5101 S Michigan Avenue, Chicago, IL 60615

  • $1,200,000
  • $1,200,000
5101 S Michigan Avenue, Chicago, IL 60615
  • Commercial Sale
  • Property Type
  • 2005
  • Year Built
For Sale
5101 S Michigan Avenue, Chicago, IL 60615
  • $1,200,000
  • $1,200,000

Overview

Property ID: 18285638
  • Commercial Sale
  • Property Type
  • 2005
  • Year Built

Description

Washington Park-7 Stores (4 Restaurants, 3 stores) High quality Washington Park Retail Center with 4 restaurants & 3 stores. Two blocks from the 51st Street CTA Green Line Station at the intersection of 51st & S Michigan. Excellent visibility corner lot with popular restaurants and good traffic. 9 parking spaces with room for more. 16,257 square foot lot zoned B3-3, approximately 7,833 square foot building, built in 2005. Annual PGI of $182,507 & value-add potential. $2.3 Billion Annual Consumer Spending Ideal post-covid restaurant layouts, primarily take-out with limited dine-in & large kitchens with hoods. Single story building, amply plumbed for additional light food service &/or easily install hoods. 3-mile radius population of 281,310. Average household income of $60,288 & annual consumer spending of $2.3 Billion. Average retail rent is $20.64NNN with a vacancy rate of 4.9%.

  • Address 5101 S Michigan Avenue
  • City Chicago
  • State/county IL
  • Zip/Postal Code 60615
  • Country United States

Details

Updated on August 20, 2024 at 9:39 am
  • Property ID: 18285638
  • Price: $1,200,000
  • Year Built: 2005
  • Property Type: Commercial Sale
  • Property Status: For Sale
  • Living Area: 7833
  • MLS#: MRD12011642
  • Office Name: TWINS REALTY LLC
  • Agent Name: Robert Klairmont
  • MLS Status: Active
  • Living Area Prefix: SqFt

Additional details

  • List Office MLSID: MRD87847
  • List Agent MLSID: MRD1006427
  • List Date: 2024-03-23T00:24:54.000Z
  • Cooling: Central Air
  • Tax Annual: 43492
  • Tax Year: 2022
  • County: Cook
  • Property SubType: Restaurant,Shopping Center,Strip Center

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