Rare Opportunity to Purchase Freestanding Building with Parking in Chicago's Core
The subject property is comprised of a 10,800 square foot building with an additional 2,000 square foot basement and an adjacent 15 space parking lot. The site surrounded by over 235,000 people in just two miles. This is a rare commodity to become available in the densely populated urban core of Chicago.
Prime Location Amidst Gentrifying Neighborhood
Situated along Lincoln Avenue, one of five major diagonal arterials on the north side of Chicago, this property is in a prominent position to capture customer traffic. It is located in the up and coming neighborhood of Lincoln Square, whose gentrification began over a decade ago and has increased in recent years.
Significantly Below Market Rent
The tenant is paying $9.81 Net per square foot, which is below the market by close to 50%. This feature lends to the extremely high likelihood that Dollar General will continue its tenancy at the site, or the that the future cash flow of this property will be greatly enhanced.
Leading National Dollar Store
Dollar General is the largest small-box discount retailer with over 11,500 stores nationwide. The store carries both name brand and generic merchandise at everyday low prices.
Real Estate for Generations
With its fantastic location, market position and demographic makeup, this site will be in high demand for the foreseeable future. Additionally, the easily replaced or increased rent, creates an excellent investment for decades.