15 Racine Ave Chicago, IL 60607
- Office Properties & Spaces
Current Use by Public Records
- Skin By Zana / Skin Care Clinic / Waxing Hair Removal Service
Property Details for 15 Racine Ave
- Property type
- Office Properties & Spaces
- APN
- 17-17-201-047-1002
- APU
- 17172010471002
Description
This exceptional investment opportunity presents a 1,150 square foot executive office suite located at 15 S Racine Ave, Chicago, IL 60607. The property, built in 2009, is currently 100% occupied under a gross lease with a single tenant, offering a stabilized investment with a 5.64% cap rate and a Net Operating Income (NOI) of $22,548. The asking price is $400,000, with a price per square foot of $347.83. The lease expires on July 31, 2024. This is a single-unit property with a retail and office designation. A unique financing opportunity is available: $100,000 down payment with $300,000 seller-financed at 0% interest for 30 months. After the 30-month period, the remaining balance will be approximately $244,500, and financing will continue at 6% interest. The seller will continue property management, eliminating landlord responsibilities. The tenant pays all utilities, which are separately metered. The property benefits from its location in the ultra-prime West Loop, just south of the Madison/Racine intersection. A long-term tenant (11+ years) occupies the space. Similar properties are available in the West Loop, Wicker Park, and Lakeview neighborhoods.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $375,000
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Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6568
- Latitude
- 41.8811
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
