Active
111 N Wabash Avenue Unit: 1114-1116
Chicago IL, 60602
$2,310,000
$8.92 per sqft
Active
259,000 sqft
Commercial
Built in 1922
Courtesy of Coldwell Banker Real Estate Group
Don't miss this investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 2 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 6.73% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established medical businesses with significant lease term remaining. One of the tenants is a credit tenant with a lease in place until 2034 and options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. See MLS #11955198 for Units 810, 2102, 2103 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined.
11955091
MLSⓇ ID
January 9, 2024
Listed
November 25, 2024
Updated
Map
111 N Wabash Avenue Unit: 1114-1116
Chicago IL, 60602
Interior Features
Total Stories
22
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
No
Exterior/Building Features
Other Property Details
Area Name
CHI - Loop
Taxes
$31,715
Tax Frequency
Annually
Days on Market
222
Garage
No
View
No
County
Cook
Pool
No
Courtesy of Coldwell Banker Real Estate Group, Charles Kirkwood,
Listing Contact: 630-232-6900
The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.
Based on information submitted to the MLS GRID for MRED 11/25/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.
©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.
Data last updated 4:42 PM UTC, 11/25/2024
