2730 Halsted St Chicago, IL 60614

Property Details for 2730 Halsted St

Lot size

0.58 lot acres

Property size

17,706 SF

Property type

Retail properties & Spaces

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 17,706 square foot, single-tenant grocery store, The Fresh Market, located at 2730 N Halsted St, Chicago, IL 60614. The property sits on a 0.58-acre lot at the corner of Halsted Street and Diversey Parkway, benefiting from high visibility and accessibility. A 25-space surface parking lot serves the store, a rare amenity in this dense urban area. The property boasts a 10-year net lease with The Fresh Market, expiring September 30, 2034, including 10% rent increases every five years. The store underwent a complete renovation in 2021, including a new roof (warrantied until 2040), HVAC systems, and parking lot. The asking price is $13,200,000, representing a 5.50% cap rate and a net operating income (NOI) of $725,946. The property enjoys 100% occupancy and is situated in the affluent Lincoln Park and Lakeview neighborhoods, with a one-mile radius boasting 99,952 residents and an average household income exceeding $172,014. The location benefits from high vehicular and pedestrian traffic, and proximity to the CTA Diversey stop, serving 1.2 million passengers annually. The Fresh Market, a national grocer with over 162 locations, is backed by Cencosud, a publicly traded international conglomerate. This presents a strong, stable investment with significant upside potential due to the lease terms and the prime location within a high-demand market.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.649

Latitude

41.9325