Chicago Public Library
Retail | 8.16% Cap Rate | 7,725 Sq Ft
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the Garfield Ridge branch of the Chicago Public Library, a single tenant investment property located at 6348 S Archer Avenue in Chicago, Illinois (the “Property”). The Chicago Public Library has been at this location since 2005 and has recently extended its lease demonstrating commitment to the site and the location. The Chicago Public Library has 8+ years remaining on their 10-year extension. The lease includes attractive 3% annual rental increases.
The Garfield Ridge branch of the Chicago Public Library occupies a highly visible corner location at the signalized intersection of S Mulligan Avenue, W 55th Street, and S Archer Avenue, the area’s primary commercial and commuter corridor. The Property benefits from strong traffic counts, excellent frontage, and convenient access in a well-established commercial trade area. Surrounded by a mix of national and local retailers, restaurants, and service providers, the site draws from consistent daily consumer traffic generated by the surrounding commercial density and mature residential base. The Property also offers exceptional regional connectivity, with quick access to S Cicero Avenue (IL Route 50), S Harlem Avenue and Interstate 55, providing direct linkage to Downtown Chicago and the broader Chicagoland MSA. The site is positioned along the CTA bus line and is convenient to several train stations (Amtrak, CTA Orange Line and BNSF Metra Line).
Investment highlights
LEASE TERM: The Chicago Public Library has been at this location since 2005 and recently executed a 10-year lease extension demonstrating its commitment to the site and the market. The Chicago Public Library has 8+ years remaining on its lease.
ATTRACTIVE RENT INCREASES: The Lease calls for attractive 3% annual rental increases throughout the lease term.
STRONG TENANT: Chicago Public Library (CPL) is one of the largest public library systems in the United States, serving the residents of Chicago through a comprehensive network of more than 80 neighborhood branch locations and a central library. The library system is operated by the City of Chicago and funded primarily through public revenues, providing a level of financial stability that differs significantly from traditional private-sector tenants. As a municipal institution, Chicago Public Library benefits from the credit strength and long-term commitment of the City of Chicago, making it a highly dependable occupier with a mission-driven focus on maintaining continuous operations and community presence.
STRATEGIC RETAIL LOCATION: 6348 South Archer Avenue is situated in the Garfield Ridge community area on Chicago’s southwest side. The Property is well-located on a corner lot on South Archer Avenue, the primary commercial thoroughfare in Garfield Ridge and home to a number of national and local tenants that drive traffic to the area. Garfield Ridge is also home to Midway International Airport, which is located just minutes from the Property, and houses an “L” Station on the Chicago Transit Authority’s Orange Line, with service from the Loop to Garfield Ridge. EXCELLENT VISIBILITY & ACCESS: The Chicago Public Library offers excellent frontage, visibility and access at the intersection of S Archer Avenue, S Mulligan Avenue and W 55th Street. The Property offers a large parking lot at the rear of the building and is positioned along the CTA bus line.
TRAFFIC COUNTS: Over 25,200 vehicles pass the Property daily at the signalized intersection of S Archer Avenue & W 55th Street. Additionally, more than 45,000 vehicles pass through the nearby intersection of S Archer Avenue, W Archer Avenue and W 55th Street.
DEMOGRAPHICS: More than 153,600 people live within 3 miles of the Property with an average household income of $107,510. More than 590,000 people live within 5 miles of the Property with an average household income of $102,830. Additionally, there are more than 146,8 00 employees within 5 miles of the Property.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
