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Walgreens-Anchored Center | Hyde Park
Under Contract

Walgreens-Anchored Center | Hyde Park

5036-5050 S. Cottage Grove Avenue
Chicago, Illinois


price: $4,600,000

gla: 23,645 SF

cap: 7.25%

lot: 2.00 Acres

built: 1989 / Renovated 2015

noi: $333,336

  • Irreplaceable Signalized Hard Corner Location | Superior Visibility and Three Points of Access for Easy Ingress/Egress
  • Anchored by Walgreens (“BBB” Investment Grade Credit) | 30-Year History of Occupancy at this Location | Strong Reported Store Sales
  • Majority of Tenants Including Walgreens (Representing 55 Percent of Center) Pay Below-Market Rent I Ability to Increase Rent as Leases Expire
  • Ideal Bay Depth of 70 Feet for Small Shops | Unit Size Ranging from 900 to 2,966 Square Feet | Perfect for a Variety of Users
  • Priced Below Replacement Cost | High Barriers to Entry with Limited New Construction | Strong Likelihood of Remaining 100 Percent Occupied
  • Property is Located in Designated Opportunity Zone | Potential to Offer New Investor Multiple Tax Benefits
  • Property Underwent Renovation in 2015 | New TPO Roof Installed in September 2016 with a Transferable Warranty Until 2036
  • Property is One Mile from University of Chicago Main Campus
  • Dense Area | Within Two Miles There is a Daytime Population of 128,070
  • Easily Accessible by the Metra Train Electric Line ($4.6 Million in Recent Station Improvements), CTA Train, Pace Bus and Lakeshore Drive
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Adrian Mendoza
First Vice President Investments

Tel: (630) 570-2163
Adrian.Mendoza@marcusmillichap.com

* Broker of Record: Steven Weinstock