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118 N Canal StChicago, IL 60661
MetraMarket
Asset ClassRetail
overview of deal

Overview

This offering represents a unique value-add, transit-oriented retail opportunity in Chicago’s urban core. The MetraMarket comprises a leasehold interest in the 65,980 square foot street-level retail center that is 65% leased. The lease-up of the property to a stabilized occupancy rate will provide an investor with a significant increase in cash flow/returns. The Property surrounds the commuter concourse of the Ogilvie Transportation Center, Chicago’s primary commuter rail station, centered along West Randolph Street, between North Clinton Street and North Canal Street in the West Loop. The MetraMarket was developed by the current owner in 2009 and is based upon a 90-year ground lease with the Commuter Rail Division of the Regional Transportation Authority with a Sep 30, 2098 expiration date.

 

 

 

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Investment Highlights

  • Value-add opportunity (65% leased)
  • Attractive real estate tax rate of $2.54 PSF
  • Transit-oriented development: CTA elevated trains and commuter rail lines
  • Flexible tenant spaces ranging from 0.7% to 22.7% of area
  • Diverse tenant rent mix
  • Excellent rail and arterial/regional road access and bike lanes
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118 N Canal StChicago, IL 60661

Capital Markets Group

Art BurrowsSenior Vice President(630) 693 0675aburrow@hiffman.com
Dan HiffmanVice President(630) 965 2712dan@hiffman.com

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Listing provided by Revere CRE