8821-8849 W 87th St - Storefront FOR SALE


Hickory Hills, IL 60457
$3,700,000 USD
630-886-4408
8821-8849 W 87th St, Hickory Hills, IL for Sale
$3,700,000 USD
Storefront - FOR SALE
1/6
null | 8.38% Cap Rate

8821-8849 W 87th St
Hickory Hills, IL 60457


HIGHLIGHTS

  • Anchored By Recently-Renewed Dollar General
  • Upside Value Through Outlot Development
  • Shares Corner & Access With CVS And Shell

OVERVIEW

Brookline Real Estate, LLC. is proud to present the opportunity to acquire a value-add investment property including a 41,650 square-foot multi-tenant retail center and one undeveloped outlot positioned in a strong, transit-oriented location in the Chicago suburb of Hickory Hills. This property offers tremendous upside and future NOI growth through the potential for development of the outlot. Furthermore, new ownership can add value by repositioning the below-market gross leases into NNN market rents. 87th Street Plaza contains 41,650 square-feet and is situated on approximately 5.42 acres. At the southwest corner of 87th Street and 88th Avenue just south of I-294, the center benefits greatly from its position next to CVS and Shell Gas Station across from Hickory Hills Police Department. Anchored by recently-renewed variety store chain, Dollar General, the center is occupied by many internet-resistant tenants on long-term leases. Differentiated businesses and contrasting rush hours allow for an ideal synergy and mutual benefit across the property. The brick construction building has been beautifully maintained and offers its visitors 242 parking spots in a landscaped and well-kept lot. Four entrances on two separate roads aid traffic flow and allow tenants to operate smoothly. Cross access with CVS and Shell allows for easy entry for those visitors as well. This asset is being offered at an 8.38% CAP rate with tremendous upside potential through future development and repositioning of the property.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$89 USD /SF

CAP RATE

8.38%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

250

LAND DETAILS

CROSS STREETS

88th Ave

LAND ACRES

8 AC

LAND SF

348,480 SF

ZONING

C-3, Hickory Hills

APN/PARCEL ID

23-03-201-019-0000

ASK ABOUT THIS PROPERTY

Dominick CannataBrookline Real EstateMore Info
630-886-4408

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Dominick CannataBrookline Real EstateMore Info
630-886-4408

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