3542 W Peterson Ave 19,000 SF 100% Leased Office Building Chicago, IL 60659 $1,799,770 ($94.72/SF)
INVESTMENT HIGHLIGHTS
- Situated at the intersection of W Peterson Ave and N Central Park Ave, offering high visibility and accessibility.
- Benefits from significant vehicular and pedestrian traffic, enhancing potential for commercial visibility.
- Located on a prominent corner with excellent exposure to both major streets.
- Close to a variety of retail, dining, and service establishments, providing convenience for both residents and businesses.
EXECUTIVE SUMMARY
Two buildings available on a hard corner, prime for redevelopment. Larger building is a 2 story, 15,000 square foot office building situated on a 15,769 Square Foot = 0.36 AC = 157.6 X 100 lot. Building was purchased by a non-profit entity to tear down and build a new building, plans changed. The second building which is just East at 3540 W. Peterson sits on a 50 X 100 lot. These two properties can be combined for a large new development on a 207.6 X 100 foot lot. The existing building is rented to a dozen tenants on MTM leases but needs quite a bit of work. The other building is a vacant 1 story, 4,000 Square foot office building situated on a 5,214 Square Foot = 2,708 + 2,506 = 5,214 Sq. Ft. 50 X 100 lot.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$113,976
|
$6.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$113,976
|
$6.00
|
| Taxes |
$42,922
|
$2.26
|
| Operating Expenses |
$13,976
|
$0.74
|
| Total Expenses |
$56,898
|
$2.99
|
| Net Operating Income |
$57,078
|
$3.00
|
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Property Subtype
Building Size
19,000 SF
Building Class
B
Year Built
1971
Price
$1,799,770
Price Per SF
$94.72
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,500 SF
Slab To Slab
10’
Building FAR
1.21
Lot Size
0.36 AC
Zoning
B2-1, Chicago - Neighborhood Mixed-Use District
Parking
30 Spaces (1.58 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Metro/Subway
- Signage
- Wi-Fi
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $300,250 (2024) | |
| Land Assessment | $137,970 (2024) | Annual Taxes | $42,922 ($2.26/SF) |
| Improvements Assessment | $162,280 (2024) | Tax Year | 2023 |
