Price cut −2%Open Sun
$3,775,000
6.9% cap · 14,260 sq ft RBA · Class B
2871 N Ashland Ave
Chicago, IL 60618
Listed 6 months ago$265/sq ft
01 / 05
For SaleOffice
$4,205,000
5752 N Milwaukee Ave
Hyde Park · Chicago, IL 60610
$180/sq ft27 days on market1.3K views67 saves
Key facts
- Interior
- 23,400 sq ft
- Lot
- 1.82 acres
- Year built
- 2016
- Property type
- Office
- Price / sq ft
- $180/sq ft
- Annual taxes
- $83,260
- Days on market
- 27
Getting around
Walk Score81
Very Walkable
Transit Score77
Excellent Transit
Bike Score75
Very Bikeable
About this property
Institutional-quality office building on N Milwaukee Ave, Class A, 23,400 square feet. 4 tenants spread the credit risk, and the Modified Gross structure limits landlord exposure. Full offering memorandum and T-12 available under NDA.
Investment summary
Investment summary
Cap rate
7.00%
Net operating income ÷ price
Net operating income
$294,350
Annual, after operating expenses
Cash-on-cash
+4.0%
$50,306 annual cash flow on $1,261,500 equity
Occupancy79%
18,486 sq ft leased of 23,400 sq ft
- Tenants
- 4
- Rentable area
- 23,400 sq ft
- Price / sq ft
- $180/sq ft
- WALE
- 5.1 yrs
- Lease type
- Modified Gross
- Building class
- Class A
- Zoning
- MU-4
- Parking
- 74 spaces
Cash-on-cash assumes 30% equity, a 6.75% fixed rate and 25-year amortisation — $244,044 of annual debt service. Illustrative only; underwrite with the actual rent roll and operating statements.
Features & amenities
Features & finishes
Interior
- Bike Room & Showers
Systems & Efficiency
- Sprinkler System
Parking & Access
- Structured Parking
- Freight Elevator
Highlights
- LEED Gold Certified
Price history
Every listing event recorded for this property.
- Listed
- Sold
| Date | Event | Price |
|---|---|---|
| 2020-04-14 | Sold | $3,284,000 |
| 2026-06-28 | Listed | $4,205,000 |
Location
Hyde Park, Chicago — Cook County
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Approximate location · Hyde Park
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Estimated monthly
$29,207/mo
- Principal & interest72%$21,042
- Property tax24%$6,938
- Home insurance4%$1,227
An estimate, not a quote. Insurance is seeded at 0.35% of the purchase price and excludes mortgage insurance, which most lenders require below 20% down.
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Loan amount $3,364,000 · 30 yr · 6.40%
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