River North Gallery District Retail Redevelopment
Retail | 13,738 SqFt | Core, Urban Infill Location | Chicago’s River North Acquisition Opportunity
Marketing description
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the 757 N Orleans Street property located in Chicago, Illinois (“The Property”). The Property is currently 83% economically leased to Walgreens, which remains bound to its lease obligations despite ceasing operations at the location (“dark”). This creates an opportunity for the whole space to be leased (as the balance is vacant, formerly occupied by Bank of America and Verizon) and for the future landlord to receive a buyout from Walgreens (upon releasing the space) to relieve them of their continuing lease obligation.
Investment highlights
Flagship Core Retail Chicago Location
Core, Urban Infill Location in River North District at the Corner of Chicago & Orleans
Value-Add Opportunity Through Releasing the Retail Space
Walgreens Pays Annual Base Rent and Covers a Majority of Your CAM/Taxes/Insurance (Reimbursements) During Re-Tenant – They are Dark
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