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1101-1113 W Lawrence Ave
Chicago, IL 60640-5025
  • Asking Price: $1,339,000
  • Cap Rate: 7.75%
  • Property Type: Multi-Tenant
  • Status: Under Contract

Baum Realty Group has been exclusively retained to market for sale the ground floor commercial condos located at 1101-1113 W. Lawrence Avenue in Chicago, IL. The Offering consists of four (4) ground floor commercial condos totaling 11,726 SF and is anchored by Chase Bank. Chase Bank recently executed a 5-year lease extension and the remaining three spaces allow an investor or user to add significant value to the property. Situated on 0.26 Acres of land, the Chase Bank Retail Condo plus retail space is located in the heart of the Uptown Theater District. The development is located across the Aragon Ballroom, which welcomes 250,000 live music fans annually. Additionally, it is located next to the Chicago CTA Lawrence Red Line ‘L’ station which serves 975,400 riders annually. Chase Bank features 20 deeded parking spots for its customers which will be located within the new 84-unit apartment complex called "The Winnie", situated directly south of the subject property. In addition to the 16 residential units above (not part of offering), the Uptown neighborhood and Loyola University provide an excellent customer base for the ground floor commercial condos. In the next 12 months, more than 1,100 units will have been delivered to this neighborhood within a 24-month period, demonstrating the explosive growth to this up-in-coming neighborhood of Chicago. The property is directly adjacent to the Lawrence Red Line stop caters to a mass-transit customer base, providing significant foot traffic in front of the property. Starbucks is located on the other side of the tracks in addition to an array of local and national retailers and restaurants within the immediate area.