1052 Fulton St Chicago, IL 60607

Property Details for 1052 Fulton St

Lot size

0.12 lot acres

Property size

15,000 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional three-story, 15,000-square-foot mixed-use storefront in Chicago's coveted Fulton Market neighborhood presents a compelling value-add investment opportunity. Currently boasting 83% occupancy across five tenants, the property offers significant potential for increased cash flow through lease renegotiations to market rates. The building sits on a 0.12-acre lot (APN 17-08-410-005-0000) with prominent frontage on W. Fulton Street and N. Aberdeen Street, providing excellent visibility. The property's Class B designation and C1-1 zoning allow for diverse uses. The current pro-forma NOI is $612,330, yielding a 6.88% cap rate at the asking price of $8,900,000 ($593.33/sq ft). Its prime location, just 0.2 miles from the CTA Morgan Green/Pink Line 'L' station and within easy reach of Interstate 90/94 and Ogilvie Transportation Center, ensures strong accessibility. The surrounding area is experiencing substantial growth, with numerous new residential and commercial developments underway, further enhancing the property's long-term value. The Fulton Market/West Loop neighborhood's thriving restaurant scene, high-profile corporate presence, and robust demographics (51% population growth since 2010, average household income of $154,468 within a 1-mile radius, and a daytime employee population of 159,575) contribute to its exceptional investment potential. This is a rare chance to acquire a well-positioned asset in one of Chicago's most dynamic and sought-after submarkets.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6544

Latitude

41.8867