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111 N Wabash Avenue 1114-1116 Chicago, IL 60602

Sponsored
Source: https://www.cbcworldwide.com
For Sale
$2,310,000

259,000 SF 2 Units Portfolio For Sale

Property size:
259,000 SF

Description

Added:
Apr 9, 2025
Days on Market:
272
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. Call for a copy of the rent roll.

Property Features for 111 N Wabash Avenue 1114-1116

General Information

Sale Condition
1031-exchange
Property type
Other investment properties
Square Feet
259,000 SF
Elevators
Yes
Lot Size
259,000 SF

Building Details

Buildings
1
Stories
22

Location Intelligence

Current Use by Public Records

Lakefront Dental Spa Dentist GenEx DNA Testing ... Paternity Testing Service Dr. Michael B. ... Dentist Marcus Dental Practice Dentist Chicago Family Dental ... Cosmetic Dentist

Suggested Use

Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Chicago
State
Illinois
Longitude
-72.769313
Latitude
41.641079

FAQs

What type of property is this?
Investment property - 259,000 SF 2 Units Portfolio For Sale
Where is this investment property located?
The property is located at 111 N Wabash Avenue 1114-1116 Chicago, IL.
What is the asking price?
The asking price for this property is $2,310,000.
More about this property
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