114 North Halsted - 3 Contiguous NNN Retail Condos
Sticky Neighborhood Tenants surrounded by New Residents
Marketing description
CBRE presents an opportunity to acquire the 100% fee-simple interest in 114-120 N. Halsted Street, a fully leased urban infill retail investment in Chicago’s Fulton Market / West Loop neighborhood. This ±4,900 sq ft, three-tenant commercial condo, steps from Randolph Street, is leased to Aqua Wine and Spirits, Love You Nail Studio, and Healthy Zu Spa. It features a 5-year weighted average lease term and 2.5-3% annual rent increases.
The property benefits from a prime location in Chicago’s robust retail corridor, home to corporate giants like Google and McDonald’s, numerous acclaimed restaurants, and hotels. Fulton Market / West Loop is experiencing significant expansion with over 10,000 new residential units and 5 million sq ft of office/life science space proposed or under construction, ensuring continued demand.
Investment highlights
- High Quality Retail Nnn Condo + 5-year Walt This Prime Property Features Three Adjacent, First-floor Retail Spaces, Anchored by E-commerce Resistant Service Tenants (Love You Nail Studio, Healthy Zu Spa) and a High-demand Boutique Liquor Store (Aqua Wine and Spirits). Boasting a 5-year Weighted Average Lease Term (Walt), It Offers Exceptional Tenant Stability in an Undersupplied Market. Leases Generate an Average of $45/sq Ft With Robust Annual Increases of 2.5%-3%, Ensuring Market-aligned Returns.
- Chicago’s Growing Neighborhood – Fulton Market Located in Chicago’s Red-hot Fulton Market/west Loop, the Property Benefits From a Decade of Explosive Growth, Attracting Corporate Giants Like Google, Mcdonald’s, and Dyson. Steps From Randolph Street’s “restaurant Row” (E.g., Girl and the Goat, Nobu), It’s Surrounded by Trendy Retail, Prominent Hotels (Soho House, Nobu Hotel), and Vibrant Nightlife, Embodying a Premier Live, Work, Play Environment.
- Exceptional Neighborhood Drivers Ongoing Development in Fulton Market/west Loop, With Over 10,000 Residential Units and 5 Million Sq Ft of Office Space Proposed or Under Construction, Ensures Continued Urban Revitalization, Business Attraction, and Economic Growth, Further Boosting Demand for the Property.
- Fantastic Access to Public Transit the Property Offers Exceptional Connectivity, Just 0.3 Miles From the Morgan ‘l’ Station (Green/pink Lines), Steps From Cta Bus Routes #8 and #20, and One Block From I-90/94.
- Great Domographics Invest in Chicago’s Thriving Fulton Market/west Loop, a Market Defined by Dynamic Growth and Strong Investor Appeal. a 15.3% Population Increase Since 2020 Has Driven the Resident Count to 70,676, Supported by an Impressive Average Household Income of 195,936 Within 1 Mile. This Affluent, High-spending Consumer Base, Coupled With 351,579 Local Employees, Ensures Sustained Demand Across All Real Estate Sectors.
- 3 Contiguous Nnn Retail Condo Units
- Average Tenant Tenure is 11.01 Years With 5.2 Years of Walt
- Centrally Located on the Eastern Edge of Fulton Market
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