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Atlantic Professional Building 3948 W 26th St 57,966 SF 96% Leased Office Building Chicago, IL 60623 $3,735,585 CAD ($64.44 CAD/SF) 6.44% Cap Rate
Executive Summary
Atlantic Professional Building Available for Sale for the 1st time in 50 years
57,966 SF Office Building located in Hot Little Village
Major value add play in raising rents, and leasing out vacant office spaces
Potential for user to use majority of the building
Potential for redevelopment and acquisition of adjacent building
Central States SER Cook County Workforce is long term anchor tenant in the building
26th Street is the 2nd highest performing commercial corridor in the city behind Michigan Ave
Asset has the ability to achieve $570,000 NOI through lease up (Current NOI is $173,964 at 56% leased)
57,966 SF Office Building located in Hot Little Village
Major value add play in raising rents, and leasing out vacant office spaces
Potential for user to use majority of the building
Potential for redevelopment and acquisition of adjacent building
Central States SER Cook County Workforce is long term anchor tenant in the building
26th Street is the 2nd highest performing commercial corridor in the city behind Michigan Ave
Asset has the ability to achieve $570,000 NOI through lease up (Current NOI is $173,964 at 56% leased)
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
57,966 SF
Building Class
C
Year Built/Renovated
1918/2004
Price
$3,735,585 CAD
Price Per SF
$64.44 CAD
Cap Rate
6.44%
NOI
$240,688 CAD
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
19,800 SF
Building FAR
0.96
Lot Size
1.38 AC
Zoning
B-3 - Community Shopping District
Amenities
- Bus Line
- Property Manager on Site
- Security System
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 1st Fl-Ste 111
- 800 SF
- Office
- Partial Build-Out
- Now
- 1st Fl-Ste 112
- 800 SF
- Office
- Partial Build-Out
- Now
- 1st Fl-Ste 115
- 800 SF
- Office
- Partial Build-Out
- Now
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 111 | 800 SF | Office | Partial Build-Out | Now |
| 1st Fl-Ste 112 | 800 SF | Office | Partial Build-Out | Now |
| 1st Fl-Ste 115 | 800 SF | Office | Partial Build-Out | Now |
1st Fl-Ste 111
| Size |
| 800 SF |
| Space Use |
| Office |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
1st Fl-Ste 112
| Size |
| 800 SF |
| Space Use |
| Office |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
1st Fl-Ste 115
| Size |
| 800 SF |
| Space Use |
| Office |
| Build-Out |
| Partial Build-Out |
| Available |
| Now |
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Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,112,499 CAD | |
| Land Assessment | $125,349 CAD | Total Assessment | $1,237,848 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$125,349 CAD
Improvements Assessment
$1,112,499 CAD
Total Assessment
$1,237,848 CAD
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Atlantic Professional Building | 3948 W 26th St
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