For Sale
$3,841,000

8300 Holland Rd Chicago, IL 60620

Fully Leased Multi-Tenant Strip Center

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional 9,652 square foot, single-story retail center in Chicago, IL, presents a compelling investment opportunity. Boasting 100% occupancy with five tenants, including Potbelly, GameStop, and BMO Harris Bank, this property offers a strong, diversified tenant mix. The Net Lease (NNN) investment features a robust NOI of $307,227 and an 8.00% cap rate, supported by a weighted average lease term of 6 years. All five tenants have occupied the space for over 11 years and recently exercised lease extensions. Approximately 63% of the NOI is derived from corporate credit tenants, including BMO Harris Bank, a Moody's A2 Investment Grade Credit rated tenant. Situated on a 1.19-acre lot with 71 parking spaces, the property enjoys a prime location at the gateway to the 420,000 square foot Lowe's anchored Chatham Market shopping center, benefiting from high traffic counts on 83rd Street and Interstate 94. The property is zoned B2 and was built in 2008. This strategically located asset offers exceptional visibility and accessibility, serving a densely populated trade area with over 275,000 people and 100,000 households within a 3-mile radius. The asking price is $3,841,000, translating to $397.95 per square foot. Detailed lease options and rent bump information are available in the marketing package. The property is fee simple ownership of land and building.

Highlights

  • 100% occupied, 9,652 SF multi-tenant retail center anchored by Potbelly, GameStop, and BMO Harris Bank.
  • All five tenants have 11+ year history, perfect rent collection, and recently exercised lease options.
  • 63% of NOI from corporate credit tenants, including BMO Harris (Moody's A2 rated).
  • High-visibility, hard-corner location at the gateway to a Lowe's-anchored shopping center.
  • Serves a dense trade area with over 275,000 people and 100,000 households within 3 miles.
  • Located in a retail corridor with over 1 million SF of retail space, including other major anchors.

Property Details for 8300 Holland Rd

Property type
Lifestyle centers, Power centers
Square Feet
9,652 SF
Year Built
2008
Buildings
1
Stories
1
Lot Size (sq. ft)
51,836 SF
Units
5

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.7432811
Longitude
-87.6324384
8300 Holland Rd, Chicago, Illinois

FAQs

What type of property is this?
Lifestyle center - Fully Leased Multi-Tenant Strip Center
Where is the lifestyle center located?
The property is located at 8300 Holland Rd Chicago, IL.
What is the asking price?
The asking price for this property is $3,841,000.
What are key features of this property?
This property features: 100% occupied, 9,652 SF multi-tenant retail center anchored by Potbelly, GameStop, and BMO Harris Bank.; All five tenants have 11+ year history, perfect rent collection, and recently exercised lease options.; 63% of NOI from corporate credit tenants, including BMO Harris (Moody's A2 rated).
How can I contact the broker?
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8300 Holland Rd
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