INVESTMENT OFFERING
SAB Capital is pleased to present Compass in Chicago, IL, a premier property located in the heart of the Magnificent Mile neighborhood. In 2024, Compass committed to a brand-new 7-year lease, extending the primary term through May 2031. The lease features annual escalations of 3% and includes two 5-year renewal options, providing long-term stability. The property offers 3,979 square feet of rentable building area on a 0.61-acre parcel along East Erie Street. Its prime location boasts excellent fundamentals, situated near two renowned educational institutions: Loyola University Chicago and the School of the Art Institute of Chicago. This strategic positioning ensures consistent foot traffic and strong market appeal, making it an exceptional investment opportunity.
- Luxury Condominium in Chicago, IL | Prime Magnificent Mile Location
- Indoor Parking Garage | 6 Spaces Included
- Passive Investment Opportunity | Net Lease Structure With Limited Landlord Responsibilities
- Core Urban Demographics | Over 134,392 Residents in 1 Mile
- High Growth Area | 3-Mile Population Has Increased 37% Since 2010
- Structured Hedge Against Inflation | 3% Annual Rent Escalations
- Highly Accessible Property | 4 Blocks From Grand Street (“Red Line”) Subway Station
- Strong Location Fundamentals | Magnificent Mile is Considered One of the Premier Chicago Neighborhoods Known for its Art Culture, Nightlife, and Flagship Luxury Stores
Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
---|---|---|---|---|---|
Compass | $3,000,000 | 7.05% | NN | 3979 | Available |