1000-1058 162Nd StSouth Holland, IL 60473

Property Details for 1000-1058 162Nd St

Year built

1956

Lot size

2.27 AC

Property size (Sq ft)

33,654 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 33,654 square foot shopping center in South Holland, Illinois presents a compelling value-add opportunity. Boasting a 9% cap rate and a current NOI of $390,809 (pro-forma NOI of $423,378), this single-story, 1956-built property sits on a 2.27-acre lot with 140 parking spaces. The property is 97% occupied by a diverse mix of national and local tenants, including Family Dollar, Allstate, Subway, and Harold's, all operating under NNN leases with built-in rent bumps. Located on heavily trafficked 162nd Street (35,600 VPD), with excellent visibility and 575 feet of frontage, the center benefits from its proximity to I-94 (141,395 VPD) and I-294. The property is situated within a Tax Increment Financing (TIF) district and serves a densely populated area with over 900 businesses within a 5-mile radius and a population of 222,624. Recent capital expenditures include parking lot improvements and repainting. The asking price is $4,340,000 ($128.96/sq ft). This property offers significant upside potential due to below-market rents for several tenants and strong cellphone data indicating over 30,000 monthly visits.

Location Insight

City

South Holland

County

Cook

State

Illinois

Latitude

41.6012

Longitude

-87.5915

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