2356 Elston Ave Chicago, IL 60614

Property Details for 2356 Elston Ave

Property size

2,400 SF

Property type

Retail properties

Description

This exceptional Class A retail condo, located at 2356 N Elston Ave, Chicago, IL 60614, presents a compelling investment opportunity. The property boasts 2,400 square feet of 100% occupied space, currently leased to a corporate tenant under a modified lease with a corporate guarantee. The lease commenced November 4, 2015, and has a remaining term of three years, expiring November 4, 2027. This represents a stable, long-term income stream with minimal landlord responsibilities. The asking price is $675,000, offering a 7.00% cap rate. The property is a single-unit building with no ground lease. The tenant's consistent occupancy for nearly a decade demonstrates the property's strong location and suitability for its current use as a mission-critical office. This stabilized investment provides a secure return with significant upside potential. The property's prime location in Chicago's vibrant Cook County ensures continued high demand and strong rental income. This is an ideal opportunity for investors seeking a low-maintenance, high-return investment in a thriving urban market. The property's strong tenant history and long-term lease provide a secure and predictable income stream. This is a rare opportunity to acquire a high-quality, single-tenant retail condo in a desirable Chicago location.