1348 W Concord Pl
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1348 W Concord Pl
17,250 SF 33% Leased Office Building Chicago, IL 60642 $3,450,000 ($200/SF)
Investment Highlights
- Complete buildout
- Open plan with exposed brick walls
- Backup generator
- Elevator
- FF&E included
Executive Summary
Attention Owner Users and Investors! A versatile 3 story office building with 17,250 square feet that has been completely built out. The building consists of reception area's, private offices, open concept work area's, conference rooms, built-out webinar rooms, kitchenette and breakroom/eating area's. An owner user has income in place to off-set expenses or, with the large spectrum of permitted uses, this can be a value add opportunity for an investor. Multi-tenant potential with separate HVAC, gas and electric for each floor, fire sprinklers, generator, freight / passenger elevator, and so much more. Full list of FF&E, survey and floor plans available upon request. Rental income is proforma...second and third floor currently vacant.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$428,281
|
$24.83
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$428,281
|
$24.83
|
| Taxes |
$129,133
|
$7.49
|
| Operating Expenses |
$9,736
|
$0.56
|
| Total Expenses |
$138,869
|
$8.05
|
| Net Operating Income |
$289,412
|
$16.78
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $428,281 |
| Annual Per SF | $24.83 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $428,281 |
| Annual Per SF | $24.83 |
| Taxes | |
|---|---|
| Annual | $129,133 |
| Annual Per SF | $7.49 |
| Operating Expenses | |
|---|---|
| Annual | $9,736 |
| Annual Per SF | $0.56 |
| Total Expenses | |
|---|---|
| Annual | $138,869 |
| Annual Per SF | $8.05 |
| Net Operating Income | |
|---|---|
| Annual | $289,412 |
| Annual Per SF | $16.78 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
17,250 SF
Building Class
B
Year Built/Renovated
1888/2015
Price
$3,450,000
Price Per SF
$200
Percent Leased
33%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
5,750 SF
Building FAR
2.88
Land Acres
0.14 AC
Zoning
M3-3 - Heavy Industry District
1 of 1
Walk Score ®
Very Walkable (88)
Transit Score ®
Excellent Transit (77)
Bike Score ®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 14-32-316-047-0000 | Total Assessment | $610,204 (2023) |
| Land Assessment | $16,343 (2023) | Annual Taxes | $129,133 ($7.49/SF) |
| Improvements Assessment | $593,861 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
14-32-316-047-0000
Land Assessment
$16,343 (2023)
Improvements Assessment
$593,861 (2023)
Total Assessment
$610,204 (2023)
Annual Taxes
$129,133 ($7.49/SF)
Tax Year
2024 Payable 2024
-
Christopher Demos -
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1348 W Concord Pl
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