1619 S. Michigan Ave, Chicago chicago (Chicago, Illinois, US - 60616) Built

$59,900 USD
Opportunity abounds!

Independent

Ronald R. Stewart Ronald R. Stewart 708-960-4844 (Office) 708-870-2920 (Cell) 708-799-1844 (Fax) Request More Info

  • Heavy traffic area
  • Type: Commercial
  • Style: 3 Story
  • MLS #: 09702893

Description

Illinois listings are all through Hoff Realtors, Orland Park, IL ; Convenience store in hot downtown south side Chicago! High density daytime and night population. Hundreds of additional rental units going up within proximity of this location to add to the already busy office and other local retail traffic. Right next to the museum campus area and just south of the loop, this site is a money maker! Owner had a partner running the store and their partnership dissolution creates your opportunity! 3 yrs left on the original term of the lease with Two 5 year options. Each year has a 3% rent bump. Options mirror original terms. Tenant must give notice not less than 210 days of expiration to exercise the option. Current rent is $3,857 per month.
Lotto brings in around $50k per year in commissions, ATM $800.00 per month, Inventory now around $25,000 but there is room to add to that to boost sales. Due to internal issues, the opportunity to maximize sales through identifying product that will turn over, arranging and adding shelf space has not been exercised. Therein lies the opportunity to grow sales with demand that may be untapped.
P2#250923054
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Information is deemed to be correct but not guaranteed.