4916-4926 Pulaski RdChicago, IL 60630

For Sale
$2,295,000
High-Yield Retail Investment, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
125
Top Plaza, a 16,209 square foot, three-tenant retail center located at 4916-4926 N Pulaski Rd, Chicago, IL 60630, presents a compelling investment opportunity. This fee-simple property sits on a 0.58-acre lot and boasts a 7.78% cap rate with a strong NOI of $178,585. The property is 100% occupied, anchored by a Dollar Tree with a corporate guarantee and investment-grade credit rating (BBB/Baa2). Dollar Tree occupies 74% of the space and has a lease with over four years remaining, including renewal options. The remaining two tenants, a clothing store and a laundromat, also have leases with built-in rent increases and significant remaining terms. Built in 1989 and 2003, the single-story building benefits from excellent visibility and signage on N Pulaski Road in the Albany Park neighborhood. The location offers convenient access to major highways (Interstates 90 and 94 are within one mile) and public transportation. The strong demographics of the area, with over 49,500 people within a one-mile radius and an average household income exceeding $116,000, further enhance the investment potential. Nearby national retailers and restaurants drive significant traffic to the area. All leases include attractive rent bumps, providing a hedge against inflation and ensuring a stable income stream. This is a rare opportunity to acquire a high-performing, multi-tenant retail property with a strong tenant mix and excellent location. The asking price is $2,295,000.

Highlights

  • 16,209 SF multi-tenant retail center on a 0.58-acre parcel with three (3) units, fully leased to Dollar Tree, a clothing store, and Top Coin Laundry.
  • Dollar Tree (74% occupancy) has a corporately guaranteed lease with over 4 years remaining, plus three 5-year options; Investment grade credit rating (BBB S&P, Baa2 Moody's); $30.6B+ 2023 revenue.
  • Dollar Tree's long-term commitment is evidenced by their occupancy since 2014, two lease renewals, and over $100,000 in recent renovations.
  • All three tenants have attractive built-in rent increases.
  • Excellent visibility and signage on N Pulaski Road in Chicago's Albany Park neighborhood, near major highways (I-90 & I-94) and public transportation, with strong co-tenancy including Aldi, Starbucks, and other national retailers.
  • Densely populated area: 49,500+ residents within 1 mile ($116,141 avg. household income); 397,400+ residents within 3 miles ($128,910 avg. household income); 98,300+ employees within 3 miles.

Property Details for 4916-4926 Pulaski Rd

Property type
Lifestyle centers, Power centers
Square Feet
16,209 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
25,265 SF
Units
3

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.97074318
Longitude
-87.72813983
4916-4926 Pulaski Rd, Chicago, Illinois

FAQs

What type of property is this?
Lifestyle center - High-Yield Retail Investment, 100% Occupied
Where is the lifestyle center located?
The property is located at 4916-4926 Pulaski Rd Chicago, IL.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: 16,209 SF multi-tenant retail center on a 0.58-acre parcel with three (3) units, fully leased to Dollar Tree, a clothing store, and Top Coin Laundry.; Dollar Tree (74% occupancy) has a corporately guaranteed lease with over 4 years remaining, plus three 5-year options; Investment grade credit rating (BBB S&P, Baa2 Moody's); $30.6B+ 2023 revenue.; Dollar Tree's long-term commitment is evidenced by their occupancy since 2014, two lease renewals, and over $100,000 in recent renovations.
How can I contact the broker?
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4916-4926 Pulaski Rd
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