34-36 West Erie Street, Chicago, IL
Retail for Sale - $3,000,000 - 3,382 Sq. Ft.
Property Info
CIMLS# | 965927 |
Location 34-36 West Erie Street Chicago IL 60610 | |
Updated | November 2nd, 2017 |
Type | Retail |
Price | $3,000,000 |
Building | 3,382 Sq. Ft. |
Property Description
Jameson is pleased to offer this highly desirable Triple Net National retail investment property in Chicago's Vibrant River North area. Each tenant occupies approximately 1700 SF of retail space in this luxury condo building completed in 2007.
Location Description:
34-36 West Erie
Highlights:
>> Coporate tenants Starbucks (S&P rating A) and FedExOffice (S&P rating BBB)
>> Tenants have a 10 year operating history with a strong retail presence
>> NNN leases for both tenants with future escalation options
>> Starbucks new lease term-10 year with 10% escalation in year 5-10 and (4) 5 year options with escalations
>> FedEXOffice new lease term-5 year with 10% escalation option for another 5 year term
>> River North is having a huge resurgence of many new developments in the area
>> Close proximity to Mag Mile/Michigan Ave, the best restaurants and great hospitality
>> Exceptional Demographics-$139.000.00 per year within a 1 mile radius
>> high foot traffic
>> Arm Chair Investment with minimal landlord management
>> Continual strong sales for each store with River North's new apartment, condo, hotel projects
>> Financials upon request
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