1000-1058 East 162nd Street

1000-1058 East 162nd Street South Holland, IL 60473

1000-1058 East 162nd Street, South Holland, IL, 60473
1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473 1000-1058 East 162nd Street, South Holland, IL, 60473
FOR SALE
Property Type:
Street Retail
Amount:
$4,340,000
Last Verified:
Oct 21, 2024

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Highlights

  • Aggressive CAP rates
  • Value add opportunity with current average rent below $12 SF
  • 97% Occupancy
  • Several tenants paying below market rents
  • All tenants on NNN lease with annual increases
  • Located within TIF district
  • Strong mix of national and local tenants located within commercial district
  • Heavily traveled 162nd Street seeing 35,600 VPD
  • Highly visible site with 575 feet of frontage & multiple pylon signs
  • Densely populated infill area surrounding Pacesetter Plaza
  • Easy access to I94 (ess than .25 mile 141,395 VPD) & I294
  • Strong cellphone data showing over 30,000 visits/month
  • Recent Capital Expenditures include sealing and striping of parking lot and repainting entire center
  • Ample Parking: 140+ surface

Description

Multi-tenant Retail For Sale: 9% CAP Rate Located only 20 miles from Downtown Chicago, South Holland is easily accessible through all major interstates. Pacesetter Plaza boasts a population of 222,624 and has over 900 businesses within 5 miles. The trade area has generated over $1 Billion in retail sales in past years. There is also a large student population from South Suburban College and Thornwood HS. Tenant mix includes national and local retailers including Family Dollar, Allstate, Subway, Harold's, and more. Pacesetter Plaza is easily accessible from I94 with a clover leaf on/off ramp heading North and South.

South Holland is a suburb of Chicago with a population of 21,677. South Holland is in Cook County. Living in South Holland offers residents a rural feel and most residents own their homes. In South Holland, there are a lot of parks. Many young professionals live in South Holland and residents tend to be liberal.


Year Built: 1956
Building Size: 33654sq ft
Lot Size: 2.27 acres


Documents

South Holland Offering Memorandum 10.2024.pdf
South Holland 162nd St Sale and Lease_Brochure Compressed.pdf

Map of 1000-1058 East 162nd Street, South Holland, IL, 60473

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.