542-566 W Roosevelt Rd — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Chicago, IL 60607

Description

24,558 unanchored strip center & billboard. Value-add opportunity through lease-up, marking rents to market, and billboard spin-off. The sole vacancy is the asset's most desirable suite, a 2,221 square foot end cap at the corner of Roosevelt and Clinton. It was formerly occupied by AT&T who is paying rent through January 2025. - More than $1.5M spent in recent years to revitalize the asset - Value-add through lease up, potential to spin off billboard, potential to acquire the 2 suites on western portion of the asset that are NAP - Well positioned in an active stretch of Chicago's South Loop - Close proximity to Interstate 90 - Customer specific parking on-site

Market Context

This retail in Chicago, IL is listed for sale. It has been on the market for 141 days. Compare it against other retail listings for sale in Chicago, IL — view the full market.

As of Q1 2026, the Chicago retail market showed average asking rents near $22.27/SF/yr, and cap rates around 8.2%. Source: multiple brokerage reports, Q1 2026.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 8.2% as of Q1 2026, per multiple brokerage reports.

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