616 Roosevelt Rd Chicago, IL 60607

Property Details for 616 Roosevelt Rd

Property size

4,050 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 4,050-square-foot, single-story shopping center in Chicago's vibrant South Loop. The fully leased property boasts three units, each benefiting from rear parking. Located on Roosevelt Road, this high-traffic commercial corridor enjoys an average daily traffic count of approximately 31,000 vehicles. The property's strategic location offers unparalleled access to major transportation arteries, including the Dan Ryan Expressway (I-90/I-94) and Roosevelt Road interchange, as well as public transportation options such as CTA bus lines, the Clinton "L" stop, and the Halsted Metra Station. The surrounding area is experiencing significant growth, with the University of Illinois Chicago campus nearby, and major developments like One Central and The 78 adding to the area's appeal. The property benefits from long-established tenants, presenting potential for future income growth. Tenants are responsible for utilities and a pro-rata share of real estate tax increases. The asking price is $1,750,000, translating to $432.10 per square foot. The property is zoned DS-3. This stabilized investment offers a compelling opportunity in a rapidly developing area with strong tenant occupancy and significant upside potential. The property is situated near numerous national retailers, including Petco, Best Buy, Petsmart, Home Depot, Jewel-Osco, Whole Foods, Dick's Sporting Goods, Marshalls, and Bob's Discount Furniture, further solidifying its prime location and strong market position.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6429

Latitude

41.8675