For Sale
$1,700,000

3916 Broadway StChicago, IL 60613

Prime Chicago medical office, NNN lease

Overview

Added:
Dec 11, 2024
Days on market:
124
This exceptional Class A medical office building, located at 3916 N Broadway in Chicago's Lakeview East neighborhood, presents a unique investment opportunity. The 4,000 square foot property boasts 90 feet of frontage on N Broadway and includes four parking spaces. Completely renovated in April 2023, the building is up-to-code and ADA compliant, featuring stylish design and high-quality materials. Currently housing two thriving medical tenants (Wellness Home At NorthStar Healthcare & Vesper Aesthetics) on 5-year NNN leases at $29.00/SF, generating a $110,200 NOI and a 6.48% cap rate. Each unit features spacious basements, ample plumbing, exam rooms with sinks, kitchens, break rooms, labs, and washer/dryers. The units share a common entry and can be easily combined. The property is zoned B3-2 and offers the flexibility for an investor or owner-user, with Vesper Aesthetics potentially signing a long-term lease or vacating based on buyer preference. This is a turnkey operation with strong existing tenants and significant upside potential. The asking price is $1,700,000 ($425/SF). The property's Cook County APN is 14-20-207-038-1009.

Highlights

  • $1,700,000 asking price for a 4,000 square foot Class A medical office building in Chicago, IL.
  • Located at 3916 North Broadway, Chicago, IL 60613.
  • Multi-tenant property with two tenants on 5-year NNN leases, generating a $110,200 NOI and a 6.48% cap rate.
  • Recently renovated in 2023, featuring ADA-compliant design and high-quality finishes.
  • Features 90 feet of frontage on N. Broadway and 4 parking spaces.

Property Details for 3916 Broadway St

Property type
Retail properties, Office properties
Square Feet
4,000 SF
Class
A
Year Built/Renovated
1900/2023

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.9532092
Longitude
-87.6499153
3916 Broadway St, Chicago, Illinois

FAQs

What type of property is this?
Retail property - Prime Chicago medical office, NNN lease
Where is the retail property located?
The property is located at 3916 Broadway St Chicago, IL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: $1,700,000 asking price for a 4,000 square foot Class A medical office building in Chicago, IL.; Located at 3916 North Broadway, Chicago, IL 60613.; Multi-tenant property with two tenants on 5-year NNN leases, generating a $110,200 NOI and a 6.48% cap rate.
How can I contact the broker?
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3916 Broadway St
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