Commercial Property for Sale in Chicago Illinois 60647
2840 W North Ave, Chicago, Illinois 60647
$4,406,000
$1,514 / sq ft 7% cap rate Listed Oct 18, 2024
2,911 sqft
Building
30,468 acres
Lot
2004
Built
1
Stories
34
Parking
1
Units
About this property
Commercial Property for Sale in Chicago Illinois 60647 is a retail for sale in Chicago, Illinois, listed at $4,406,000. Key details: year built 2004, building size 2,911 sqft, lot size 30,468 acres, stories 1. Listed by Nicholas Sarris of Anchor Point Capital on LoopingCloud and last updated October 18, 2024.
Top Performing Burger King Opportunity
? Top 3% Burger King in the Nation, according to Placer.ai (Call Broker for Details)
? 20 Years of Operational History; 8+ Years of Primary Term Remaining
? 7.26% Average Cap Rate through the Remainder of the Lease Term
? Absolute NNN Lease; Zero Landlord Responsibilities
? Operated by Tri-City Foods (Wholly owned Subsidiary of the Dhanani Group – One of the Largest Burger King Franchisees in the United States)
? Attractive 1% Annual Increases; One (1) Ten (10) Year Option Remaining
? C1-3 Zoning; Allowing Potential to Develop Vertically up to 75 feet
Key highlights
- Occupied
- Net Lease Investment
- Outstanding Location in Chicago, IL
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Property details
Key facts
- Year Built
- 2004
- Building Size
- 2,911 sqft
- Lot Size
- 30,468 acres
- Stories
- 1
- Parking Spaces
- 34
- Total Units
- 1
- Occupied
- Yes
- Occupancy
- 100%
- Property Status
- Normal Sale
- Building Status
- Existing
- Net Lease Investment
- Yes
Pricing details
- Net Operating Income
- $308,640
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
7%
Cap rate
$308,640
Net operating income
$1,514
Price per sq ft
Actual - Cash Flow
Source: Yearly tax returns
Gross incomeNet operating income
| Year | Gross income | Effective gross | Expenses | NOI | Pre-tax cash flow | Cap rate |
|---|---|---|---|---|---|---|
| 2024 | - | - | - | $308,640 | - | - |
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $4,406,000 | - | - | - | - |
Features and amenities
Highlights
- Outstanding Location in Chicago, IL
- ⚓ Dense Infill Location; Over 1,200,000 People within 5 Miles
- ⚓ Affluent Neighborhood in Chicago; Average Household Income Exceeds $120,000 within 1 Mile
- ⚓ Located Along Hwy 64 (North Ave) with Visibility to over 21,000 Cars per Day
- ⚓ Nearby National Retailers include Walgreens, Chipotle, McDonalds, Family Dollar, & AutoZone
- ⚓ Less than 20 Minute Drive to Downtown Chicago
- ⚓ Food & Alcohol is the #1 Consumer Spending Expenditure within 1 Mile
Location
Address as shown by the lister.
Get directionsAbout this area - Chicago
- Population
- 98,769
- Housing units
- 36,460
- Land area
- 3.9 sq mi
- County
- Cook
Neighborhood
Places shown on the map come from Google Maps and are near the property. Check details with each place before you rely on them.
Documents, links and contacts
Additional contacts
2 people to reach- Eric VuManaging Principal (949) 667-1077
- Chandler DignamVice President of Advisory Services (714) 928-9617
Frequently asked questions
What is the asking price of Commercial Property for Sale in Chicago Illinois 60647?
Commercial Property for Sale in Chicago Illinois 60647 is listed at $4,406,000. That works out to about $1,514 per square foot. The stated cap rate is 7%.
Where is Commercial Property for Sale in Chicago Illinois 60647 located?
The property is in 2840 W North Ave, Chicago, Illinois 60647, Cook County.
What type of property is this?
This is a retail for sale in the commercial category.
How big is the property?
The building is 2,911 sqft. The lot is 30,468 acres.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
Nicholas Sarris of Anchor Point Capital listed this property. Use the Request Info button to send a message or call (949) 438-0052.
When was this listing published?
It was published on October 18, 2024 and last updated on October 18, 2024.
Listing information
- Listing ID
- CL-Illinois-12476
- Published
- Oct 18, 2024
- Last updated
- Oct 18, 2024
- Views
- 654
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