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1409-1411 W Lunt Ave 4,000 SF 100% Leased Retail Building Chicago, IL 60626 $1,785,382 CAD ($446.35 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Recent upgrades include a newer roof, modern storefront windows, stainless steel appliances, in-unit laundry, and engineered hardwood floors.
- Just steps from Lake Michigan in booming Rogers Park, near Loyola, Red Line, parks, and dining.
- Tenants pay utilities (except water), minimal common space, newer roof and storefront windows.
EXECUTIVE SUMMARY
Great investment opportunity in Rogers Park just steps to the Lake! This building features two apartment units on the 2nd level both featuring individual HVAC and 11 ft ceilings. 2E is a 2 bed 1.5 bath unit that has been recently updated w/ SS appliances, in unit laundry, engineered hardwood floors throughout and modern bathroom finishes. 2W features 2 bedrooms, 1 bath and a dining room. There are 2 commercial units which the tenant combined them to be one convenience/liquor store. All tenants pay all their own utilities except water. Roof is newer, as are commercial storefront windows and more. There is also a billboard on the east side of the building bringing in $500/month with 3 more years on the current lease which renews every 5 years. This armchair investment has very little common space to maintain and minimal expenses, with room to increase rents over time. All this located in booming Rogers Park with easy access to Lake Shore Drive, Loyola, the Red Line, downtown, parks along the lake, bars, restaurants and more, making the units upstairs easy to rent.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$129,653
|
$32.41
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$129,653
|
$32.41
|
| Taxes |
$11,913
|
$2.98
|
| Operating Expenses |
$10,469
|
$2.62
|
| Total Expenses |
$22,382
|
$5.60
|
| Net Operating Income |
$107,271
|
$26.82
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $129,653 |
| Annual Per SF | $32.41 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $129,653 |
| Annual Per SF | $32.41 |
| Taxes (CAD) | |
|---|---|
| Annual | $11,913 |
| Annual Per SF | $2.98 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $10,469 |
| Annual Per SF | $2.62 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $22,382 |
| Annual Per SF | $5.60 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $107,271 |
| Annual Per SF | $26.82 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,000 SF
Building Class
B
Year Built
1910
Price
$1,785,382 CAD
Price Per SF
$446.35 CAD
Cap Rate
6%
NOI
$107,123 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.53
Lot Size
0.06 AC
Zoning
B3-3 - Community Shopping District
AMENITIES
- Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Neighbor Market
- Retailer
- -
- -
- -
.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Neighbor Market | Retailer | - | - | - |
Walk Score®
Walker's Paradise (93)
Transit Score®
Excellent Transit (74)
Bike Score®
Biker's Paradise (90)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
15 min drive
2024 Population
67,237
298,936
648,246
994,462
2029 Population
65,406
290,245
627,272
964,897
2024-2029 Projected Population Growth
-2.7%
-2.9%
-3.2%
-3.0%
Median Age
37.2
38.8
37.8
37.8
College Degree + Higher
44%
50%
55%
35%
Daytime Employees
13,923
99,870
228,474
378,048
Total Businesses
1,599
12,055
29,794
52,810
Average Household Income
$72,703
$89,794
$105,800
$126,729
Median Household Income
$52,435
$63,687
$75,350
$94,606
Total Consumer Spending
$698.1M
$3.6B
$8.4B
$13.7B
2024 Households
30,662
134,226
282,429
439,114
Average Home Value
$344,505
$415,227
$478,284
$544,572
$ values in USD
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 11-32-113-006-0000 | Total Assessment | $77,599 CAD |
| Land Assessment | $8,543 CAD | Annual Taxes | $11,913 CAD ($2.98 CAD/SF) |
| Improvements Assessment | $69,056 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
11-32-113-006-0000
Land Assessment
$8,543 CAD
Improvements Assessment
$69,056 CAD
Total Assessment
$77,599 CAD
Annual Taxes
$11,913 CAD ($2.98 CAD/SF)
Tax Year
2024
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1409-1411 W Lunt Ave
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