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111 N Wabash Avenue 1114-1116
Chicago IL 60602 US

$2,310,000

Active Listing ID 11955091
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Office

$2,310,000

Active Listing ID 11955091
Save

111 N 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.

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Property Features

  • Facts
  • Property Type: Commercial Sale
  • Property Sub-type: Office

Property

  • propertytype: Commercial Sale
  • propertysubtype: Office
  • listprice: 2310000
  • unparsedaddress: 111 N Wabash Avenue
  • unitnumber: 1114-1116
  • postalcity: Chicago
  • stateorprovince: IL
  • country: US
  • postalcode: 60602
  • bathroomsfull: 0
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeunits: Acres
  • livingarea: 259000
  • livingareaunits: Square Feet
  • listagentfullname: Charles Kirkwood
  • listagentemail: chas.kirkwood@gmail.com
  • listagentkey: 3yd-MREDIL-8131
  • listagentmlsid: 8131
  • listagentpreferredphone: 8155532406
  • listagentofficephone: 8155532406
  • listofficekey: 3yd-MREDIL-771
  • listofficemlsid: 771
  • disclaimer: Copyright © 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: MREDIL
  • yearbuilt: 1922
  • listingcontractdate: 2024-01-09
  • listagenturl: http://www.cbhonig-bell.com
  • countyorparish: Cook
  • parcelnumber: 17103090161063
  • numberofunitstotal: 2
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 0
  • parkingtotal: 0
  • waterfrontyn: False
  • franchiseaffiliation: Coldwell Banker Real Estate
  • architecturalstyle: Other
  • dock: False
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: False
  • internetconsumercommentyn: False
  • customfields: {"AdditionalInformation":{}, "AlternatePrices":[], "BrokerName":"Honig Realty, Inc. (dba. Coldwell Banker Honig-Bell)", "BuilderEmail":null, "BuilderFax":null, "BuilderPhone":null, "City":null, "Country":null, "Expenses":[], "GeocodeOptions":null, "LeadRoutingEmail":"135057.lead@leads.leadrouter.com", "ListBrokerageCity":"Joliet", "ListBrokerageCountry":"US", "ListBrokerageEmail":"leads@cbhonig-bell.com", "ListBrokerageLogoUrl":"http://brokerlogos.listhub.net/MREDIL/31d4bc5115ba11dfa45900219b994c72/20170504194148851.png", "ListBrokerageName":"Honig Realty, Inc. (dba. Coldwell Banker Honig-Bell)", "ListBrokeragePhone":"815-553-2406", "ListBrokeragePostalCode":"60431", "ListBrokerageStateOrProvince":"IL", "ListBrokerageUnitNumber":null, "ListBrokerageUnparsedAddress":"320 Water Stone Way", "ListBrokerageWebsiteUrl":"http://www.cbhonig-bell.com", "ListOfficeAddress1":"230 E State St.", "ListOfficeAddress2":null, "ListOfficeBrokerMlsId":null, "ListOfficeCity":"Geneva", "ListOfficeCountry":"US", "ListOfficeEmail":"dmcquade@coldwellhomes.com", "ListOfficePostalCode":"60134", "ListOfficeStateOrProvince":"IL", "ListPriceCurrencyType":"USD", "ListingTitle":"Office - Chicago, IL", "ListingURL":"https://listings.listhub.net/pages/MREDIL/11955091/?channel=rexren", "MLSModificationTimestamp":"2024-08-17T04:30:40Z", "Neighborhoods":[{"Description":null, "Name":"CHI - Loop"}], "PostalCode":null, "RoomCount":null, "StateOrProvince":null, "Taxes":[{"TaxAnnualAmount":31715, "TaxDescription":null, "TaxYear":"2022"}], "UnitNumber":null, "UnparsedAddress":null}
Listing Changed: 11/8/2024 9:05:55 AM GMT
Source Updated Date: 11/21/2024 7:02:54 AM GMT

Courtesy of: Charles Kirkwood, Coldwell Banker Real Estate Group, chas.kirkwood@gmail.com

Copyright © 2024 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.