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100% Vacant, Full Retail Release Opportunity 757 N Orleans St 13 738 pi² Commerce de détail Condo Vente à l’encan en ligne Chicago, IL 60654
Faits saillants de l'investissement
- 75 N Orleans Street is a 198-unit, 22-story, renowned MFR building in Chicago’s Central Business District surrounded by affluent demographics.
- Value-add opportunity throughout releasing ground-floor retail and taking buyout from Walgreens, benefiting from short-term passive income.
- Walgreens occupies 83% of the GLA, remains bound to its lease despite ceasing operations, with four years and a month left.
- Located in River North, one of Chicago’s most vibrant neighborhoods, adjacent to CTA Brown/Purple Line station with 1M+ annual riders.
- Surrounded by luxury condos, nightlife, and top-tier restaurants in the city’s dense urban-infill core, and home to a $183K+ average household income.
- Chicago’s economy and population are diverse, productive, and affluent; Chicago is known as one of the most important business centers in the world.
Résumé de l'annonce
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the 757 N Orleans Street property located in Chicago, Illinois. The property is currently 83% economically leased to Walgreens, which remains bound to its lease obligations despite ceasing operations at the location (“dark”). This creates an opportunity for the whole space to be leased (as the balance is vacant, formerly occupied by Bank of America and Verizon) and for the future landlord to receive a buyout from Walgreens (upon releasing the space) to relieve them of their continuing lease obligation. The property represents an acquisition opportunity in the Chicago metro area, one of the most desirable real estate markets in the country. With approximately 2.6 million residents, it is the third-most populous city in the United States and part of the third-largest metropolitan statistical area, with nearly 10 million people. The Property is located in River North, a vibrant neighborhood in the Near North Side of Chicago, known for high-rise condominiums, townhomes, and some of the city’s most popular restaurants and nightlife. The Property enjoys unmatched demographics in River North, with 113,654 residents and an average household income of $183,063 within a 1-mile radius. This offering presents investors with immediate cash flow from Walgreens while unlocking substantial upside potential through lease-up or redevelopment. Given the unmatched demographics, strong foot traffic, and excellent transit access via Interstate 90 and the nearby CTA “L” station, the property is well-positioned for a buyer looking to capitalize on Chicago’s dynamic real estate market. Property tours are by appointment only. Please contact the listing broker to schedule.
Visites 3D Matterport
Notice d’offre Cliquez ici pour accéder à
Salle de données Cliquez ici pour accéder à
- Offering Memorandum
- Operating and Financial Statements
- Purchase Agreement
- Third Party Reports
- Miscellaneous
1 Unité disponible
Unité First Floor Retail
| Taille de l’unité | 13 738 pi² | Nbre d’espaces de stationnement | 22 |
| Utilisation du condo | Commerce de détail | ID/Numéro de lot | 17-09-201-018-1097 |
| Type de vente | Investissement |
| Taille de l’unité | 13 738 pi² |
| Utilisation du condo | Commerce de détail |
| Type de vente | Investissement |
| Nbre d’espaces de stationnement | 22 |
| ID/Numéro de lot | 17-09-201-018-1097 |
Description
This well-trafficked property occupies 13,739 square feet of retail space on the ground floor of a 22-story residential condominium building, which was constructed in 2009. More than 20 dedicated parking spaces provide customers with convenience.
Faits sur la propriété
Commodités
Commodités du site
- Accès 24 heures
- Centre d’affaires
- Clubhouse
- Centre de conditionnement physique
- Piscine
- Portier
- Terrasse sur le toit
- Ascenseur
- Solarium
À propos de l’architecte
Autres propriétés dans le Fujikawa Johnson Gobel Architects portefeuille
Conseiller(ère)s en vente
Conseiller(ère)s en vente
Isaiah Harf, Regional Managing Director
Blaise Bennett, Associate Vice President
Avant de se joindre à la Stan Johnson Company, Bennett était avocat pour un cabinet d'avocats boutique basé à Chicago où il était responsable de l'examen et de la négociation des contrats immobiliers, de l'examen et de la validation des titres et de l'analyse des documents de location et de prêt.
À propos de la technologie des enchères
Contact pour la vente à l’encan
Présenté par
100% Vacant, Full Retail Release Opportunity | 757 N Orleans St
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Présenté par
100% Vacant, Full Retail Release Opportunity | 757 N Orleans St
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