327 S. Plymouth Ct.

Property Overview

The subject investment opportunity is an office building in Chicago's Loop Neighborhood. The building consists of three (3) floors and a basement. Currently, the building is home to a ground-floor retail tenant, Plymouth Restaurant, and independent law firms in the offices above. The building also features a rooftop deck that is currently owned and operated by Plymouth restaurant, an affiliate of the building owner.

The building is approximately 10,000 Rentable Square Feet situated on 2,650 SF of land. The building was rehabbed in 2004 and features an elevator, fully built-out kitchen for the restaurant, steel staircase, and sprinkler system throughout. This is a unique opportunity for a new investor to come into a building that's already producing income and re-capture loss-to-lease revenue through filling current vacancies.

Highlights

  • Zoned DX-16
  • Value Add Opportunity in Office Lease-Up or Redevelopment
  • Prime Loop Location Within Walking Distance to Public Transportation
  • Three Floors with Basement & Rooftop Deck

Key Details

Asking Price
$3,500,000
Lot Size
2,650 SF
Building Size
10,400 SF
Year Built
1898
Pro Forma Cap Rate
7.4%