1000-1058 E 162nd St - Storefront FOR SALE


South Holland, IL 60473
$4,000,000 USD
630-570-2260
1000-1058 E 162nd St, South Holland, IL for Sale
$4,000,000 USD
Storefront - FOR SALE
1/9
null | 8.45% Cap Rate

1000-1058 E 162nd St
South Holland, IL 60473


HIGHLIGHTS

  • 94 Percent Occupied Retail Center Anchored by Family Dollar | Strong Mix of National and Local Tenants
  • Established Tenants with Long Operating Histories | Cunis Candies (Since 2001), Subway (Since 1990), and Family Dollar (Since 2014)
  • Eight Tenants have Scheduled Rental Increases In-Place
  • Modest, Replaceable Average Rent of $11.71 per Square Foot | Potential for Future Rent Growth
  • Embedded Net Operable Income Growth with Multiple Tenants Paying Below Market Rent | Potential to Substantially Increase Base Rent Through Re-Leasing
  • 0.25 Miles from Interstate 94 which Sees 145,700 Vehicles per Day

OVERVIEW

Pacesetter Plaza is a 94% occupied, Family Dollar anchored shopping center located in the densely populated Chicagoland suburb of South Holland, IL. The property features a strong mix of national and local tenants operating under net leases with management or administrative fee reimbursement. Pacesetter Plaza is positioned along 162nd Street, which boasts traffic counts of 34,200 vehicles per day. Access to the property is ideal as Interstate 94 is located less than 0.25 miles to the east of the property. Pacesetter Plaza is well-patronized, having 478,500 visitors in the last 12 months (per Placer.ai). Pacesetter Plaza has the potential for further value enhancement through lease-up of 2 vacant spaces, scheduled rental increases, and bringing the existing below-market rents to a more suitable market rate.South Holland is a suburb of Chicago with a population of 21,677. South Holland is in Cook County. Living in South Holland offers residents a rural feel and most residents own their homes. In South Holland, there are a lot of parks. Many young professionals live in South Holland and residents tend to be liberal.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$119 USD /SF

CAP RATE

8.45%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pacesetter Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

140

LAND DETAILS

LAND ACRES

2.27 AC

LAND SF

98,881 SF

ZONING

-

APN/PARCEL ID

29-14-317-031-0000

ASK ABOUT THIS PROPERTY

Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2260

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2260

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.