873 N Larrabee St
Chicago, IL 60610 Near North Side

• Unit Size: 1,634 SF
• Condo Use: Office/Retail
• Price: $415,000 USD
• Sale Type: Investment or Owner User
• Price/SF: $253.98 USD

Description

1634 SF Ground Floor Retail/Medical/Office Space on N Larrabee Street. It has 50 Feet of street frontage with large front glass windows and two entrances. Zoning is B3-5 which allows many uses.  The space has two bathrooms, a small Kitchen/Office area/Sink  area. Tall 14-foot ceilings with excellent lighting. It has Stained Concrete Floors.  The space has its own gas forced air heat/Air Conditioning system, an auxiliary wall mounted cooling unit by the prep area, and. an 10" powered exhaust fan with ductwork running to the exterior. Garbage removal is included in the CAM charges. 
The space is located in the River North neighborhood. River North is an affluent area known for its Art Galleries, Clubs, and Restaurants. The site is surrounded by several blocks of larger, higher end condominium buildings. The 18th District police Station is located two blocks North on Larrabee Street and the constant flow of police vehicles traveling up and down Larrabee Street helps make Larrabee one of the safer streets. Construction is beginning this year on Chicago's new Casino and Entertainment Complex located one block West on Chicago Avenue, across the river, on the Chicago Tribune Property. 
The space is potentially a great location for a Convenience Store, a Pet Supply or Services location, a Commercial Office, Dentist Office, Medical Office, Brokers Office, Acupuncture or Holistic Clinic, or a Specialty Retail Store. The space does NOT have a black iron exhaust hood for a fry grill and the building configuration CANNOT accommodate one.

Sale Notes

The rent was $18/SF triple net, which comes out to $4,657.15/Month Gross. The $4,583/monthly Gross Rent breaks down as follows: $2,451/Month actual rent for the space, $284.15/Month CAM charges, and $1,922/Month property taxes. This would drive a CAP of about 7