Mixed-Use Apartment
For Sale
Contact for pricing
Pending
1220 N State Pkwy, Chicago, IL 60610
Well-maintained 1928 apartment building with a first-floor lounge and telecom income under long-term leases.
Days on Market110
Property Features for 1220 N State Pkwy
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Amenities
controlled secure access
24/7 front desk attendant
modern laundry room
bicycle storage room
Building Details
Year Built
1928
Construction
Classical Revival
Listing Agency:
Greenstone Partners
(312) 234-0360
Listed By:
Danny Spitz · License #475168799
Source:
Crexi
Added: Apr 12
Changed: Jul 21
Last Checked: Jul 29 at 1:32PM
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
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,736
Businesses Nearby
Explore this area
Business Placement
Demographics for 60610, IL
43,794
Population
30,091
Households
1.5
Avg Household Size
34
Median Age
79%
College-Educated
97%
High-School Grad
1.1 sq mi
ZIP Area
39,813
Density / Sq Mi
$105,649
Median Household Income
$82,934
Median Earnings
$2,029
Median Rent
$543,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
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
