Two Leased Car Dealerships with 800' of Frontage
The Details
- Portfolio of two car dealership
- 100% leased portfolio
- 53,800 SF two story showroom plus 2,000 SF basement
- 5,500 SF used car dealership
- Three additional fenced lots
- Includes 3 contiguous city blocks with a total of 800’ of frontage
- Potential redevelop portions of site
- Part of highly trafficked corridor
- Est. 2019 NOI: $571,881
- Total Land Area: 3.84 acres
- Traffic Count: 27,700 cars daily
- Zoning: C2-1
- Part of Belmont/Cicero TIF
A portfolio of two leased car dealerships at a stoplit corner is available for sale. The dealerships are all located along busy Cicero Ave. in Chicago’s Belmont Craigin neighborhood. The portfolio includes a two story, 53,800 square foot dealership leased to City Mazda. This building includes a showroom space, an auto repair area plus a 2,000 square foot basement. City Mazda also has two fenced lot areas with frontage on Cicero. There is a 5,500 square foot used car dealership at 3250 N Cicero that is leased to Millennium Auto Sales on a full block parcel. In addition to the dealership buildings, there are three fenced and secured lots leased by these tenants. The portfolio has strong in-place income and includes the potential to redevelop all of the sites. The sites can also potentially be rezoned.
The Belmont Cragin community in Chicago has benefited from steady growth in population and renewed investment. Local businesses enjoy a strong residential consumer base, great public transportation, and quick access to the Kennedy Expressway.
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