2301 Irving Park Rd Chicago, IL 60618-3823

Property Details for 2301 Irving Park Rd

Year built

1991

Lot size

0.12 lot acres

Property size

13,600 SF

Property type

Retail space

APN

14-19-101-008

APU

1419101008

Description

This fee-simple retail property in Chicago's North Center neighborhood offers a compelling investment opportunity. The 12,500 square foot building is currently 100% occupied by a Walgreens under a net lease with approximately two years remaining, plus three five-year renewal options. The property boasts a rare, oversized parking lot (49 spaces) for an urban location, presenting significant future redevelopment potential. Situated on a signalized corner with high visibility (30,000 combined VPD), the property benefits from a strong location near public transportation (CTA Brown Line), major expressways (I-90/I-94), and significant residential density (average household income exceeding $140,879 within one mile). The current net operating income (NOI) is $247,500. Additional features include proximity to senior living facilities (Martha Washington Apartments) and a hospital (Kindred Hospital Chicago North). The 0.76-acre lot is commercially zoned. Built in 1991, this property offers a blend of immediate income and long-term upside potential. The lease is a corporate guaranteed Net Lease (NN) with a commencement date of February 1, 1991, and an expiration date of November 30, 2026.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6862

Latitude

41.9538

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments