6943 N Western

Investment Overview

KW Commercial is excited to offer the unique redevelopment opportunity located at 6943 N. Western Ave. in Chicago's vibrant West District neighborhood. This property spans 9,975 square feet and is zoned C1-2, providing various commercial development possibilities.

Property Details:

Location: 6943 N. Western Ave. is situated in a bustling commercial corridor, offering great visibility and accessibility. The surrounding neighborhood is a blend of residential and commercial spaces, ensuring a steady flow of potential clients and customers.

Zoning: The C1-2 zoning allows for a diverse range of potential business uses, making the site versatile for various development visions.

Land Area: The property has 9,975 square feet of prime land, offering ample space for creative redevelopment projects.

Cell Tower Lease:

Lease Terms: The cell tower lease, located on the southeast portion of the property, provides a reliable revenue stream. It began in January 1997 and was renewed in May 2015 for 28 years. As of June 2023, the lease has 20 years remaining, ensuring a stable and long-term source of income.

Current Rent: The current annual rent is $39,675. According to the lease terms, the rent is upgraded every five years, with the next increase scheduled for June 2028. At that point, the rent will increase to $45,626 per year, providing a consistent and growing income for the new owner.

Investment Opportunity:

Land Purchase Price: The property is available for a competitive price of $900,000, offering significant potential for a high return on investment through strategic redevelopment.

Cell Tower Lease Purchase Price: The cell tower lease can be acquired separately for an additional $900,000. This allows investors to secure an immediate revenue stream with predictable increases in the future.

Overall, 6943 N. Western Ave. is a prime investment opportunity for savvy developers and investors. It offers versatility, a strategic location, and a consistent source of revenue through the existing cell tower lease.

Highlights

Prime Redevelopment Opportunity: The 6943 N. Western Ave. property is ideally situated in Chicago's vibrant West District neighborhood, offering nearly 10,000 square feet of prime land with C1-2 zoning. This allows for diverse commercial redevelopment possibilities.

Long-Term Cell Tower Lease Income: The existing cell tower lease provides consistent annual revenue of $39,675, with upgrades every five years. The next increase is scheduled for June 2028 to $45,626 per year, ensuring a predictable, long-term income stream for the new owner.

Stable Lease Terms: The cell tower lease, which was renewed in 2015, has 20 years remaining, providing security and peace of mind for investors seeking steady cash flow.

Competitive Pricing: With a land purchase price of $900,000 and the cell tower lease available for an additional $900,000, this investment offers significant potential returns.

High Visibility Location: The property benefits from high visibility and accessibility, situated in a bustling commercial corridor. This makes it a prime location for businesses looking to capture local and regional traffic.

Zoning Flexibility: The C1-2 zoning allows for a wide array of commercial uses, providing flexibility for creative developers and investors to maximize the property's potential.

Growth-Oriented Neighborhood: The surrounding area combines commercial and residential developments, attracting a diverse customer base and ensuring the continued growth of businesses in this locale.