For Sale - Prime User/Developer Opportunity with Upside Potential
The Details
- 10,000 SF two-story retail/office building
- 6,000 SF ground floor retail space, currently divided into two spaces
- 4,000 SF second floor office space - One ground floor space leased to long-term tenant with a 3-year lease
- Possibility to redevelop second floor for residential
- 50’ of frontage on Lawrence Ave.
- Close proximity to public transportation and I-90/I-94 expressway
- Nearby attractions: Northeastern University, North Park University, Swedish Covenant Hospital, Walgreens, Mariano’s, Family
- Dollar, numerous restaurants and shops
- Traffic count: 20,704 vehicles daily
- Lot size: is 50’ x 125’
- Zoning: B1-2
A 10,000 square foot, two-story retail/office storefront property situated on heavily-trafficked Lawrence Avenue is for sale. The ground floor of the property is divided into two units. Each unit is improved with retail and warehouse space and includes an overhead door, which allows for indoor parking. The second retail space is currently in process of being leased by a non-profit. The second floor is partially updated and could be used as an office or converted into residential use. Great frontage on a busy thoroughfare and excellent pedestrian traffic make this offering perfect for a user, developer or investor.
The subject property is located on Lawrence Avenue in the Albany Park area of the Northwest side of Chicago. This location is one of the prime commercial arteries with a recent surge in development in the area as several older properties have been razed and new mid-rise multi-family structures have been constructed.