542 West Roosevelt Road_Property for Sale
542 West Roosevelt Road_Property for Sale
542 West Roosevelt Road, Chicago, IL, 60607, US

542 West Roosevelt Road

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
24,558 sf
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


542 West Roosevelt Road 4_Property for Sale
542 West Roosevelt Road 4_Property for Sale

Contact brokers

542 West Roosevelt Road (0 Properties)

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Last updated
Jun 20, 2024