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Value-Add Six Tenant Strip Center 3244-3260 W 55th St 9,600 SF 61% Leased Retail Building Chicago, IL 60632 $1,980,133 CAD ($206.26 CAD/SF) 9% Cap Rate

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Investment Highlights

Value-Add Opportunity | 3,000 Square Feet of Vacant End-Cap Available to Lease | Seller Invested Significant Capital into the Space
Four of the Five Tenants have Annual Rental Increases
1.8 Miles from Chicago Midway International Airport, which saw 15.8 Million Visitors in the Past 12 Months (Placer.ai)

La Michocana and Elite Staffing have been Operating at this Location since 2014
New Leasing Momentum | Henry Rosa and Reyna’s Salon Unisex Signed Leases in 2024
Abundance of Schools within a One-Mile Radius | Dense Industrial Corridor Located North of the Subject Property

Executive Summary

This net leased six-tenant retail center offers a long operating history, with La Michocana and Elite Staffing in place since 2014. The property features built-in rental escalations, as four tenants benefit from annual rent increases, and has demonstrated strong leasing momentum with three new leases executed since 2023. Additionally, the asset presents a value-add opportunity with approximately 3,000 square feet of vacant space available for lease. The asset is located 1.8 miles from Chicago Midway International Airport and 1.1 miles from the Kedzie Orange Line CTA station, providing excellent regional connectivity and commuter traffic. The property is supported by a dense trade area of 54,474 residents within one mile and 179,327 residents within two miles, along with 127,397 employees within a two-mile radius. An abundance of nearby schools, a dense industrial corridor, and surrounding national retailers further support consistent customer traffic and long-term stability.

Value Add Strip Center 55th St Chicago Costar Brochure

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront

Building Size

9,600 SF

Building Class

Year Built

1967

Price

$1,980,133 CAD

Price Per SF

$206.26 CAD

Cap Rate

NOI

$178,158 CAD

Percent Leased

61%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.48

Lot Size

0.46 AC

Zoning

B3-1

Parking

15 Spaces (1.56 Spaces per 1,000 SF Leased)

Frontage

160’ on 55th St

Pylon Sign

Restaurant

Space Availability

Space
Size
Space Use
Position
Available

3256
750 SF
Restaurant
In-Line
Now

Discover an exceptional leasing opportunity at 3250-3260 W. 55th Street, Chicago, Illinois. This end cap space and a former pizzeria are located on a high-traffic street in a densely populated neighborhood. The property features rare on-site parking for the city, prominent pylon signage, and is just one block east of Kedzie Avenue, offering convenient access to Midway Airport. Flexible suite sizes are available, ranging from 750 to 3,000 square feet (divisible), within a total building area of 9,600 square feet. Major area co-tenants include Walgreens, LA Fitness, and Pete’s Fresh Market, ensuring strong neighboring foot traffic. For leasing information, contact Jason Lenhoff at (847) 752-5550 x 1 or jlenhoff@oakwoodgroupllc.com.