About 111 North Wabash Avenue 1114-1116
Don't miss this investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 2 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 6.73% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established medical businesses with significant lease term remaining. One of the tenants is a credit tenant with a lease in place until 2034 and options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. See MLS #11955198 for Units 810, 2102, 2103 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined.
Features of 111 North Wabash Avenue 1114-1116
| MLS® # | 11955091 |
|---|---|
| Price | $2,310,000 |
| Bathrooms | 0.00 |
| Acres | 0.00 |
| Year Built | 1922 |
| Type | Commercial Sale |
| Sub-Type | Office/Tech |
| Status | Active |
Community Information
| Address | 111 North Wabash Avenue 1114-1116 |
|---|---|
| Area | CHI - Loop |
| City | Chicago |
| County | Cook |
| State | IL |
| Zip Code | 60602 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Cooling | Central Air |
|---|---|
| Fireplace | No |
| Has Basement | No |
Additional Information
| Days on Market | 256 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Coldwell Banker Real Estate Group |
|---|