3600 26Th StChicago, IL 60623

For Sale
$2,190,000

High-cap rate, mixed-use building, Little Village

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property, located at 3600 W 26th St, Chicago, IL 60623, presents a compelling investment opportunity. The 10,541 square foot building boasts a prime location on a high-grossing retail corridor, second only to Michigan Avenue. The property features a three-story structure with street-level retail space occupied by two long-term tenants: Cash America (corporate lease extending to 2029) and Boost Mobile (franchisee, over 10 years). Above the retail space are six fully occupied apartments, offering significant value-add potential with a range of finishes and individual furnaces (tenant-paid heat). The building sits on a 5,344 square foot lot, zoned B3-2. The property's strong financial performance is highlighted by a 9.79% cap rate and a Net Operating Income (NOI) of $214,352, based on a $2,190,000 asking price. Recent improvements include new tuckpointing on the north and west sides and three newly installed PTAC heating/cooling systems in a top-floor unit. The property is offered free and clear of existing financing, providing immediate ownership and control. This is a rare chance to acquire a well-maintained, mixed-use asset with stable commercial tenants and substantial upside potential in the residential component. The property's multi-tenant occupancy is currently at 100%, with a remaining lease term of 5 years for at least one tenant. The Cook County APN is 16-26-125-023.

Highlights

  • High-traffic corner location at a stoplight intersection in Little Village.
  • Prime retail location on Chicago's second-highest-grossing retail corridor.
  • Strong, stable commercial tenants: Cash America (lease to 2029) and Boost Mobile (10+ year lease).
  • Value-add opportunity: six fully occupied residential units with upside potential.
  • Well-maintained building with recent improvements including new tuckpointing and PTAC systems.

Property Details for 3600 26Th St

Property type
Other retail properties, Individual retail properties
Square Feet
10,541 SF
Buildings
1
Stories
3
Units
8

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.844421338883
Longitude
-87.714769588197
3600 26Th St, Chicago, Illinois

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3600 26Th St
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