Description

Marcus & Millichap is pleased to present the opportunity to acquire the fee simple interest in a value-add retail property located in Chicago’s vibrant Wrigleyville neighborhood. Situated at the prominent intersection of Clark Street, Sheffield Avenue, and Newport Avenue, the asset enjoys a highly visible location just steps from Wrigley Field and within one of the city’s most active entertainment districts. The property is currently 43% occupied and anchored by Al’s #1 Italian Beef, a long-standing tenant that has operated at the location for approximately 15 years and recently executed a new 15-year lease featuring annual rent escalations. The remaining 57% of the building is vacant, creating a significant value-add opportunity for investors. Leasing the available 1,870-square-foot space at market rents has the potential to substantially increase returns, while the existing tenancy provides stable in-place income and cash flow during the lease-up period. Positioned at a signalized three-way intersection, the property benefits from exceptional visibility, strong vehicle exposure, and substantial pedestrian traffic throughout the year. In addition to drawing millions of visitors annually for events at Wrigley Field, Wrigleyville remains a premier destination for dining, nightlife, and entertainment, attracting both local residents and tourists year-round. With its irreplaceable location, existing cash flow, and meaningful leasing upside, this offering represents a rare opportunity to acquire a strategically located retail asset with strong long-term growth potential.