About 414 East 71st Street
Incredible cash flowing strip center that is already producing a 12.5% Cap Rate. This is a prime three unit commercial corner property successfully run as a neighborhood street level retail center with longtime laundromat, nail salon and beauty supply tenants. Two tenants just executed three-year leases with 4% annual escalation while the third just signed a five-year lease with 3% annual escalations. Tenants pay for all utilities. This 100% occupied 4,800 SF freestanding three-unit building has 148 ft 71st Street frontage. Located in the Park Manor area of the Greater Grand Crossing community 9 miles south of the Loop. Easy access to the Eden's Expressway and The Skyway. Nearby intersection has 25,000+ VPD. Zoned B3-1 - Community Shopping District. Located in the 67th/Wentworth TIF District. The district is intended to foster new residential, commercial, and mixed-use development investment opportunities. Other grant options are possible, such as the Neighborhood Opportunity Fund and the R3 Grant.
Features of 414 East 71st Street
| MLS® # | 12002638 |
|---|---|
| Price | $525,000 |
| Bathrooms | 0.00 |
| Acres | 0.00 |
| Year Built | 1915 |
| Type | Commercial Sale |
| Sub-Type | Retail/Stores |
| Status | Active |
Community Information
| Address | 414 East 71st Street |
|---|---|
| Area | CHI - Greater Grand Crossing |
| City | Chicago |
| County | Cook |
| State | IL |
| Zip Code | 60619 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Cooling | Central Air |
|---|---|
| Fireplace | No |
| Has Basement | No |
Additional Information
| Days on Market | 316 |
|---|---|
| Zoning | COMMR |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Be Realty, LLC |
|---|