Retail Investment

Shopping Center for Sale
Catylist Listing ID: 30663700
Property Subtypes: Neighborhood Center, Strip Center
Building Size (RSF): 15,251 SF
Gross Building Area: See Agent
Sale Price: $2,250,000
Unit Price: $147.53 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 8.28%
Last Updated: 2/24/2021

Overview / Comments

• Strong historical occupancy - Nearly 50% of the GLA have been tenants at the
center since it was built in 2003 and all have executed renewals
• Total Health Dental expanded, doubling their size and building out brand new
dental office space on the end cap; over $350,000 in improvements completed
at tenant’s cost show commitment to the center
• Low market vacancy and little competition in the immediate area
• Passive investment opportunity with no deferred maintenance
• Recent property improvements include: new roof and gutters, exterior painting
and parking lot resurfacing
• All tenants reimburse common area maintenance, real estate taxes and
insurance costs
• Essential businesses include dentist, chiropractic, and multiple carry-out/
delivery food providers

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Will
Tax ID/APN: 0701072040190000
Area Description: Located at the intersection of Eola Rd and Shiloh Dr at the entrance to Lakewood Valley subdivision. Just north of the property are several national retailers including McDonald’s, CVS, Dunkin Donuts, 7-11 and PNC Bank. Strong demographics with nearly 69,000 people living within three miles of the site.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,610 100,241 285,358
Median Age: 31.52 32.09 32.45
Households: 3,594 31,797 89,725

Contact

Photograph of Listing Agent

Christina Caton Kitchel

Caton Commercial CPIX Member
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