Current Use by Public Records
- Lifestyle centers
Property Details for 6516-6532 North Ave
- Year built
- 2005
- Lot size
- 1.50 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Galewood Plaza II, a two-story, 13,778 square foot shopping center in Chicago, Illinois, presents a compelling investment opportunity. Located at 6516-6532 W. North Avenue (zip code 60707), this multi-tenant property boasts 100% occupancy with five tenants across eight units. Built in 2005 on a 1.5-acre lot, the property features a strong mix of national and local tenants, benefiting from a high-traffic location on North Avenue (Route 64), with approximately 32,000 vehicles passing daily. The property's high visibility is further enhanced by 234 feet of frontage and a two-story pylon sign. The asking price is $2,573,000, representing a price per square foot of $186.75 and a 9.00% capitalization rate, with a Net Operating Income (NOI) of $231,570.77. The property's location provides easy access to surrounding communities including Oak Park, River Forest, and Elmwood Park. Approximately 80% of tenants are on NNN leases. The property is situated in a densely populated area, with over 313,190 people and nearly 115,000 households within a three-mile radius. Ample surface and street parking is available. The property's APN numbers are: 13-31-422-030-0000
Value Estimations
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AI approach
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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
- -87.7891
- Latitude
- 41.9095
