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$3,200,000
Est. payment /mo
20,438 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 20,438 sqft
Price per Sqft $156
MLS Listing ID 12439561
Year Built 2002
Annual Tax Amount $50,440
Tax Year 2023
Lot Dimensions 30X150
Property Sub-Type Mixed Use
Property Description
Strauss Realty, Ltd. is pleased to exclusively present 2010-2012 S. Wabash Avenue, a prime 20,438 SF mixed-use property located in the heart of Chicago's dynamic South Loop. This fully-occupied asset includes 6 residential apartments, along with two retail spaces totaling 9,581 RSF (featuring a 4,335 SF street-level storefront and an additional 5,246 SF of usable basement retail). An 8-car garage provides added convenience and tenant appeal. Offered at a 6.64% cap rate based on in-place NOI of $212,589, this stabilized property delivers strong cash flow with zero current vacancy. The renovated residential units include granite countertops, stainless steel appliances, and in-unit laundry. Units 2F, 3F, and 4F were updated in 2023 and the remaining units were renovated in 2017. Recent capital improvements and a balanced unit mix make for a low-maintenance, high-performing asset. Located near Wintrust Arena, McCormick Place, Essex on the Park, and the Museum Campus, the property benefits from exceptional visibility and accessibility. Within a one-mile radius of five CTA train lines and major bus routes - and under 10 miles to both O'Hare and Midway - this South Loop location continues to see strong development and demand. 2010-2012 S. Wabash Avenue offers investors a rare opportunity to acquire a fully-leased, income-producing asset in a premier urban corridor with long-term growth potential.
Location
State IL
County Cook
Area Chi - Near South Side
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Mixed Use
Structure Type Brick
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Listed by Craig Wolf of Strauss Realty Ltd