1514 Milwaukee AveChicago, IL 60622

Property Details for 1514 Milwaukee Ave

Year built

1904

Lot size

0.07 AC

Property type

Retail properties

Property subtype

Retail space

APN

17-06-207-030

APU

1706207030

Description

This exceptional investment opportunity presents a 3,009 square foot, single-tenant retail storefront located at 1514 N Milwaukee Ave, Chicago, IL 60622. The property is 100% occupied by 2nd STREET, a rapidly expanding international retailer with over 700 stores globally, under a net lease with a corporate guarantee. The lease commenced in 2024 and extends to January 31, 2034, offering a remaining term of approximately 9.2 years with 3% annual rent increases. The property boasts approximately 150 feet of frontage on a prominent corner location in Chicago's vibrant Wicker Park neighborhood, benefiting from high pedestrian and vehicle traffic (46,450 VPD). The property's strategic location is within close proximity to major transportation arteries, including the CTA Blue Line and several bus routes, and is surrounded by a thriving mix of national retailers, restaurants, and entertainment venues. The strong tenant, 2nd STREET, is part of GEO Holdings Corporation, a company with a market capitalization of $75 billion and $425 billion in revenue over the past year. The property's Net Operating Income (NOI) is $161,538, resulting in a 7.41% cap rate. The asking price is $2,180,000. The property is zoned B3-2 and features a single story. Within a one-mile radius, the area boasts a population of 62,737, an average household income of $152,496, and a median home value of $600,207. This presents a compelling investment opportunity with a stable, high-performing tenant in a highly desirable location. The property's APN is 17-06-207-030-0000.

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.9089

Longitude

-87.6756

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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