542 Roosevelt Rd Chicago, IL 60607
- Lifestyle centers
- 24,558 SF
Current Use by Public Records
- Mighty Roofing and Siding / Roofing Contractor
- Tosh Chandy / Real Estate Agency
Property Details for 542 Roosevelt Rd
- Property size
- 24,558 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 24,558 square foot multi-tenant retail center, located at 542-566 W. Roosevelt Road in Chicago, IL 60607, presents a compelling investment opportunity. Boasting 91% occupancy, the property features a diverse tenant mix within a bustling South Loop location. Built in 1964 and extensively renovated between 2017 and 2019 (including a new roof with a warranty extending into 2029), this shopping center and storefront property offers significant upside potential. Improvements exceeding $1.5 million include a new roof and façade, along with various plumbing, electrical upgrades, and fresh paint. The property sits on a 0.73-acre lot and includes 28 parking spaces. Its DS-3 Downtown Service District zoning allows for a variety of uses. An attractive assumable loan is available, and the property also benefits from a billboard with potential for separate revenue generation. The strategic location along a busy stretch of Roosevelt Road, with proximity to I-90, ensures high visibility and accessibility. Value-add opportunities exist through lease-up of vacant spaces and market rate adjustments. This is a rare chance to acquire a well-maintained, high-performing retail asset in a prime Chicago location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.641
- Latitude
- 41.8675
