Kenwood Plaza | 1311 E 87th St
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Kenwood Plaza 1311 E 87th St
7,200 SF 100% Leased Retail Building Chicago, IL 60619 $1,499,000 ($208/SF) 8.59% Cap Rate
Investment Highlights
- - Fully occupied 7,200 SF building
- - Prime location in the vibrant Chicago area
- - Densely populated area ensures high foot traffic
- - Zoned B3-1 for versatile commercial use
- - 100% occupancy ensures stable income
- - Exceptional investment opportunity for retail/strip center investor
Executive Summary
Introducing a prime investment opportunity in Chicago, IL - a fully occupied 7,200 SF retail/strip center built in 2008. Zoned B3-1, this property boasts 100% occupancy, presenting a stable and lucrative income stream. The inclusion of a liquor store in the sale enhances the investment appeal, catering to the diverse needs of the densely populated area. Strategically located in a high-traffic zone, this property offers an exceptional chance for retail/strip center investors to capitalize on a well-maintained, income-producing asset in a thriving market.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $186,240 | $26.18 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $186,240 | $26.18 |
Taxes | $45,155 | $6.35 |
Operating Expenses | $12,321 | $1.73 |
Total Expenses | $57,476 | $8.08 |
Net Operating Income | $128,764 | $18.10 |
Financial Summary (Actual - 2023)
Gross Rental Income | |
---|---|
Annual | $186,240 |
Annual Per SF | $26.18 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $186,240 |
Annual Per SF | $26.18 |
Taxes | |
---|---|
Annual | $45,155 |
Annual Per SF | $6.35 |
Operating Expenses | |
---|---|
Annual | $12,321 |
Annual Per SF | $1.73 |
Total Expenses | |
---|---|
Annual | $57,476 |
Annual Per SF | $8.08 |
Net Operating Income | |
---|---|
Annual | $128,764 |
Annual Per SF | $18.10 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
7,200 SF
Building Class
A
Year Built
2005
Price
$1,499,000
Price Per SF
$208
Cap Rate
8.59%
NOI
$128,760
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.45 AC
Parking
28 Spaces (3.89 Spaces per 1,000 SF Leased)
Frontage
151 FT on E 87th St
Amenities
- Corner Lot
- Pylon Sign
Walk Score®
Very Walkable (79)
Nearby Major Retailers
PROPERTY TAXES
Parcel Numbers | Total Assessment | $33,729 (2024) | |
Land Assessment | $16,588 (2024) | Annual Taxes | $45,155 ($6.27/SF) |
Improvements Assessment | $17,141 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$16,588 (2024)
Improvements Assessment
$17,141 (2024)
Total Assessment
$33,729 (2024)
Annual Taxes
$45,155 ($6.27/SF)
Tax Year
2023
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Kenwood Plaza | 1311 E 87th St
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