12
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$1,200,000
Est. payment /mo
7,833 SqFt
Active
5101 S Michigan Avenue Chicago, IL 60615
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UPDATED:
08/17/2024 08:48 AM
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 7,833 sqft
Price per Sqft $153
MLS Listing ID 12011642
Year Built 2005
Annual Tax Amount $43,492
Tax Year 2022
Lot Dimensions 160X100
Property Description
Washington Park-7 Stores (4 Restaurants, 3 stores) High quality Washington Park Retail Center with 4 restaurants & 3 stores. Two blocks from the 51st Street CTA Green Line Station at the intersection of 51st & S Michigan. Excellent visibility corner lot with popular restaurants and good traffic. 9 parking spaces with room for more. 16,257 square foot lot zoned B3-3, approximately 7,833 square foot building, built in 2005. Annual PGI of $182,507 & value-add potential. $2.3 Billion Annual Consumer Spending Ideal post-covid restaurant layouts, primarily take-out with limited dine-in & large kitchens with hoods. Single story building, amply plumbed for additional light food service &/or easily install hoods. 3-mile radius population of 281,310. Average household income of $60,288 & annual consumer spending of $2.3 Billion. Average retail rent is $20.64NNN with a vacancy rate of 4.9%.
Location
State IL
County Cook
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Robert Klairmont • Twins Realty LLC
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