5022- 5060 South State Street in Chicago, Illinois, a 34,000-square-foot medical office and retail building situated on 2.33 acres of land. The asset is located in Chicago's Bronzeville neighborhood, and consists of a 24,000-square foot two-story office building, and a 12,400-square foot single-story retail building. DaVita Dialysis, a Fortune 500 company, occupies the entire first floor of the office building. Sinai Medical Group and J & M Pharmacy occupy approximately 50 percent of the second floor. The other 6,000 square feet on the second floor is unoccupied, and is in rent-ready condition.
The one-story retail building is fully occupied and has many long-term tenants including, Third Ward Alder-manic office, Powers and Sons Construction, Eco-Site Cell Tower, a nail salon, a beauty supply store, and a beauty salon. There is ample parking for the thriving retail businesses.
Four miles south of Chicago's Central Business District, public transportation is easily accessible through Chicago Transit Authoritys (CTA) red and green line trains, Interstate 94 (1-94), and approximately nine miles east of Midway International Airport.
The property is currently assessed at $5,996,487, and a successful appeal could result in substantial savings. Additionally, there is an opportunity to lease-up the remaining 2nd floor space and potentially out lots to increase cash flow.
