The property
Executive summary
Spectacular AAA renovated 4 story mixed-use commercial/residential building offers a turnkey opportunity to acquire a high performance asset on the confluence of Old Town and south Lincoln Park, just steps from Park West, Lincoln Park Zoo, the lakefront, and the dynamic Sedgwick and Armitage corridor. This prime pocket speaks strong fundamentals, affluent demographics, and strong consistent demand. Level 1 and 2 are occupied by a credit commercial tenant (Baird and Warner) under a corporate-guaranteed lease with CAM pass throughs, and annual escalations thru May 2030. Level 3 and 4 offer a 3 bedroom 2 bath bathroom residential penthouse duplex with multiple roof decks, sweeping urban views leased through April 2027. Offers additional revenue or owner-occupant flexibility. The entire building has been comprehensively remodeled, with condo-quality finishes throughout and significant capital improvements, including expansive rear and rooftop decks completed in 2023. Bookended by 4 car parking and RM-5 Zoning, this property supports numerous investment objectives including but not limited to a solid buy hold, 1031 exchange, hybrid user, or future adaptive reuse. Exceptional cash flow, extraordinary location, and diverse opportunity. See…