ILLINOIS BROKER OF RECORD: MICHAEL SCHERTLER / License No. 471011764
Faris Lee Investments proudly presents the fee simple interest (land & building) in a premier
value-add retail shopping center investment opportunity located at 15497–15601 S. 94th
Avenue, Orland Park, IL. This approximately 59,835-square-foot, multi-tenant NNN leased
retail asset offers investors a rare opportunity to acquire a 100% occupied property at a price
well below replacement cost ($120 PSF), in one of the most affluent and high-demand suburbs
within the Chicago MSA.
Currently leased at rental rates approximately 50% below market, the property provides
immediate and significant value creation potential through strategic leasing and property
enhancements. Its stable income stream, paired with meaningful upside, makes this a compelling
opportunity for value-add and long-term investors alike.
Adding to the investment appeal is an assumable loan with a historically low interest rate
of 3.875%, allowing an incoming investor to realize 7.61% cash-on-cash return. In today’s
rising interest rate environment, this financing structure provides substantial leverage and yield
enhancement, uncommon in today’s market.
The asset is offered at a cost basis of $120 per square foot, presenting investors with a low entry
price and the flexibility to modernize the center while maintaining competitive rent levels.
Given today’s elevated construction costs, this acquisition enables investors to offer below market
rents, secure long-term tenants, and unlock superior long-term value.
The property features a diverse mix of established local and regional tenants, catering
to essential neighborhood services and daily needs. The center’s 100% occupancy, coupled
with its multi-tenant layout, supports strong in-place cash flow and high demand for smaller
incubator-style spaces. Investors may also benefit from cost segregation and depreciation based
tax benefits available through ownership.
Strategically located along the high-traffic LaGrange Road corridor—Orland Park’s core retail
artery—the property is positioned near Orland Square Mall, a regional destination anchored
by Macy’s and boasts high-volume national retailers including Apple, Lululemon, Sephora,
Urban Outfitters, H&M, and more, driving consistent consumer traffic. The surrounding retail
landscape includes top-performing national anchors such as Costco, Whole Foods, Trader
Joe’s, Target, Dick’s Sporting Goods, Ross, Hobby Lobby, Marshalls, and Nordstrom Rack,
creating a thriving commercial environment and unparalleled market visibility.
Located in the heart of Orland Park, a highly desirable and affluent suburb of Chicago, the
subject property benefits from a robust and growing trade area. Within a 5-mile radius, the
population exceeds 172,000 residents, with an average household income over $130,000
and more than 66,000 households. The property draws from neighboring communities
including Tinley Park, Oak Forest, Homer Glen, and Palos Heights, providing a strong,
diverse consumer base.
With its prime location, strong demographics, below-market rents, assumable low-interest
financing, and high-yield profile, the Orland Park Retail Center offers investors a rare opportunity
to acquire a well-located, income-generating retail asset with substantial long-term upside.