$1,200,000
5101 S Michigan Avenue
Chicago, IL, 60615
Washington Park-7 Stores (4 Restaurants, 3 stores) High quality Washington Park Retail Center with 4 restaurants & 3 stores. Two blocks from the 51st Street CTA Green Line Station at the intersection of 51st & S Michigan. Excellent visibility corner lot with popular restaurants and good traffic. 9 parking spaces with room for more. 16,257 square foot lot zoned B3-3, approximately 7,833 square foot building, built in 2005. Annual PGI of $182,507 & value-add potential. $2.3 Billion Annual Consumer Spending Ideal post-covid restaurant layouts, primarily take-out with limited dine-in & large kitchens with hoods. Single story building, amply plumbed for additional light food service &/or easily install hoods. 3-mile radius population of 281,310. Average household income of $60,288 & annual consumer spending of $2.3 Billion. Average retail rent is $20.64NNN with a vacancy rate of 4.9%.
Property Details
Price:
$1,200,000
MLS #:
MRD12011642
Status:
Active
Beds:
0
Baths:
0
Address:
5101 S Michigan Avenue
Type:
Commercial
City:
Chicago
Listed Date:
Mar 22, 2024
State:
IL
Finished Sq Ft:
7,833
ZIP:
60615
Year Built:
2005
Schools
Interior
Cooling
Central Air
Exterior
Financial
Buyer Agent Compensation
AS A PERCENTAGE OF THE NET SALE PRICE. THE NET SALE PRICE IS THE GROSS SALE PRICE MINUS AMOUNTS TO BE CREDITED OR PAID TO THE BUYER, AS REFLECTED IN THE INITIAL SALES CONTRACT.Net Sale Price
Tax Year
2022
Taxes
$43,492
Debra Dobbs is one of Chicago’s top realtors with more than 39 years in the real estate business.
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5101 S Michigan Avenue
Chicago, IL
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