Property details
Market Center, Great Lakes - Big Rivers Region
Property Description
Located in a thriving suburb of Chicago, a fully leased center with well known
tenants. Built in 1999, the attractive and well kept 20,620 square foot building is situated as an outlot to the entrance of a this center, which is anchored by Schnucks Supermarket (99+ midwest locations), Dicks Sporting Goods, Target, Best Buy
and PetSmart. This strong mix of complimentary retail draws heavy customer traffic to the subject property.
The Center is currently leased to Chicago Home Fitness (4,319 sf), American Mattress (4,081 sf), Mens
Wearhouse (5,159) and FedEx Kinkos (7,061 sf). FedEx Kinkos has recently exercised their first option period more than a
year early, demonstrating the strength of the location and success of the tenants located here. There are 155 parking spaces
available on the approximately 2.50 acre lot which allows for a convenient shopping experience for customers.
The center has excellent visibility, including a large pylon sign, and is ideally positioned on thr premier retail corridor with a strong mix of national and regional tenants. Directly across the street is a
power center anchored by Kohls, Bed Bath & Beyond, TJ Maxx, Petco, OfficeMax and Michaels. Other national retailers in the
trade area include Old Navy, Barnes & Noble, Hobby Lobby, Cost Plus, Home Depot, Wal-Mart Supercenter, Sams Club, Borders,
Linens N Things, Lowes Home Improvement, and many others.
This Center is currently being offered with attractive, non-recourse financing in place, featuring a below-market
interest rate of 5.875%, maturing in 2014. This allows an investor to eliminate any interest rate or financing uncertainty and
close escrow on this quality asset.
Currently 100% leased, the Center represents the very best in retail real estate investments: a visible, highlytrafficked
location in an established region, well maintained and attractive construction, a strong tenant mix, and offered with
assumable, non-recourse, below-market financing.
Images
Highlights
- Status:
- Available
- Price:
- $4,975,000
- PSF:
- $241
- Cap Rate:
- 7.24%
- Annual Rent:
- $360,363
- Rent Increases:
- None
Property Information
- Building Size:
- 20,620 sq.ft.
- Property Type:
- Mixed Use
- Industry Type:
- Miscellaneous
- Units/Spaces:
- 4
- Year Built:
- 1999
- Land Area:
- 2.50 acres
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.