111 N Wabash Avenue #1114-1116Chicago, IL 60602
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.
- Property TypeCommercial
- NeighborhoodN/A
- CountyCook
- Taxes$31,715
- HOA/Condo/Coop Fees$0
- Days on Site34 Days
- MLS StatusActive
- MLS ID Number11955091
- Home Size Source N/A
- Year Built1922
- Lot Size Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Electric Circuit Breakers
- Number of Stories 22
- Property Sub Type Office
- Number Of Stories 22
Interior Features
- Cooling Central Air
Community Features
- MLS Area CHI - Loop