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Storefront Retail Office Condo For Sale • 4,900 SF
| Name | Condo Use | Size | Price | Details |
|---|---|---|---|---|
| 1st Floor - Unit 114-120 | Retail | 4,900 SF | $2,900,000 USD | |
Sale NotesCBRE presents an opportunity to acquire the 100% fee-simple interest in 114-120 N. Halsted Street, a fully leased urban infill retail investment in Chicago’s Fulton Market / West Loop neighborhood. This ±4,900 sq ft, three-tenant commercial condo, steps from Randolph Street, is leased to Aqua Wine and Spirits, Love You Nail Studio, and Healthy Zu Spa. It features a 5-year weighted average lease term and 2.5-3% annual rent increases. The property benefits from a prime location in Chicago’s robust retail corridor, home to corporate giants like Google and McDonald’s, numerous acclaimed restaurants, and hotels. Fulton Market / West Loop is experiencing significant expansion with over 10,000 new residential units and 5 million sq ft of office/life science space proposed or under construction, ensuring continued demand. |
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Offered is a 100 percent fee simple interest in a fully leased urban infill retail condo on the eastern edge of Chicago’s Fulton Market and West Loop. The asset comprises three first-floor storefronts leased to Aqua Wine & Spirits, Love You Nail Studio, and Healthy Zu Spa, a resilient, service-oriented lineup designed to capture daily neighborhood demand. Leases are structured on NNN terms with annual increases of approximately 2.5 to 3 percent and a weighted average lease term of 5.2 years, supporting durable, predictable cash flow. The offering shows in-place NOI of $219,026 and a 7.55 percent cap rate at the $2,900,000 asking price, with average tenant tenure of roughly 11 years. The location places the property steps from Randolph Street’s Restaurant Row and within walking distance to employers such as Google and McDonald’s. Transit access is excellent with the Morgan CTA Green and Pink Line station nearby, CTA bus routes along Halsted and Madison, and immediate connectivity to I-90/94 via Ogden Avenue. The surrounding trade area features strong demographics, significant residential growth, and a large daytime employee base that sustains all-day traffic for neighborhood retailers and services. Zoning is DX-5 and 2024 real estate taxes are reported at $70,679. This stabilized, low-management retail condo presents investors with reliable income today and embedded rent growth in Chicago’s premier live-work-play district. This information is provided for marketing purposes only and is not intended to be legal advice.
| 100 percent occupied, NNN structure across all suites with scheduled annual rent escalations that enhance cash flow over time. |
| 5.2-year weighted average lease term and approximately 11-year average tenant tenure support income stability. |
| Service-heavy, e-commerce-resistant tenancy aligns with neighborhood demand near Randolph Street’s Restaurant Row. |
| Exceptional access to transit, including the Morgan CTA station and I-90/94, expanding the customer and employee catchment. |
| Strong urban fundamentals with robust demographics and proximity to major employers that drive consistent foot traffic. |
| Offered at a reported in-place cap rate of 7.55 percent on NOI of $219,026 at a $2,900,000 ask. |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Chicago Ogilvie Transportation Center (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific Northwest Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific West Line - Northeast Illinois Regional Commuter Railroad (Metra)) | 1 min | 9 min | 0.5 mi |
| Chicago Union Station (Burlington Northern-Santa Fe Railway Line - Northeast Illinois Regional Commuter Railroad (Metra), Heritage Corridor Line - Northeast Illinois Regional Commuter Railroad (Metra), Milwaukee District North Line - Northeast Illinois Regional Commuter Railroad (Metra), Milwaukee District West Line - Northeast Illinois Regional Commuter Railroad (Metra), North Central Service - Northeast Illinois Regional Commuter Railroad (Metra), SouthWest Service - Northeast Illinois Regional Commuter Railroad (Metra)) | 3 min | 14 min | 0.7 mi |
| Transit/Subway | Drive | Walk | Distance |
| Chicago Ogilvie Transportation Center (Union Pacific North Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific Northwest Line - Northeast Illinois Regional Commuter Railroad (Metra), Union Pacific West Line - Northeast Illinois Regional Commuter Railroad (Metra)) | 1 min | 8 min | 0.4 mi |
| Clinton Station (Green, Pink Lines) (Green Line - Chicago Transit Authority "L" Trains (The "L"), Pink Line - Chicago Transit Authority "L" Trains (The "L")) | 1 min | 9 min | 0.5 mi |
| Grand Avenue Station (Blue Line) (Blue Line - Chicago Transit Authority "L" Trains (The "L")) | 1 min | 10 min | 0.5 mi |
| UIC-Halsted Station (Blue Line - Chicago Transit Authority "L" Trains (The "L")) | 5 min | 13 min | 0.7 mi |
| Chicago Union Station (Burlington Northern-Santa Fe Railway Line - Northeast Illinois Regional Commuter Railroad (Metra), Heritage Corridor Line - Northeast Illinois Regional Commuter Railroad (Metra), Milwaukee District North Line - Northeast Illinois Regional Commuter Railroad (Metra), Milwaukee District West Line - Northeast Illinois Regional Commuter Railroad (Metra), North Central Service - Northeast Illinois Regional Commuter Railroad (Metra), SouthWest Service - Northeast Illinois Regional Commuter Railroad (Metra)) | 2 min | 14 min | 0.7 mi |
| Airport | Drive | Walk | Distance |
| Chicago Midway International | 22 min | - | 10.9 mi |
| Chicago O'Hare International | 50 min | - | 20.3 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Type: | Covered |
| Included in Rent: | Yes |
Dominic Soltero
CBRE
Dominic Soltero
CBRE