For the first time in 30 years, Matanky Realty Group is offering Bishop Plaza for sale. This 76,075 square foot retail and medical center is strategically located at 47th and Bishop in Chicago’s historic New City neighborhood. Anchored by national and regional tenants, the property presents a rare opportunity to acquire a stable, value-add asset in a federally designated Opportunity Zone.
price
INQUIRE
available sf
76,075 SF
Property highlights
- OCCUPANCY: 96% leased
- ANCHOR TENANTS: Burlington, CSL Plasma, America’s Best
- TENANT MIX: Includes USPS, UI Health, Little Caesars, Aviva Wholesale, and more
- RECENT IMPROVEMENTS: Roof and parking lot upgrades minimize near-term capital requirements.
- BELOW-MARKET RENTS: Upside potential through re-tenanting or renewal at higher market rates.
- ACCESSIBILITY: High traffic counts, CTA bus stop at the corner, and a walkability score of 78.
- TRADE AREA STRENGTH: 333,968 residents and 105,679 households within three miles.
- ZONING: PD 875
- CAP Rate: 7%
- NET OPERATING INCOME: $901,670.31
- LOT SIZE: 4.63 ACRES
OPPORTUNITY ZONE ADVANTAGE
As part of a federally designated Opportunity Zone, Bishop Plaza provides investors with potential capital gains tax benefits, enhancing long-term return profiles while supporting reinvestment in a revitalizing community.
Tenants
CONTACT
TERRI COX
C: 773-517-9720
JAMES MATANKY
O: 312-337-1001
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