2352 172Nd StLansing, IL 60438

Property Details for 2352 172Nd St

Property type

Retail space

APN

29-25-201-047

APU

2925201047

Description

This exceptional 23,000-square-foot retail shopping center and storefront property, located at 2352 172nd St, Lansing, IL 60438 (Cook County), presents a compelling investment opportunity. Built in 1990 and extensively renovated in 2022, the property boasts a strong 93% occupancy rate, generating a substantial net operating income (NOI) of $315,000, representing an attractive 8.50% capitalization rate. The asking price is $3,700,000, translating to $160.87 per square foot. The property sits on a 2.57-acre lot and includes 100 convenient parking spaces for customers. The center features two prominent dual-sided pylon signs, ensuring high visibility to the over 25,000 vehicles passing daily. Its strategic location benefits from the proximity of national retailers and a dense population base: over 105,000 people reside within 3 miles, 250,000 within 5 miles, and 800,000 within 10 miles, with average household incomes exceeding $75,000. The property's tenant mix includes a blend of established national and local businesses, demonstrating consistent leasing activity with recent lease renewals and new signings. The property's APN is 29-25-201-047-0000. This is a rare opportunity to acquire a well-maintained, high-performing retail center in a thriving Chicago MSA location.

Location Insight

City

Lansing

County

Cook

State

Illinois

Latitude

41.584

Longitude

-87.5599

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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