9449 S Western Ave | Chicago, IL 60643
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9449 S Western Ave
Chicago, IL 60643
Citibank · Retail Property For Sale
Investment Highlights
- Investment Grade Tenancy (S&P: A)
- Absolute Net Lease with Attractive Rental Increases
- Proximity to Evergreen Plaza, Premier Shopping Center Tenant Lineup
- $188 Million - Highest Bank Deposits in Zip Code
- Chicago MSA Acquisition Opportunity
- Highly-Trafficked Location, Excellent Access and Visibility
Executive Summary
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Citibank property located in Chicago, Illinois (the “Property”). The Property consists of a 7,200-square-foot bank on a 0.60- acre parcel of land. Citibank is operating under an absolute net lease with zero landlord responsibilities. The lease also features 15% rent escalations every five years throughout the base term and option terms, providing investors with a boost to overall cash flows and a significant hedge against inflation. See Lease Abstract for full details.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,200 SF
Building Class
C
Year Built/Renovated
1981/2006
Price
$7,143,000
Price Per SF
$992
Cap Rate
7%
NOI
$500,010
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.60 AC
Parking
23 Spaces (3.19 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Drive Thru
PROPERTY TAXES
| Parcel Number | 25-06-317-014-0000 | Improvements Assessment | $196,452 |
| Land Assessment | $108,585 | Total Assessment | $305,037 |
PROPERTY TAXES
Parcel Number
25-06-317-014-0000
Land Assessment
$108,585
Improvements Assessment
$196,452
Total Assessment
$305,037
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