41 87Th StChicago, IL 60620

Property Details for 41 87Th St

Property type

Retail space

APN

25-04-209-029

APU

2504209029

Description

This exceptional fee-simple retail investment opportunity in Chicago, IL, presents a compelling 7.50% cap rate on a fully stabilized, multi-tenant property. The 5,928 square foot building, constructed in 2017, boasts three national tenants: Chipotle, T-Mobile, and GNC, each occupying a space between 1,200 and 2,538 square feet. All leases are corporate-guaranteed, providing significant income stream security. The property enjoys 100% occupancy and a strong NOI of $226,292. Rent increases of 10% every five years are built into the leases, offering inflation protection. Recent tenant improvements have modernized the T-Mobile and GNC spaces. Situated on a 0.94-acre lot at 41 W 87th St, Chicago, IL 60620 (APN 25-04-209-029), this property benefits from a prime location within a grocery-anchored center, alongside other national retailers like Floor & Decor, Wendy's, and Home Furniture Outlet. Its proximity to major roadways, including I-94 (with daily traffic counts exceeding 233,900 vehicles), and its adjacency to a Home Depot, Marshall's, and a Walmart Supercenter, ensures high visibility and accessibility. The property's location within a densely populated area, with over 237,700 residents within a 3-mile radius and nearly 600,000 within a 5-mile radius, boasting average household incomes exceeding $70,000 and $74,000 respectively, guarantees a robust customer base. The strong sales performance of Chipotle and GNC further underscores the investment's potential. This is a rare opportunity to acquire a high-performing, multi-tenant retail property in a highly desirable Chicago location, suitable for a 1031 exchange.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7357

Longitude

-87.626

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

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 unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].