Lit Café for Sale in Chicago, IL
Chicago, IL
Key Investment Metrics
Price
$804,705
Cap Rate
8.5%
Net Operating Income
$68,400
Building Size
1800 SF
Land Area
0.31 Acres
Remaining Term
5 years
Lease Expiration
07/31/2031
Lease Term
5 years
Lease Commencement
07/31/2026
Lease Type
NNN
Tenant Credit
No Credit Rating
Year Built
1999
Occupancy
100%
Tenancy
Single
Rent Increases
3% annual rent escalations
Property overview
Lit Café in Chicago
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 1,800 SF
- Land area
- 0.31 acres
- Year built
- 1999
- Lease type
- NNN
- Lease expiration
- 07/31/2031
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.