Contacts

Charles Kirkwood

Coldwell Banker Real Estate Group

Property Details

Property Type Office
Additional Rent Contact for pricing
# of Floors 22
Date Updated Dec 21, 2024

Don't miss this 100% leased investment opportunity in the iconic and historic Garland building. This is a great 1031 exchange opportunity. The portfolio consists of 3 units that are diversified under 2 separate leases/tenants. This is an armchair investment with maintenance taken care of by the HOA and by the tenants. The portfolio is positioned to trade at a 7.27% cap rate at the list price. With predetermined rent escalations built into the leases the return will increase over time. The tenants are well established dentistry professionals with significant lease term remaining. One of the tenants has a lease in place until 2033 and the other is in place until 2028. Both leases feature options to extend. This is a premier location in the heart of Chicago's Loop. Close to everything including Michigan Avenue, restaurants, retail, Millenium Park and the lakefront. There is valet parking available for a fee. Call for a copy of the rent roll. See MLS #11955091 for Units 1114-1116 or MLS #11954596 for Units 810, 2102, 2103, 1114 and 1116 combined.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

Cooling: Central A/C
Special Market: Luxury Properties

Getting around

99/100
Walk Score ®
100/100
Transit Score ®
81/100
Bike Score ®

Powered by Walk Score ®

City Chicago, IL
Neighborhood Downtown Chicago
Zip Code 60602
Market Chicago

Points of Interest

Millennium Station

0.08 miles
Lake

0.13 miles
State/Lake

0.19 miles
Adams/Wabash

0.27 miles
Harold Washington Library-State/Van Buren

0.48 miles
Quincy

0.53 miles
Merchandise Mart

0.56 miles
Grand

0.59 miles
Clinton

0.82 miles
Chicago

1.04 miles

Tesla Supercharger

0.33 miles
ChargePoint

0.61 miles
BP

0.76 miles
Shell

1.10 miles
Blink

1.11 miles
Volta

1.12 miles
Citgo

1.36 miles
Blink ParkChip Garage - 1035 Van Buren

1.49 miles
Electrify America

1.62 miles
eVgo

1.64 miles

Grant Park North Garage

0.12 miles
60 East Lake Self Park

0.17 miles
Prudential Plaza

0.19 miles
Hotel Parking

0.21 miles
One East Wacker

0.22 miles
Theater District Self Park

0.22 miles
55 East Monroe Self Park

0.23 miles
Millennium Garage

0.24 miles
Government Center Self Park

0.28 miles
33 West Monroe

0.28 miles

Manilow Suites at Millennium Park Plaza

0.12 miles
Arlo Chicago

0.12 miles
Chicago Athletic Association Hotel

0.13 miles
Staypineapple, An Iconic Hotel, The Loop

0.13 miles
Silversmith Hotel Chicago Downtown

0.14 miles
The Marquee at Block 37

0.16 miles
University Club of Chicago

0.18 miles
Virgin Hotels Chicago

0.18 miles
Cambria Chicago Loop - Theatre District

0.18 miles
The Wit Hotel

0.20 miles

Macy's

0.07 miles
Burlington

0.09 miles
Ross

0.09 miles
TJ Maxx

0.10 miles
Millennium Station/Pedway

0.12 miles
Target

0.14 miles
Block 37 Shops

0.17 miles
Saks Off 5th

0.17 miles
Bockwinkel's

0.30 miles
Mariano's Fresh Market

0.37 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.