5260 Northwest Hwy - Freestanding FOR SALE


Crystal Lake, IL 60014- East Suburban McHenry
$4,104,000 USD
312-279-5342
5260 Northwest Hwy, Crystal Lake, IL for Sale
$4,104,000 USD
Freestanding - FOR SALE
1/11
null | 6.5% Cap Rate

5260 Northwest Hwy
Crystal Lake, IL 60014
East Suburban McHenry


HIGHLIGHTS

  • Four-Tenant Strip Center | Options To Extend | Strong Commitment to Site | Limited Short Term Rollover
  • Limited Future Capital Expense | Roof Warranty Through 2041
  • Dense Retail Corridor | Outparcel to 369K+ SF Power Center | Strong Surrounding National/Credit Tenant Presence
  • Prime Location on Northwest Highway (30,800 VPD) | Centralized Location | Chicago MSA | Excellent Visibility & Access
  • Direct Residential Consumer Base | Demographics in 5-Mile Trade Area | Affluent Community

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a four-tenant retail strip investment property with nationally recognized brands located in Crystal Lake, IL (Chicago MSA). FedEx and Panda Express feature additional 5-year options to further extend their lease, demonstrating their commitment to the site. In addition, 2 of the 4 tenants have scheduled rental increases in place, growing NOI and hedging against inflation. FedEx recently executed an early 10-year renewal, further demonstrating commitment to the site. At 100% occupancy and a weighted average lease term of 4.5 years, this offering provides an ideal, limited short term rollover investment in a thriving and desirable Chicagoland suburb. The subject is strategically located along Northwest Highway, providing clear visibility and access to an average of 30,800 vehicles passing by daily. Northwest Highway / U.S. Route 14 is a major arterial that provides efficient commutes and connects the northwestern suburbs of Chicago. The asset benefits from nearby access onto several other major State Routes and Highways, further making this a centralized location and providing easy access to both employees and customers. The strip center is ideally situated as an outparcel to Bohl Farm Marketplace, a 369K+ SF Power Center anchored by Target, Kohl’s, and Fresh Thyme Farmers Market. The additional surrounding national/credit tenants include Sam’s Club, Best Buy, Jewel-Osco, ALDI, PetSmart, and Menards, among many others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the asset is near numerous single-family communities and multi-family complexes including Residences of Crystal Lake (60 units), Congress Parkway (60 units), Darlington Court (235 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 123,200 residents and 51,400 daytime employees. Residents within 1, 3, & 5 miles of the subject boast an affluent average household income of $113,136, $119,798, and $135,052, respectively.

FOR SALE DETAILS

PRICE

$4,104,000 USD

PRICE/SF

$320 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bohl Farm Marketplace Lot 6

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

92

LAND DETAILS

CROSS STREETS

Route 14

LAND ACRES

2.21 AC

LAND SF

96,268 SF

ZONING

B-2 PUD

APN/PARCEL ID

19-04-452-006

ASK ABOUT THIS PROPERTY

Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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