For Sale
$4,340,000

1000 162Nd StSouth Holland, IL 60473

High-Yield Shopping Center in South Holland, IL

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents Pacesetter Plaza, a 33,654-square-foot multi-tenant retail center situated at 1000 E 162nd St, South Holland, IL 60473. Boasting a 97% occupancy rate and a strong net operating income (NOI) of $390,809, this property offers a compelling 9.00% capitalization rate at an asking price of $4,340,000. The center features a diverse mix of 15 tenants, all operating under net lease agreements, minimizing landlord responsibilities and ensuring consistent cash flow. Located on a highly visible, signalized intersection of 162nd Street (Route 6), a major retail thoroughfare with over 35,600 vehicles per day, the property benefits from exceptional visibility and accessibility. Its strategic location, just 20 miles from downtown Chicago and easily accessible from major interstates, ensures a robust customer base. The surrounding area is densely populated, with over 222,624 residents and over 900 businesses within a 3-mile radius, boasting an average household income exceeding $77,000. The presence of nearby South Suburban College and Thornwood High School further enhances the area's demographic appeal. This thriving retail corridor generates over $1 billion in annual sales, and Pacesetter Plaza benefits from the proximity of national retailers such as Aldi, Jewel-Osco, and others. The property includes 140 parking spaces and sits on a 2.27-acre lot. The property is located within a Tax Increment Financing (TIF) district. Several tenants are currently paying below-market rent, presenting a value-add opportunity for potential rent increases. All leases include annual rent increases. This is a rare opportunity to acquire a high-performing retail asset in a prime location with significant upside potential.

Highlights

  • High CAP rate potential.
  • Value-add opportunity: below-market rents averaging under $12/SF.
  • 97% occupancy.
  • Significant upside: below-market leases.
  • NNN leases with annual rent increases.
  • Located in a Tax Increment Financing (TIF) district.

Property Details for 1000 162Nd St

Property type
Lifestyle centers, Power centers
Square Feet
33,654 SF
Lot Size (sq. ft)
98,881 SF

Location Insight

City
South Holland
County
Cook
State
Illinois
Latitude
41.6012129
Longitude
-87.5925037
1000 162Nd St, South Holland, Illinois

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1000 162Nd St
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