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416 E 43rd St 12,000 SF of Retail Space Available in Chicago, IL 60653
HIGHLIGHTS
- Walking distance to public transportation
- Several offices & meetings rooms.
- Open floor plan, can accommodate many different business uses.
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 12,000 SF | Negotiable | $24.08 CAD/SF/YR $2.01 CAD/SF/MO $288,906 CAD/YR $24,075 CAD/MO | Triple Net (NNN) |
1st Floor
? One-story commercial building offering 12,000 square feet of rentable space plus an extra 704 square feet dedicated to parking. ? The building is zoned B3-3, which permits several business uses, including large grocery stores, medical centers, restaurants, professional offices, retail stores, banks, and many other types of businesses. ? The space is situated in the revitalizing Bronzeville neighborhood, which features several new residential projects, including townhomes, condominiums, single-family houses, and apartment rentals. ? The property is located on a main thoroughfare of East 43rd Street, with Cottage Grove a few blocks to the east and King Drive a few blocks to the west. ? Accessible public transportation includes the bus line on East 43rd Street and the elevated Green Line, located a few blocks to the west. ? This is a NNN lease with a base rent of $17.58 and passthroughs of $3.78 for real estate taxes.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Convenience Store
- Space is in Excellent Condition
- Central Air Conditioning
- Partitioned Offices
- Freezer Space
- Security System
- Secure Storage
- Yard
- Smoke Detector
- Wheelchair Accessible
- Excellent frontage visibility on East 43rd Street!
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS
| Total Space Available | 12,000 SF | Gross Leasable Area | 12,000 SF |
| Property Type | Retail | Year Built | 1942 |
| Property Subtype | Convenience Store |
| Total Space Available | 12,000 SF |
| Property Type | Retail |
| Property Subtype | Convenience Store |
| Gross Leasable Area | 12,000 SF |
| Year Built | 1942 |
ABOUT THE PROPERTY
Solid one-story commercial property, with 12,000 square feet under the roof. The property has an open floor plan, and the current use is a grocery store. There are several offices and workrooms. There is ample parking and approximately 29 parking spaces. Bronzeville is a historic South Side Chicago neighborhood known as the "Black Metropolis" for its significance during the Great Migration as a center of African-American culture, commerce, and social life. Today, it is a neighborhood undergoing revitalization, recognized as a National Heritage Area with ongoing projects for economic and community development. OWNERSHIP WILL CONSIDER A PURCHASE AS WELL FOR THE PROPERTY!
NEARBY MAJOR RETAILERS
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416 E 43rd St
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