821 Eastman St Chicago, IL 60642

Property Details for 821 Eastman St

Property type

Schools

Property subtype

Retail properties

Description

This exceptional Chicago retail investment offers a compelling opportunity to acquire a 100% leased, stabilized property at 821 W Eastman St. The 23,150 square foot building sits on a 22,050 square foot lot and boasts a strong NOI of $795,295, resulting in a 6.14% cap rate. Anchored by the British International School of Chicago, a Nord Anglia Education school with a lease extending to July 31, 2041, the property also includes Bright Horizons and Hill Family Pet Care as tenants. All tenants are credit-rated and operate under a triple-net lease structure, minimizing landlord responsibilities. The property benefits from its prime location in Chicago's Clybourn Corridor, a thriving retail area with high-end residential neighborhoods nearby. The area features excellent public transportation access, including proximity to the CTA Red Line and several bus routes. With a weighted average lease term of 12.6 years and a 100% occupancy rate, this investment presents a stable and attractive return. The property's location within a densely populated area with high average household incomes and home values further enhances its investment potential. The C3-5 zoning allows for a variety of uses, providing future flexibility. This is a rare opportunity to acquire a core, stabilized retail investment with a long-term, high-quality tenant base in a premier Chicago location. The property's significant frontage along Dayton and Eastman Streets adds to its appeal. The asking price is $12,950,000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6494

Latitude

41.9075