116 Prospect Ave, Park Ridge, IL 60068
5,200 SF | 26% Leased | Retail Building | Park Ridge, IL 60068 | $1,299,000 ($250/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,299,000
- Property Type
-
Retail
- Square Feet
- 5,200 SF
- Price / Square Foot
- $250
Listing Contacts
Stephen Cioromski
Verified Profile
Hubert Cioromski
Verified Profile
- Property Info
Property Overview
Unique Value add property available for sale. The building is composed of ground floor space, a lower level, as well as a second floor with a dedicated elevator. The sale comes with the plans to convert the second floor into a massive luxury apartment overlooking uptown. The first floor and lower level are ready to be leased and can accompany a variety of retail/office uses. The building recently signed a new 10 year NNN lease to a national retailer for a portion of the main level, immediately adding value to the property. Construction on the buildout to begin on newly leased space. The newly executed lease is to occupy roughly 1,172 square feet, leaving approximately 2000 rsf available for lease on the main level. The lower level features an existing break-room, two bathrooms, and additional rooms for storage.
Property Details
- Class
- C
- Year Built
- 1935
- Stories
- 2
- Property Subtype
- Storefront Retail/Residential, Storefront Retail/Office, Office Live/Work Unit
- Lot Size (sq. ft)
- 20,038 SF
Highlights
- New 10 year NNN lease signed for a portion of first floor
- Located heart of uptown Park Ridge
- Plans to convert 2nd floor into a 3bed/2.5 bath apartment
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