505 N McClurg Ct | Chicago, IL 60611
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505 N McClurg Ct
Chicago, IL 60611
Subway & West Loop Veterinary Care · Retail Property For Sale
Investment Highlights
- Core, Urban Infill Location in Streeterville
- West Loop Veterinary Care Corporate Guarantee
- Amazon-Proof Tenants
- Excellent Tenant Diversification
- New 10-Year Lease with Annual Rent Escalations
- Unmatched Downtown Chicago Demographics
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the West Loop Veterinary Care Streeterville & Subway located in Chicago, IL (“the Property”). The Property consists of 4,482-square-feet of retail space located on the first floor of a residential condominium building. The Property is 100% occupied by Subway and West Loop Veterinary Care Streeterville, who are operating under passive net leases with landlord responsibilities limited to the building’s structure and capital improvements. Each lease also includes significant rental escalations offering investors a built-in hedge against inflation. See lease abstract for full details.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
4,482 SF
Year Built
2009
Price
$5,493,166 CAD
Price Per SF
$1,226 CAD
Cap Rate
7.25%
NOI
$398,402 CAD
Percent Leased
100%
Building Height
1 Story
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