Address
5101 S Michigan Avenue, Chicago, IL
Price
$ 1,200,000
Property Attributes
- MLS#12011642
- TypeCommercial
- CountyCOOK
- CityChicago
- AreaCHI - Washington Park
- NeighborhoodWashington Park
- Zip60615
- Style
- Year Built2005
- Taxes$ 43492
- Price$ 1,200,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage7833
- Lot Size0.373209 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Washington Park-7 Stores (4 Restaurants, 3 stores) High quality Washington Park Retail Center with 4 restaurants & 3 stores. Two blocks from the 51st Street CTA Green Line Station at the intersection of 51st & S Michigan. Excellent visibility corner lot with popular restaurants and good traffic. 9 parking spaces with room for more. 16,257 square foot lot zoned B3-3, approximately 7,833 square foot building, built in 2005. Annual PGI of $182,507 & value-add potential. $2.3 Billion Annual Consumer Spending Ideal post-covid restaurant layouts, primarily take-out with limited dine-in & large kitchens with hoods. Single story building, amply plumbed for additional light food service &/or easily install hoods. 3-mile radius population of 281,310. Average household income of $60,288 & annual consumer spending of $2.3 Billion. Average retail rent is $20.64NNN with a vacancy rate of 4.9%.
| Price History | |
|---|---|
| 3/23/2024 | Listed $1,200,000 |
General Features
| Cooling | Central Air |
|---|---|
| Year Built | 2005 |
| Electric | Other |
| Tenant Pays | Air Conditioning,Common Area Maintenance,Electricity,Heat,Janitorial Service,Taxes,Insurance,Sewer,Varies by Tenant |
| Stories | 1 |
| Tax Year | 2022 |
| County | Cook |
| Net Operating Income | 12000 |
| Property Type | Commercial Sale |
| Status | Active |
| Directions | 90 South to 51st. 51st East. 101 E 51st on Right. |
| City | Chicago |
| Total Units | 7 |
| MLS Area | CHI - Washington Park |
| Lot Size Square Feet | 16257 |
| Street Name | Michigan |
| Tax Annual Amount | 43492 |
| Additional Parcels Y/N | No |
| Days on Market | 7 |
| Standard Status | Active |
| Property Type | Retail/Stores |
Interior Features
| Street Suffix | Avenue |
|---|
Exterior Features
| Building Area Total | 7833 |
|---|---|
| Lot Dimensions | 160X100 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60615
Price
Taxes
Visits
Year Built
