Stony Creek Promenade - Chicago, IL
4830 W. 111th Street, Oak Lawn, IL, 60453, US
15,422 m²
Asset Description
- Attractive Assumable Loan
- 3.88% Fixed Interest Rate Through May 2030
- June 1st 2033 Maturity Date
- Value-Add Opportunity Through Lease-Up, Marking Rents to Market and Billboard Spin-Off
- 2,221 SF Vacant Corner Unit Represents 9.0% of GLA
- Formally occupied by AT&T who is dark paying rent through January 2025
- Potential to spin-off the billboard and lower overall basis if separately parceled and/or acquire the western portion of the building that is not owned by current landlord
- Well Positioned Along an Active Stretch of Chicago's South Loop
- Set on Roosevelt Road between two signalized intersections (Jefferson & Clinton)
- Adjacent to Manny's Deli - a Chicago staple, Chick-Fil-A, and the 10th most visited Chipotle location in Illinois
- Proximity to I-90
- 542 W. Roosevelt lies less than 1/4 mile from Interstate 90, providing direct access to and from Chicago's major neighborhoods and suburban markets
- Customer Specific Parking On-Site
- A surface level parking lot is located at the rear of the asset, a unique and valuable feature for retail in the area
- Signage included specifying which parking spaces are assigned to each tenant
...
Attributes
Building area net
2,282 m²
Occupancy
91%
Parking spaces
28
Zoning
DS-3
Media
Investment Highlights
- Address: 542 - 566 W. Roosevelt Road, Chicago, IL 60607
- GLA: 24,558 SF
- Acreage: 0.73
- Occupancy: 91%
- Year Built: 1964
- Years Renovated: 2017-2019
- Roof: Redone in 2019, Under Waranty into 2029
- Zoning: DS-3 Downtown Service District
- Parking Spaces: 28
Contact brokers
542 West Roosevelt Road (0 Properties)
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Last updated
14 Nov 2024
