Last Updated: 2/21/2017 3:09 PM
Description for 655 W Irving Park Road Chicago, IL 60613
Multi-tenant retail/office commercial property investment offering for sale in the luxury residential condo building Park Place Towers, located in the heart of Chicago's pre-eminent Lakeview neighborhood. This approx. 14,865 SF property is comprised of approx. 6,150 SF of ground floor retail space, and approx. 8,715 SF of second floor office space. Projected 2017 annual NOI is $275,058. The retail portion of the property is comprised of 5 long-term tenants with a mix of gross and triple net leases in place. The office condo is 8,437 SF with 6 tenants with a mix of gross and triple net leases. The tenant roster is comprised of service retail (grocery store, dry cleaner, fitness, etc) a variety of professional & medical office spaces and is anchored by one of the largest residential developers and apt owners in the US. All leases include annual escalations. This investment is being offered at a CAP rate of approx. 6.1%. Parking is also available for purchase.
Exterior / Lot Features
North on Lakeshore. East on Irving Park Road.
Listing Price History
Chicago Real Estate
Chicago is located in Illinois. Chicago, Illinois 60613 has a population of 2,702,471.
The median household income in Chicago, Illinois 60613 is $47,408. The median household income for the surrounding county is $54,648 compared to the national median of $53,046. The median age of people living in Chicago 60613 is 33.1 years.
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