622 Roosevelt Rd Chicago, IL 60607

Property Details for 622 Roosevelt Rd

Property type

Retail properties

Property subtype

Office Properties & Spaces

Description

This exceptional mixed-use investment opportunity encompasses two adjacent properties at 622 and 632 W. Roosevelt Road in Chicago's vibrant South Loop. The portfolio totals 17,232 square feet of office and retail space, presenting a compelling value-add proposition for discerning investors or owner-occupiers. 622 W. Roosevelt, a 10,632 square foot building constructed in 1904, boasts 52.75% occupancy, with the first and lower floors leased to a national dispensary. A recent comprehensive renovation included a new elevator, upgraded HVAC systems, widened stairwells, high ceilings, new in-suite bathrooms, a new elevator lobby, and new interior and exterior doors. This building sits on 0.13 acres and includes on-site parking. Its location within the DS-3 Downtown Service District enterprise zone offers the benefit of no transfer tax upon sale. Real Estate Tax Parcel: 17-16-331-030-0000. Adjacent 632 W. Roosevelt, a 6,600 square foot building constructed in 1964 and situated on 0.19 acres, offers ideal ground-floor space for retail or service businesses. Benefiting from 70 feet of frontage on Roosevelt Road and 94 feet on Des Plaines Street, this property enjoys high visibility with over 32,000 vehicles passing daily. Windows were replaced in 2022, and on-site parking is available. This building also resides in the DS-3 Downtown Service District enterprise zone, eliminating transfer taxes. Real Estate Tax Parcel: 17-16-331-029-0000. Both properties are conveniently located near I-90 and public transportation, surrounded by diverse retailers. The properties may be purchased individually or as a portfolio.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6432

Latitude

41.8675