$2,310,000
111 N Wabash Avenue #1114-1116
Chicago, IL, 60602
Don’t miss this investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 2 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 6.73% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established medical businesses with significant lease term remaining. One of the tenants is a credit tenant with a lease in place until 2034 and options to extend. This is a premier location in the heart of Chicago’s Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. See MLS #11955198 for Units 810, 2102, 2103 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined.
Property Details
Price:
$2,310,000
MLS #:
MRD11955091
Status:
Active
Beds:
0
Baths:
0
Address:
111 N Wabash Avenue #1114-1116
Type:
Commercial
Subtype:
Office
Neighborhood:
CHI – Loop
City:
Chicago
Listed Date:
Jan 9, 2024
State:
IL
Finished Sq Ft:
259,000
Total Sq Ft:
259,000
ZIP:
60602
Year Built:
1922
Schools
Interior
Cooling
Central Air
Exterior
Financial
Tax Year
2022
Taxes
$31,715
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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111 N Wabash Avenue #1114-1116
Chicago, IL
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