1938 Lincoln HwyNew Lenox, IL 60451

Property Details for 1938 Lincoln Hwy

Property size (Sq ft)

63,404 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

Atrium Point, a Class A, mixed-use property located at 1938 E Lincoln Hwy in New Lenox, Illinois (zip code 60451), presents a compelling core-plus investment opportunity. This fee-simple offering encompasses 63,404 square feet across a two-story building, boasting a strong 90% occupancy rate and a noteworthy Net Operating Income (NOI) of $976,855, resulting in a 7.24% capitalization rate. The asking price is $13,500,000, translating to $212.92 per square foot. The property features 220 surface parking spaces and benefits from a prime location on a signalized corner at the intersection of Lincoln Hwy and Lincolnway Road, experiencing a high daily vehicle count of 34,179. Its strategic positioning provides convenient access to I-80 and public transportation, including rail. The surrounding area is affluent, with average household incomes exceeding $148,000 within a five-mile radius. Building amenities include two monument signs, a bank with three drive-thru lanes, multiple entrances, and elevators. The property is anchored by a diverse tenant mix and enjoys close proximity to numerous national retailers, including Walmart, Lowe's, Target, and many more, ensuring a robust and stable tenant base. The lease type is NNN (Triple Net Lease) with multi-tenancy. Built in 2005, Atrium Point offers a rare combination of strong financial performance, prime location, and excellent amenities, making it an ideal investment for discerning buyers.

Location Insight

City

New Lenox

County

Will

State

Illinois

Latitude

41.5095

Longitude

-87.9277

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