435 W Erie Street, Chicago, IL 60654

Active · For Sale · Office/Tech

$2,990,000

435 W Erie Street, Chicago, IL 60654

Units
1
Price / Unit
$2,990,000
Est. Cap Rate
5.65%
Est. GRM
14.80

Property Overview

Sale Lease back opportunity, Great Professional Office condominium for sale, With an Already in place corporate tenant with a Guaranteed 10 year NNN lease, Solid tenant, ensuring immediate, consistent rental income for the buyer. Perfect for Investment and to add to your income portfolio. Extremely rare offering here, NOI Is $167,091, Excellent visibility in highly desirable, prime location. 4,200 SQ FT, DX-7 Zoning. This is a must-see, well-appointed, professional office environment. High End Modern, open office space. This unit is on the Ground Level, If not used for the current tenant in the future, This is Perfect for any business, office, tech, government, real estate, insurance, Mortgage, Financial Trading Medical dental, retail. Very Well maintained. Currently used as a Corporate Office, The unit is Completely and fully built out, turn-key, move-in ready with 9 executive, private office suites, cubicles for support staff, 1 conference room, supply storage room, 2 large, modern restrooms, full, private kitchen/break area. Fully wired with fiber optic, Internet, phone, Cat 5 and music. Handicap accessible from interior entrance. Unit features a full, sprinkler system. All new,…

Investor Resource

Property Intelligence

Financial Snapshot

Reported Annual Income
$201,964
Reported Annual Expenses
$32,909
Estimated NOI
$169,055
Estimated Cap Rate
5.65%
Estimated GRM
14.80
Annual Taxes
$14,821 (2023)

Property Details

Units
1
Building Size
4,200 SF
Lot Size
4,200 SF
Lot Dimensions
4200
Stories
1
Year Built
1982
Building Age
36-50 Years
Construction
Concrete, Steel Siding
Zoning
OFFIC
Parcel Number
17091270391167

Operations & Utilities

Heating
Electric, Forced Air
Cooling
Central Air
Tenant Pays
Common Area Maintenance, Insurance, Repairs
Electric
Service - 201 to 600 Amps
Water Source
Municipal Water
Utilities
Electric to Site, Natural Gas Available, Sewer Connected, Water Available, Cable Available, Fiber
Possession
Closing, Immediate, Lease Back Required, Negotiable
Documents Available
Rent Roll, Floor Plan, Tax Bill

Location & Use

County
Cook
Market Area
Chicago - Near North Side
Present Use
Commercial, Office
Potential Use
Commercial, Office
Location
Central Business District, Mixed Use Area, Public Transport Avail, Free Standing/Urban, High Traffic Area
Frontage
City Street, Public Road

Reported figures come from the listing source. When shown, estimated NOI and cap rate use reported income and expenses; estimated GRM uses asking price and reported income. All figures should be independently verified.