Mixed-Use Apartment
1220 N State Pkwy Chicago, IL 60610
1220 N State Pkwy, Chicago, IL, 60610
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For Sale
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Pending
Well-maintained 1928 apartment building with a first-floor lounge and telecom income under long-term leases.
Days on Market103
Property Features for 1220 N State Pkwy
General Information
- Standard status
- Pending
- Property subtype
- Multifamily
Listing agency
Greenstone Partners
(312) 234-0360
Listed by
Danny Spitz · License #475168799
Source
Crexi
Added: Apr 12 Updated: Jul 21 at 12:58PM Checked: Jul 22 at 1:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greenstone Partners
Investment Insights
Based on property information with market context.
Completed in 1928 as the Canterbury Court Apartments, this well-maintained, professionally managed building offers controlled, secure access with a front desk attendant providing service and security 24 hours a day, 7 days a week. On-site staff includes a resident manager and a resident janitor. Community amenities include a modern laundry room and a bicycle storage room.
The first-floor retail tenant, The Zebra Lounge, has operated at the property since it opened in 1929, and the current lease expires in late 2026. The property also has additional rental income from Verizon Wireless, which pays more than $100,000 annually to house telecommunications equipment in the basement and on the roof, with a lease term running until 2030.
The building includes multiple owner-occupied units currently used as offices and for staff. A new owner would have the opportunity to convert these spaces to market-rate units, bringing the total apartment count to 178 units, plus The Zebra Lounge.
The first-floor retail tenant, The Zebra Lounge, has operated at the property since it opened in 1929, and the current lease expires in late 2026. The property also has additional rental income from Verizon Wireless, which pays more than $100,000 annually to house telecommunications equipment in the basement and on the roof, with a lease term running until 2030.
The building includes multiple owner-occupied units currently used as offices and for staff. A new owner would have the opportunity to convert these spaces to market-rate units, bringing the total apartment count to 178 units, plus The Zebra Lounge.
Key Highlights
- 1928 apartment building (Canterbury Court Apartments) with a first‑floor retail lounge tenant, The Zebra Lounge, operating since 1929
- Zebra Lounge lease expires in late 2026; tenant has been in place since the property was constructed
- Telecom income: Verizon Wireless pays more than $100,000 annually for equipment space in the basement and on the roof; lease runs until 2030
Property Analytics
Location Intelligence
Current Use by Public Records
Zebra Lounge
Bar & Pub
Canterbury Ct Apt
Real Estate Agency
Canterbury Court Apartments
Holiday Apartment
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained 1928 apartment building with a first-floor lounge and telecom income under long-term leases.
Where is this apartment building located?
The property is located at 1220 N State Pkwy Chicago, IL.
What are key features of this property?
This property features: 1928 apartment building (Canterbury Court Apartments) with a first‑floor retail lounge tenant, The Zebra Lounge, operating since 1929; Zebra Lounge lease expires in late 2026; tenant has been in place since the property was constructed; Telecom income: Verizon Wireless pays more than $100,000 annually for equipment space in the basement and on the roof; lease runs until 2030
