Catylist ID:
#30663700
| 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 |
Attachments & Media
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. |
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 |
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