- For Sale $1,150,000
- Property Type Retail
- Property Size 7,953 SF
- Lot Size 17,948 SF
- # of Floors 1
- Parking Spaces Avail. 10
- Property Tenancy Multi-Tenant
- Building Class A
- Year Built 2005
- Date Updated May 15, 2026
Description
WASHINGTON PARK RETAIL CENTER
101–115 E 51st St, Chicago, IL 60615
Executive Summary
Washington Park Retail Center presents a rare opportunity to acquire a stabilized, neighborhood-serving retail asset with strong in-place income and meaningful upside through lease-up. Strategically positioned at the signalized intersection of East 51st Street and South Michigan Avenue, the property benefits from consistent vehicular traffic, dense surrounding population, and proximity to major institutional and retail anchors.
Offered at $1,150,000, the asset consists of a 7,953 SF multi-tenant retail building situated on a 17,948 SF parcel, featuring 165 feet of frontage along 51st Street and dedicated on-site parking. The center is currently occupied by a diverse mix of service-oriented and food-based tenants, with one second-generation vacancy providing immediate value-add potential.
The property has demonstrated long-term tenant stability, with occupancy history dating back nearly two decades and leases extending through 2030. Combined with favorable B3-3 zoning and infrastructure conducive to food service uses, the asset is well-positioned for continued income growth and tenant demand
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Contacts
KW ONEChicago
Location
KW ONEChicago
