bedrooms
0
bathrooms
0
square feet
259,000
Acreage
-
Open Houses
-
year built
1922
Full Baths
0
Half Baths
0
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.
Location | |
Subdivision | - |
County | Cook |
Elementary School | - |
Middle School | - |
High School | - |
Exact location data not provided
Find out more
Tell us who you are, and we will have someone reach out to you.
MLS number: 12294328
Listing agent:
Charles Kirkwood
Listing broker:
Honig Realty, Inc. (Dba. Coldwell Banker Honig-Bell)
(815) 553-2406
Copyright © 2025 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.
[source]
Last update: Wednesday, February 19 2025 at 8:59 p.m. EST
Kotohomes National
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