Property Description
Opportunity to acquire a well-positioned retail building with four retail shops (potentially 5) on busy Peterson Ave in the Peterson Park Neighborhood of Chicago. With traffic counts of 30,000-35,000 VPD the site is in a well-traveled corridor making or a great retail location. Currently used by four shops but has potentially 5 storefronts. Also, four large garage bays in the rear currently rented to other users for additional income. Over 1,400 sq ft of garage space with four drive in doors in the rear.
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Property Details
Property Type
Retail
Year Built
1950
Year Renovated
Current Cap-Rate
7.79%
Pro Forma Cap-Rate
9.37%
Property Highlights
Prime Peterson Avenue Location – Well-positioned retail asset in Chicago’s North Park neighborhood with strong visibility and approximately 30,000–35,000 vehicles per day.
Flexible Retail & Income Potential – Features 5 potential retail bays with 4 existing tenants, providing diversified in-place income and rental upside.
Value-Add Opportunity – Approximately 9,600 SF of land zoned B3-1, with rental upside through lease-up and optimization of the existing retail and garage spaces.