414 E 71St St Chicago, IL 60619
Fully occupied retail strip center with long-term tenants.
Property size:
4,800 SFLot size:
0.14 AcresProperty Features for 414 E 71St St
General Information
- Size
- 4,800 SF
- Lot size
- 0.14 Acres
Source:
Moodyscre
Listing Agent: Mikus Kins
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Cash Flowing Retail Strip Center
This is a 4,800 square foot freestanding three-unit commercial corner property operating as a neighborhood street-level retail center. The property is 100% occupied with a laundromat, nail salon, and beauty supply tenants. Two tenants recently executed three-year leases with 4% annual escalation, while the third signed a five-year lease with 3% annual escalations. Tenants are responsible for all utilities. The building has 148 feet of frontage on 71st Street. Located in the Park Manor area of the Greater Grand Crossing community, it's situated 9 miles south of the Loop. The location provides easy access to the Eden's Expressway and The Skyway. The nearby intersection experiences over 25,000 vehicles per day. Zoned B3-1 – Community Shopping District, the property is located in the 67th/Wentworth TIF District, intended to foster new residential, commercial, and mixed-use development investment opportunities. Other grant options are possible, such as the Neighborhood Opportunity Fund and the R3 Grant.
Location Intelligence
Current Use by Public Records
Caly Beauty
Beauty Supply Store
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6144091
- Latitude
- 41.7658879
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FAQs
What type of property is this?
Strip mall - Fully occupied retail strip center with long-term tenants.
Where is this strip mall located?
The property is located at 414 E 71St St Chicago, IL.
What is the asking price?
The asking price for this property is $518,000.
What are key features of this property?
This property features: - High 12.5% Cap Rate, indicating strong cash flow.; - 100% Occupied with Long-Term Tenants: Provides immediate and stable income.; - Leases with Annual Escalations: Ensures increasing revenue stream.