542 Roosevelt RdChicago, IL 60607

Property Details for 542 Roosevelt Rd

Property size (Sq ft)

24,558 SF

Property type

Retail properties

Property subtype

Lifestyle 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.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.8675

Longitude

-87.641

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