63 43Rd St Chicago, IL 60653
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Prime Chicago location, high NOI, strong tenants.
Property size:
16,100 SFProperty Features for 63 43Rd St
General Information
- Property type
- Individual retail properties
- Square Feet
- 16,100 SF
- Class
- B
Building Details
- Year Built/Renovated
- 1909/2020
- Buildings
- 1
- Stories
- 2
- Units
- 9
Listing Agency: Baird & Warner Listing Agent: Clarence Thompson
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional mixed-use property at 63 E 43rd St, Chicago, IL 60653, offers a compelling investment opportunity. The 16,100 square foot building, constructed in 1909 and extensively renovated between 2020 and 2022, boasts a diverse tenant mix across nine units. Anchored by Alice's Bar B Q and X-Wings, the property also includes a barber salon, beauty salon, sweet shop, and event space. A 1,200 square foot, two-bedroom apartment occupies the southeast corner. Recent capital improvements include a new furnace, central air conditioning, updated bathrooms, plumbing, electrical systems, and tuckpointing. The property features a 100% occupancy rate, generating a current NOI of $61,326 and a pro-forma NOI of $80,523, representing a 6.16% cap rate and a pro-forma cap rate of 8.09%, respectively. The asking price is $995,000, with a price per square foot of $61.80 and a price per unit of $110,555.56. Located in a high-traffic business corridor, two blocks from the CTA 43rd Street Green Line and near new residential developments and the Chicago Urban League headquarters, this B-class, net-lease property presents significant upside potential. The property is zoned B3-3 and sits on a 16,100 square foot lot. Leases are currently for one year, with rent bumps planned to bring them to market rate. The net rentable square footage is 4,660 square feet. The building is two stories and consists of one building. All tenants are credit-rated.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Residential income homes
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.623577521971
- Latitude
- 41.816509905614
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FAQs
What type of property is this?
Individual retail property - Prime Chicago location, high NOI, strong tenants.
Where is this individual retail property located?
The property is located at 63 43Rd St Chicago, IL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Nine storefront spaces and one 2-bedroom apartment in a high-traffic commercial building.; Anchored by Alice's Bar B Q and X-Wings, with additional tenants including a barber shop, beauty salon, sweet shop, and event space.; 1200 sq ft, 2-bedroom apartment.