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655 West Irving Park Road, Chicago, IL 60613

$4,500,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 19-30 Car Garage
  • Updated 4 days ago
655 West Irving Park Road, Chicago, IL 60613 View this property at 655 West Irving Park Road, Chicago, IL 60613
655 West Irving Park Road Chicago IL 60613

Property Description

Multi-tenant retail/office commercial property investment offering for sale in the luxury residential condo building Park Place Towers, located in the heart of Chicago's pre-eminent Lakeview neighborhood. This approx. 14,865 SF property is comprised of approx. 6,150 SF of ground floor retail space, and approx. 8,715 SF of second floor office space. Projected 2017 annual NOI is $275,058. The retail portion of the property is comprised of 5 long-term tenants with a mix of gross and triple net leases in place. The office condo is 8,437 SF with 6 tenants with a mix of gross and triple net leases. The tenant roster is comprised of service retail (grocery store, dry cleaner, fitness, etc) a variety of professional & medical office spaces and is
anchored by one of the largest residential developers and apt owners in the US. All leases include annual escalations. This investment is being offered at a CAP rate of approx. 6.1%. Parking is also available for purchase.

Full Property Details for 655 West Irving Park Road

  • Price: $4,500,000
  • Taxes: $76,370 (2015)
  • Status: Active
  • Type: Commercial
  • MLS ID: 09396218
  • Updated: 11/29/2016
  • Added: 5 day(s) ago

Property History

  • 655 West Irving Park Road, Chicago, IL
  • Listed at $4,500,000 on 11/28/16

Additional Information

  • Security/Safety: Other

Parking

  • Garage: Yes
  • Garage Description: 19-30 Spaces
  • Garage Spaces: 19-30
  • Garage Description: 19-30 Spaces

Location

  • Area: CHI - Lake View
  • County: Cook
  • Township: LAKE VIEW
  • Driving Directions: North on Lakeshore. East on Irving Park Road.
  • Location Details: Downtown Chicago

Heating & Cooling

  • Cooling Type: Central Individual
  • Heating Type: Central Heat/Individual Controls

Structural Information

  • Drive-In Doors: 1
  • # Loading Docks: 1
  • Stories/Levels: 56
  • Current Bldg. Use: Commercial
  • Year Built: 1970

Unit Information

  • # Tenants: 12

Retail

  • Lease Min - Max: 14,865 - 14,865 Sq. Ft.

Lot Features

  • Potential Use: Commercial
  • Zoning: COMMR

Financial Considerations

  • Tax Amount: $76,370.2
  • Tax Year: 2015
  • Tenant Pays: Air Conditioning, Common Area Maintenance, Electric, Heat, Real Property Taxes, Insurance, Scavenger

Disclosures and Reports

  • APN: 14211010400000

Listed by Sperry Van Ness

See This Property

Estimate the Cost

655 West Irving Park Road will cost you if you:

  • Buy it at list price: $
  • Put down a % down payment : $
  • Pay at a interest rate over

  • Pay $ per year in insurance and $ per year in property taxes.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

In the Community

Nearby Schools

655 West Irving Park Road, Chicago, IL 60613 (MLS# 09396218) is a Commercial property. 655 West Irving Park Road is currently listed for $4,500,000 and was received on November 28, 2016. Want to learn more about 655 West Irving Park Road? Do you have questions about finding other Commercial real estate for sale in LakeView? You can browse all LakeView real estate or contact a Coldwell Banker agent to request more information.

Listed by Sperry Van Ness

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