1080 Hickory Point MallForsyth, IL 62535

Property Details for 1080 Hickory Point Mall

Year built

1983

Lot size

2.26 AC

Property size (Sq ft)

90,500 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 90,500 square foot Kohl's storefront on a 2.26-acre parcel in Forsyth, Illinois. Located within the Hickory Point Mall, a prominent 808,000 square foot regional mall featuring a mix of national retailers including Von Maur, Ross Dress for Less, TJ Maxx, Ulta, and Hobby Lobby, this property offers significant upside potential. The property boasts a strong 6.75% cap rate and a Net Operating Income (NOI) of $159,500. The current lease is a NNN ground lease with Kohl's, a long-standing tenant since 1982, recently exercising a five-year option extending the lease to January 31, 2029, providing a remaining lease term of 4.2 years. The property benefits from high traffic counts on US Route 51, a major north-south artery with 17,600 vehicles per day, and proximity to Interstate 72. Kohl's has consistently invested in its Hickory Point Mall location, including a 28,000 square foot expansion in 2003 and the recent addition of a Sephora boutique. The asking price is $2,365,000, translating to $26.13 per square foot. The property's location within a thriving retail corridor, evidenced by recent development activity including a new Starbucks and Panda Express, further enhances its value and long-term prospects. This is a rare opportunity to acquire a well-positioned, high-performing retail investment with a strong tenant and a secure long-term lease. The property is 100% occupied.

Location Insight

City

Forsyth

County

Macon

State

Illinois

Latitude

39.917

Longitude

-88.9617

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