2301 Irving Park Rd, Chicago, IL 60618
12,500 SF | Retail Building | Chicago, IL 60618 | $4,125,000 ($330/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,125,000
- Property Type
-
Retail
- Square Feet
- 12,500 SF
- Price / Square Foot
- $330
Listing Contacts
Brad Teitelbaum
Verified Profile
Austin Coll
Verified Profile
Cameron Weitzel
Verified Profile
- Property Info
Property Overview
Bellagio Real Estate Partners, LLC is pleased to present an investment
opportunity to acquire a dense-infill Walgreens located at 2301 W Irving Park Rd
Chicago, IL in the North Center neighborhood. This property is situated on the
signalized hard corner intersection of W Irving Park Road and N Oakley Ave (30k
Combined VPD). The property features a rare, oversized parking lot for an urban
setting, making it an excellent opportunity for a future redevelopment site.
With existing low rent, there is significant future upside potential. Walgreens
approximately has 2 years left on the lease with three, five-year renewal options.
With a population exceeding 251,000 within a 2-mile radius and a strategic
location directly across from The Martha Washington Senior Apartments and
within 1 mile of Kindred Hospital Chicago North is a great long term
investment.
- Rare, oversized parking lot for an urban site
- Lease includes 2 years remaining with three 5-year renewal options
- Low rent – replaceable with future upside
-Convenient left-hand turn from the main corridor into Walgreens with multiple access points
? Excellent future opportunity for redevelopment
- Directly across from The Martha Washington Senior Apartments (104 units)
- 10 minute drive to the I-90/I-94 Kennedy Expressway (315,000+ VPD)
- Located 1 block over from the major intersection of N Western Ave & W Irving Park RD (60k Combined VPD)
- 10 minute walk from CTA’s Brown Line rail
- Just 1.9 miles from Wrigley Field
- Only 3.3 miles from Montrose Beach
- 15 minute drive to Chicago’s Downtown Loop
- Affluent neighborhood with average HHI of $140,879 within 1 mile of the subject site
- Located directly on the signalized hard corner intersection of W Irving Park RD & N Oakley (30k Combined VPD)
- Strong median home value of $646k within 1 mile of subject
- Less than 1 mile away from Kindred Hospital Chicago North
- Bus stop at corner of property
opportunity to acquire a dense-infill Walgreens located at 2301 W Irving Park Rd
Chicago, IL in the North Center neighborhood. This property is situated on the
signalized hard corner intersection of W Irving Park Road and N Oakley Ave (30k
Combined VPD). The property features a rare, oversized parking lot for an urban
setting, making it an excellent opportunity for a future redevelopment site.
With existing low rent, there is significant future upside potential. Walgreens
approximately has 2 years left on the lease with three, five-year renewal options.
With a population exceeding 251,000 within a 2-mile radius and a strategic
location directly across from The Martha Washington Senior Apartments and
within 1 mile of Kindred Hospital Chicago North is a great long term
investment.
- Rare, oversized parking lot for an urban site
- Lease includes 2 years remaining with three 5-year renewal options
- Low rent – replaceable with future upside
-Convenient left-hand turn from the main corridor into Walgreens with multiple access points
? Excellent future opportunity for redevelopment
- Directly across from The Martha Washington Senior Apartments (104 units)
- 10 minute drive to the I-90/I-94 Kennedy Expressway (315,000+ VPD)
- Located 1 block over from the major intersection of N Western Ave & W Irving Park RD (60k Combined VPD)
- 10 minute walk from CTA’s Brown Line rail
- Just 1.9 miles from Wrigley Field
- Only 3.3 miles from Montrose Beach
- 15 minute drive to Chicago’s Downtown Loop
- Affluent neighborhood with average HHI of $140,879 within 1 mile of the subject site
- Located directly on the signalized hard corner intersection of W Irving Park RD & N Oakley (30k Combined VPD)
- Strong median home value of $646k within 1 mile of subject
- Less than 1 mile away from Kindred Hospital Chicago North
- Bus stop at corner of property
Property Details
- Class
- C
- Year Built
- 1991
- Stories
- 1
- Property Subtype
- Drug Store, Grocery/Convenience Store
- Lot Size (sq. ft)
- 33,106 SF
Highlights
- Rare, oversized parking lot for an urban site.
- Lease includes 2 years remaining with three 5-year renewal options.
- Low rent – replaceable with future upside.
- Convenient left-hand turn from the main corridor into Walgreens with multiple access points.
- Excellent future opportunity for redevelopment.
- Directly across from The Martha Washington Senior Apartments (104 units).
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