542-566 W Roosevelt Rd | Chicago, IL 60607
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542-566 W Roosevelt Rd
Chicago, IL 60607
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Attractive assumable debt
- Value-add through lease up, potential to spin off billboard, potential to acquire the 2 suites on western portion of the asset that are NAP
- Close proximity to Interstate 90
- More than $1.5M spent in recent years to revitalize the asset
- Well positioned in an active stretch of Chicago's South Loop
- Customer specific parking on-site
EXECUTIVE SUMMARY
24,558 unanchored strip center & billboard. Value-add opportunity through lease-up, marking rents to market, and billboard spin-off. The sole vacancy is the asset's most desirable suite, a 2,221 square foot end cap at the corner of Roosevelt and Clinton. It was formerly occupied by AT&T who is paying rent through January 2025.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
24,558 SF
Building Class
C
Year Built/Renovated
1964/2019
NOI
$829,831 CAD
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.77
Lot Size
0.73 AC
Zoning
DS-3 - Downtown Service District
Parking
28 Spaces (1.14 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $553,920 CAD | |
| Land Assessment | $523,300 CAD | Total Assessment | $1,077,220 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$523,300 CAD
Improvements Assessment
$553,920 CAD
Total Assessment
$1,077,220 CAD
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