Walter E Smithe - Chicago, IL

2009 N Clybourn Ave Chicago , IL 60614

Walter E Smithe - Chicago, IL - retail for sale

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Overview



Retail property for sale on busy Clybourn Avenue and occupied by Walter E. Smith, a family-owned and operated local furniture business with four generations of experience. Located in in a heavy retail area that serves affluent Lincoln Park and the Bucktown/Wicker Park communities, with an exceptionally dense population within 1 mile of the asset. In addition, Lincoln Yards, a 74-acre mixed-use development is slated to begin construction in the very near future, and the anticipated development will attract more traffic to the area and raise the value of neighboring, existing retail. The tenant’s high-profile and the area’s potential for growth make this a unique investment opportunity.

Investment highlights


  • Property features an NNN lease structure with 10 years remaining
  • Rental increases every 5 years
  • Limited landlord responsibilities
  • A new, 74-acre mixed-use development is set to begin construction soon, bringing in an even larger consumer base
General
Property type Retail
Property subtype Single tenant/Standalone
Tenure type Sale/Purchase
Property address 2009 N Clybourn Ave, Chicago, IL 60614-4003
Building size 9,794  ft2
Year built 1939
Financial
Price Confidential
Cap rate Confidential
Current NOI $315,000.00
Lease
Tenant's name WALTER E. SMITHE FURNITURE, Incorporated
Lease type NNN
Annual rent $315,000.00
Lease expiration date 01/31/2030
Remaining term 10.4Yrs

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