For Sale
$4,325,000
600-620 Dearborn StChicago, IL 60605
High-yield, multi-tenant retail investment.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 123
Highlights
- Assumable Loan: $2,454,970 loan balance (3/5/2024), 3.70% fixed interest rate, 30-year amortization, 10/1/2026 maturity, 3-2-1-0-0 prepayment penalty.
- Strong Tenant Base: 100% occupied with five retail tenants, including long-term tenants 7-Eleven (since 1991), Amarit Thai & Sushi (lease extended), and Sofi Restaurant (lease extended). Leases include annual rent increases and expense reimbursements.
- Excellent Transit Access: Adjacent to bus lines and within 0.1-0.5 miles of multiple CTA train lines (Red, Blue, Brown) and Metra stations. Close proximity to Interstates 90, 290, and US Highway 41.
- Prime Loop Location: High-traffic intersection in Chicago's Central Loop, near Grant Park, the Chicago River, Willis Tower, and Union Station. Surrounded by retail, dining, and entertainment options.
- Ground Floor Retail in Iconic Building: Located in the Transportation Building, a 22-story building with 296 residential condos.
- High Traffic Counts: Approximately 10,000 vehicles per day pass the property at the signalized intersection. Significant pedestrian traffic due to surrounding office and residential buildings and proximity to transit.
Property Details for 600-620 Dearborn St
- Property type
- Retail properties, Restaurants
- Square Feet
- 12,132 SF
- Year Built
- 1914
- Buildings
- 1
- Lot Size (sq. ft)
- 6,970 SF
- Units
- 5
Location Insight
- City
- Chicago
- County
- Cook
- State
- Illinois
- Latitude
- 41.87406079
- Longitude
- -87.62918334
600-620 Dearborn St, Chicago, Illinois
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - High-yield, multi-tenant retail investment.
- Where is the retail property located?
- The property is located at 600-620 Dearborn St Chicago, IL.
- What is the asking price?
- The asking price for this property is $4,325,000.
- What are key features of this property?
- This property features: Assumable Loan: $2,454,970 loan balance (3/5/2024), 3.70% fixed interest rate, 30-year amortization, 10/1/2026 maturity, 3-2-1-0-0 prepayment penalty.; Strong Tenant Base: 100% occupied with five retail tenants, including long-term tenants 7-Eleven (since 1991), Amarit Thai & Sushi (lease extended), and Sofi Restaurant (lease extended). Leases include annual rent increases and expense reimbursements.; Excellent Transit Access: Adjacent to bus lines and within 0.1-0.5 miles of multiple CTA train lines (Red, Blue, Brown) and Metra stations. Close proximity to Interstates 90, 290, and US Highway 41.
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