222 61St StChicago, IL 60637

Property Details for 222 61St St

Year built

1925

Lot size

0.28 AC

Property type

Day care centers & nurseries

Property subtype

Retail properties

Description

This three-story, 8,600-square-foot daycare center in Chicago, IL, presents a compelling value-add investment opportunity. Located at 222 E 61st St, this property boasts a 9.14% cap rate and a strong NOI of $73,118. The building, constructed in 1925 and renovated in 2023, sits on a 0.28-acre lot with eight parking spaces. Currently operating at 100% occupancy with a single tenant under a three-year lease (commencing March 2023) at $10,000 per month, this property offers immediate income generation. The B3-2 zoning allows for diverse uses. Its strategic location near the Green Line and Dan Ryan Expressway, coupled with proximity to the future Obama Presidential Library, promises significant long-term appreciation. Seller financing is available with a 30% down payment, a 7.00% interest rate, a 360-month amortization, a two-year interest-only period, and a five-year balloon payment. The property is meticulously maintained and situated in a revitalizing neighborhood. This is a rare chance to acquire a stable, income-producing asset with substantial growth potential. The property is sold as-is.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7841

Longitude

-87.6194

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