For Sale
$2,190,000

3600 26Th St Chicago, IL 60623

High-cap rate, mixed-use building, Little Village

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional mixed-use property, located at 3600 W 26th St, Chicago, IL 60623, presents a compelling investment opportunity. The 10,541 square foot building boasts a prime location on a high-grossing retail corridor, second only to Michigan Avenue. The property features a three-story structure with street-level retail space occupied by two long-term tenants: Cash America (corporate lease extending to 2029) and Boost Mobile (franchisee, over 10 years). Above the retail space are six fully occupied apartments, offering significant value-add potential with a range of finishes and individual furnaces (tenant-paid heat). The building sits on a 5,344 square foot lot, zoned B3-2. The property's strong financial performance is highlighted by a 9.79% cap rate and a Net Operating Income (NOI) of $214,352, based on a $2,190,000 asking price. Recent improvements include new tuckpointing on the north and west sides and three newly installed PTAC heating/cooling systems in a top-floor unit. The property is offered free and clear of existing financing, providing immediate ownership and control. This is a rare chance to acquire a well-maintained, mixed-use asset with stable commercial tenants and substantial upside potential in the residential component. The property's multi-tenant occupancy is currently at 100%, with a remaining lease term of 5 years for at least one tenant. The Cook County APN is 16-26-125-023.

Highlights

  • High-traffic corner location at a stoplight intersection in Little Village.
  • Prime retail location on Chicago's second-highest-grossing retail corridor.
  • Strong, stable commercial tenants: Cash America (lease to 2029) and Boost Mobile (10+ year lease).
  • Value-add opportunity: six fully occupied residential units with upside potential.
  • Well-maintained building with recent improvements including new tuckpointing and PTAC systems.

Property Details for 3600 26Th St

Property type
Retail properties, Mixed-use properties
Square Feet
10,541 SF
Buildings
1
Stories
3
Units
8

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.844421338883
Longitude
-87.714769588197

FAQs

What type of property is this?
Retail property - High-cap rate, mixed-use building, Little Village
Where is the retail property located?
The property is located at 3600 26Th St Chicago, IL.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: High-traffic corner location at a stoplight intersection in Little Village.; Prime retail location on Chicago's second-highest-grossing retail corridor.; Strong, stable commercial tenants: Cash America (lease to 2029) and Boost Mobile (10+ year lease).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
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3600 26Th St
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