For Sale
$2,850,000

515 Il-173 Antioch, IL 60002

High-yield, 2-tenant retail center

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional Class A, 7,026 square-foot retail property in Antioch, IL, presents a compelling investment opportunity. Located on a 0.95-acre lot at the hard corner of IL Route 173 and Deep Lake Road, this single-story building boasts a prime location within a thriving retail corridor, benefiting from over 25,000 vehicles per day. The property is 100% occupied by Sherwin-Williams and Mattress Firm, both on long-term, net leases with multiple renewal options and significant rental increase potential. Built in 2006 and renovated in 2014, the center offers two suites totaling approximately 7,026 square feet. The property's strong tenant base, favorable lease terms, and strategic location near Walmart and Menards, along with other national retailers like ALDI, Starbucks, and Chase, ensure a stable and high-yielding investment. The property features a 6.25% cap rate and a Net Operating Income (NOI) of $178,220, with an asking price of $2,850,000. The surrounding area boasts a population of over 56,000 within a five-mile radius, exhibiting an average household income exceeding $129,000. This presents a rare opportunity to acquire a stabilized, high-performing retail asset in a robust market. The property's APN is 02-16-200-034-0000.

Highlights

  • 100% Occupancy, Two-Tenant Retail Building
  • Net Leases with Recent Renewals
  • Significant Rental Growth Potential via Multiple Renewal Options
  • High-Traffic Corner Lot in a Thriving Retail Area
  • Daily Traffic Count Exceeding 25,000 Vehicles
  • Pad Site in Walmart/Menards-Anchored Center

Property Details for 515 Il-173

Property type
Lifestyle centers, Power centers
Square Feet
7,026 SF
Class
A
Year Built/Renovated
2006/2014
Buildings
1
Stories
1
Lot Size (sq. ft)
41,382 SF
Units
2

Location Insight

City
Antioch
County
Lake
State
Illinois
Latitude
42.46636046
Longitude
-88.06297566

FAQs

What type of property is this?
Lifestyle center - High-yield, 2-tenant retail center
Where is the lifestyle center located?
The property is located at 515 Il-173 Antioch, IL.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 100% Occupancy, Two-Tenant Retail Building; Net Leases with Recent Renewals; Significant Rental Growth Potential via Multiple Renewal Options
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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515 Il-173
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