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424 E 71st St 4,800 SF 100% Leased Retail Building Chicago, IL 60619 $723,188 CAD ($150.66 CAD/SF) 11% Cap Rate
Investment Highlights
- Approximately 9 miles south of the Loop.
- Long-term tenants including a laundromat, nail salon, and beauty supply store.
- High-traffic corridor with nearby intersection seeing 25,000+ vehicles per day.
- Prime corner location with excellent street visibility.
Executive Summary
Incredible cash flowing strip center that is already producing a 11% Cap Rate. This is a prime three unit commercial corner property successfully run as a neighborhood street level retail center with longtime laundromat, nail salon and beauty supply tenants. Two tenants just executed three-year leases with 4% annual escalation while the third just signed a five-year lease with 3% annual escalations. Tenants pay for all utilities. This 100% occupied 4,800 SF freestanding three-unit building has 148 ft 71st Street frontage. Located in the Park Manor area of the Greater Grand Crossing community 9 miles south of the Loop. Easy access to the Eden's Expressway and The Skyway. Nearby intersection has 25,000+ VPD. Zoned B3-1 – Community Shopping District. Located in the 67th/Wentworth TIF District. The district is intended to foster new residential, commercial, and mixed-use development investment opportunities. Other grant options are possible, such as the Neighborhood Opportunity Fund and the R3 Grant.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$132,431
|
$27.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,622
|
$1.38
|
| Effective Gross Income |
$125,810
|
$26.21
|
| Taxes |
$17,952
|
$3.74
|
| Operating Expenses |
$13,681
|
$2.85
|
| Total Expenses |
$31,633
|
$6.59
|
| Net Operating Income |
$94,177
|
$19.62
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $132,431 |
| Annual Per SF | $27.59 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,622 |
| Annual Per SF | $1.38 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $125,810 |
| Annual Per SF | $26.21 |
| Taxes (CAD) | |
|---|---|
| Annual | $17,952 |
| Annual Per SF | $3.74 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $13,681 |
| Annual Per SF | $2.85 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $31,633 |
| Annual Per SF | $6.59 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $94,177 |
| Annual Per SF | $19.62 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,800 SF
Building Class
C
Year Built
1915
Price
$723,188 CAD
Price Per SF
$150.66 CAD
Cap Rate
11%
NOI
$79,551 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.79
Lot Size
0.14 AC
Zoning
B3-1 - Community Shopping District
Frontage
148’ on E 71st St
Amenities
- Bus Line
- Corner Lot
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- A Beauty Supply
- Retailer
- 1,500 SF
- $27.27 CAD
- Modified Gross
- Oct 2026
- Collins Laundromat
- -
- 1,800 SF
- $23.65 CAD
- Modified Gross
- Oct 2028
- Nail Bling Salon
- Retailer
- 1,500 SF
- $32.63 CAD
- Modified Gross
- Oct 2026
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| A Beauty Supply | Retailer | 1,500 SF | $27.27 CAD | Modified Gross | Oct 2026 | |
| Collins Laundromat | - | 1,800 SF | $23.65 CAD | Modified Gross | Oct 2028 | |
| Nail Bling Salon | Retailer | 1,500 SF | $32.63 CAD | Modified Gross | Oct 2026 |
Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 20-22-419-042-0000 | Total Assessment | $188,730 CAD (2025) |
| Land Assessment | $20,725 CAD (2025) | Annual Taxes | $17,952 CAD ($3.74 CAD/SF) |
| Improvements Assessment | $168,004 CAD (2025) | Tax Year | 2023 |
Property Taxes
Parcel Number
20-22-419-042-0000
Land Assessment
$20,725 CAD (2025)
Improvements Assessment
$168,004 CAD (2025)
Total Assessment
$188,730 CAD (2025)
Annual Taxes
$17,952 CAD ($3.74 CAD/SF)
Tax Year
2023
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424 E 71st St
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