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$2,820,000
Est. payment /mo
7,500 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 7,500 sqft
Price per Sqft $376
MLS Listing ID 12353422
Year Built 1999
Annual Tax Amount $48,054
Tax Year 2023
Lot Dimensions 0X0
Property Sub-Type Retail/Stores
Property Description
Pleased to present the opportunity to acquire 1044-1048 W. Fulton Market (the "Property"), a Fully leased, urban retail condo portfolio of three separate suites, located in the heart of Chicago's Fulton Market neighborhood. The Property consists of three adjacent first-floor retail condominiums, each with 1,366 square feet of retail-level space and each including an additional 1,000 square feet of lower-level space. The total ground-level space is 4,098 square feet with total usable square feet of 7,098 including the lower levels. The Property is home to Metaphysical Pilates, Tucker Pup's Pet Resort, and High Society Nails, three local service-based businesses that are considered e-commerce resistant. The tenants have an outstanding weighted average lease term remaining of 8.2 years. , with in- place, well below the average market retail rents. The Property is located in the heart of Fulton Market, Chicago's hottest submarket for housing, retail, office, and nightlife. Over the last decade, the neighborhood has undergone a transformation rarely seen in urban areas, with developers rushing to develop apartments, class-A office buildings, and a vibrant mix of restaurants, bars, and retail destinations. Fulton Market now offers a robust retail corridor, a deep roster of well-known companies, and many acclaimed restaurants and hotels. Randolph Street's 'Restaurant Row' anchors the area's nightlife, featuring favorites such as Bar Siena, Au Cheval, Girl and the Goat, and Formento's. Beyond Randolph, Fulton Market is home to some of the city's top dining destinations, including Il Carciofo, Rose Mary, Fioretta, Momotaro, Nobu, and Swift & Sons. Companies such as Google, McDonald's, John Deere, Dyson, Calamos Investments, and Coca- Cola have established headquarters or regional offices in the neighborhood. The Property is accessible via multiple modes of transit, positioned 0.2 miles from the CTA Green/Pink Line 'L' station at Morgan Street, 0.4 miles from CTA bus routes #20 and #65 at Madison Street and Grand Avenue, 0.4 miles from Interstate-90/94, and 0.8 miles from the Metra station at Ogilvie
Location
State IL
County Cook
Area Chi - Near West Side
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Retail/Stores
Level or Stories 1
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Listed by Adam Max • Compass
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CROSSTOWN REALTORS
Owner | License ID: 471019341