TYPE||Brick, Limestone|
|FIRE PROTECTION||Alarm Monitored|
|GEOGRAPHIC LOCALE||Downtown Chicago|
|HEAT/VENTILATION||Central Bldg Heat, Gas|
|INFORMATION||24-Hr Notice Required, List Broker Must Accompany|
|LISTING TYPE||Exclusive Right To Sell|
|LOT DIMENSIONS||133 X 122|
|MANAGING BROKER (Y/N)||Yes|
|PARCEL IDENTIFICATION NUMBER||17108090161170|
|PROPERTY OFFERED||For Sale Only|
|TAXES YEAR||2019, 2019|
|TENANT PAYS||Air Conditioning, Common Area Maintenance, Electric, Operating Stops, Real Property Taxes|
|TOTAL ANNUAL EXPENSE SOURCE||Actual|
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2020 MRED. All rights reserved.
NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.