Absolutely magnificent opportunity to own a 51 unit apartment building/hotel in the heart of the West Loop Gate. This was an office suites building that has been completely taken down to the brick, Timber Loft Building. Special attention has been accounted for, a completely furnished with warm modern feel as a class A Building. The building will be completely occupied by Sonder Hospitality mid to late February, 2023. The lease runs for 10 years with 2, 5-year options. 3% increases in rent year to year, compounding and perpetual. Unbelievable piece of property and exceptional lease with thriving multi national Hospitality Company, Sonder.
- Price:
- $18,681,854
- Bedrooms:
- 4
- Year Built:
- 1955
- Listing ID #:
- MRD11677156
- Street Address:
- 555 Jackson Blvd
- City:
- Chicago
- State:
- Illinois
- Postal Code:
- 60661
- County:
- Cook
- Community:
- Confidential Commercial Listings
- Listing Status:
- Active
- Listing Type:
- Multi Family 5+
- Stories:
- 7
- Year Built:
- 1955
- Annual Electric Expenses:
- 41000
- Annual Insurance Expenses:
- 40000
- Annual Trash Expenses:
- 12000
- Annual Water/Sewer Expenses:
- 20000
- Estimated Potential Income:
- 112868
- Gross Income:
- 1098000
- Net Operating Income:
- 1024462
- Operating Expense:
- 329954
- Days On Market:
- 190
- Originating Mls:
- Mred
- Property Taxes:
- $209,237
- Tax Year:
- 2021
- Parking Spaces:
- 16
- Unit 1 Total Bathrooms:
- 1
- Unit 1 Total Bedrooms:
- 1
- Unit 1 Type:
- Unit 1
- Unit 2 Total Bathrooms:
- 1
- Unit 2 Total Bedrooms:
- 1
- Unit 2 Type:
- Unit 2
- Unit 3 Total Bathrooms:
- 1
- Unit 3 Total Bedrooms:
- 2
- Unit 3 Type:
- Unit 3
- Unit 4 Type:
- Unit 4
- Unit 5 Type:
- Unit 5
- Unit 6 Type:
- Unit 6
- Unit 7 Type:
- Unit 7
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By: Michael Wencel with One Chicago Realty
