NNN-Leased Retail Condo
2136-2142 W Division St Chicago, IL 60622
2136-2142 W Division St, Chicago, IL, 60622
Contact for pricing
For Sale
Contact for pricing
Three separately parceled retail condos with personal guaranteed NNN leases and annual escalations.
Property Size3,600 SF
Price / SF$319.44
Days on Market169
Property Features for 2136-2142 W Division St
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- RETAIL
Listing agency
Colliers | Chicago Downtown
(773) 220-4821
Listed by
Hunter Cannon
(773) 220-4821
Source
Moodyscre
Added: Feb 2 Updated: Jul 20 at 4:42PM Checked: Jul 21 at 8:45AM
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 Colliers | Chicago Downtown
Investment Insights
Based on property information with market context.
This three-property NNN-leased retail condo portfolio consists of retail condominium units totaling 3,600 SF (at 2136–2142 W Division St, Chicago, IL 60622). The offering is supported by three personal, guaranteed leases with annual escalations. The units are delivered with high ceilings, exposed brick, ADA restrooms, and full glass walk-out storefronts.
The property benefits from extra-wide sidewalks with dedicated outdoor seating and strong pedestrian presence described as high foot traffic. The site is positioned for transit access with the Blue Line (Division station) approximately 0.3 miles away, and it is identified as a Walker’s Paradise with a Walk Score of 95 and a Bike Score of 94. Public remarks also cite favorable B3-2 zoning and recent Chicago street-retail vacancy in the area as below 4.5%, with some asking rents for new deals pushing $50 NNN.
The property benefits from extra-wide sidewalks with dedicated outdoor seating and strong pedestrian presence described as high foot traffic. The site is positioned for transit access with the Blue Line (Division station) approximately 0.3 miles away, and it is identified as a Walker’s Paradise with a Walk Score of 95 and a Bike Score of 94. Public remarks also cite favorable B3-2 zoning and recent Chicago street-retail vacancy in the area as below 4.5%, with some asking rents for new deals pushing $50 NNN.
Key Highlights
- Three separately parceled retail condo units with personal guaranteed NNN leases and annual escalations
- Portfolio retail building size: 3,600 SF with NOI of $89,724
- High‑foot‑traffic street‑retail location with 95 Walk Score, 94 Bike Score, and Blue Line (Division) 0.3 miles away
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.8k | $21.60 |
| − Vacancy | −$6.6k | −$1.84 |
| EGI | $71.2k | $19.76 |
| − OpEx | −$21.3k | −$5.93 |
| NOI | $49.8k | $13.83 |
3,600 SF · lease $21.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$711.5K
$622.6K – $830.1K
NOI $49,805 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,817 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - Three separately parceled retail condos with personal guaranteed NNN leases and annual escalations.
Where is this nnn property located?
The property is located at 2136-2142 W Division St Chicago, IL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three separately parceled retail condo units with personal guaranteed NNN leases and annual escalations; Portfolio retail building size: 3,600 SF with NOI of $89,724; High‑foot‑traffic street‑retail location with 95 Walk Score, 94 Bike Score, and Blue Line (Division) 0.3 miles away
