Active

111 N Wabash Avenue Unit: 810-2102-2103-1114-1116

Chicago IL, 60602

$3,410,000


$13.17 per sqft

Active

259,000 sqft

Commercial

Built in 1922

Courtesy of Coldwell Banker Real Estate Group

Don't miss this portfolio investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 5 units that are diversified under 4 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 7.3 cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are all well established medical businesses with significant lease term remaining. One significant tenant 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. Call for a copy of the rent roll. See MLS #11955091 for Units 1114-1116 or MLS #11955198 for Units 810, 2102 and 2103.

11954596

MLS ID

January 9, 2024

Listed

October 2, 2024

Updated

Map

111 N Wabash Avenue Unit: 810-2102-2103-1114-1116
Chicago IL, 60602

Interior Features

Total Stories

22


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

No

Exterior/Building Features

Other Property Details

Area Name

CHI - Loop


Taxes

$72,180


Tax Frequency

Annually


Days on Market

233


Garage

No


View

No


County

Cook


Pool

No

Listing History

Date

Event

Price

7/12/2024

Price change

$3,410,000

-3%

Courtesy of Coldwell Banker Real Estate Group, Charles Kirkwood,
Listing Contact: 630-232-6900 

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Ethan Eliot Realty Group are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 10/2/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 4:21 AM UTC, 10/2/2024

 

 

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