$ 1,275,000
11238 S Western Avenue Chicago, IL 60643
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$ 1,275,000
Est. payment /mo
New
11238 S Western Avenue Chicago, IL 60643
5,272 SqFt
UPDATED:
11/20/2024 04:10 PM
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 5,272 sqft
Price per Sqft $241
MLS Listing ID 12212315
Year Built 1964
Tax Year 2023
Lot Dimensions 25 X 125
Property Description
Positioned in the heart of Chicago's historic Beverly neighborhood, 11238 S Western Ave is a premier investment opportunity for savvy medical investors seeking stability, growth, and community impact. As part of the exclusive Western Medical Office Portfolio, this meticulously maintained 5,272-square-foot, two-story masonry building delivers both financial performance and strategic location. Anchored by well-established tenants-Life Source Pharmacy, Today's Dental Beverly, and Dr. Theodore James, MD-this property generates a robust (NOI) of 95,655.45 annually with an impressive 7.5 CAP rate. Its dividable layout, equipped with modern exam rooms, offices, and reception areas, offers flexibility for current and future healthcare providers, ensuring a consistent tenant base. Located on bustling Western Avenue, a primary commercial corridor, this property benefits from exceptional visibility and accessibility. The Beverly neighborhood is renowned for its strong residential base, rich cultural history, and growing commercial developments, creating a vibrant community for both tenants and visitors. Nearby access to major expressways, including I-57 and I-94, ensures seamless connectivity to downtown Chicago and surrounding suburbs. The 111th Street Metra Station, just minutes away, adds to the convenience, while Chicago Midway International Airport is only a 19-minute drive. The healthcare sector remains one of the most stable and rapidly growing industries, with increasing demand for outpatient services and community-based care. Medical office properties in Chicago, particularly in neighborhoods like Beverly, are highly sought after due to their consistent tenant base and essential role in the community. As part of the Western Medical Office Portfolio, this property represents a unique opportunity to invest in a proven market with a history of resilience and high returns. For investors, 11238 S Western Ave is more than a stable, income-producing asset-it's a key player in a thriving medical hub with long-term growth potential. The healthcare industry's shift towards outpatient services makes strategically located properties like this an indispensable part of any investment portfolio. With a Walk Score of 73, this "very walkable" property is surrounded by a mix of residential, retail, and cultural amenities, ensuring a steady flow of demand from tenants and the community. Invest in Beverly, invest in growth, and invest in a future-proof medical office market. As part of the Western Medical Office Portfolio, this property offers a unique opportunity to secure a foothold in one of Chicago's most dynamic sectors.
Location
State IL
County Cook
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Moses Hall • MoHall Commerical & Urban Development