Northpoint Plaza

Highlights

• All new roofs except for the area over spaces 23-28 and space 8
• The parking lot was completely milled and resurfaced approximately 7 years ago
• New water main was installed along with new fire hydrants around the center 5 years ago
• Sprinkler risers and systems were upgraded 5 years ago
• New LED lights throughout the center - installed 5-7 years ago and recently updated last year
• Most occupied spaces have been completely gutted and remodeled with the new tenants
• Occupancy 20% at purchase in 2015 and today it hovers above 80%
• Property in a Qualified Census Tract for both NMTC and Opportunity Zone

Description

Presenting a prime investment opportunity, this 197,359 SF retail/strip center features 21 units within 2 well-maintained buildings. Originally constructed in 1981 and renovated in 2000, the property features numerous recent upgrades, including new roofs, resurfaced parking lots, water main installations, and modern LED lighting. With occupancy soaring from 20% at the time of purchase in 2015 to over 80% today, this property promises high potential for returns. Situated in a Qualified Census Tract for both NMTC and Opportunity Zone benefits, this center offers a strategic and enticing investment prospect in the thriving Streator area.

The property is located in the northern section of Streator, along the west side of Bloomington Street (SR-23). The neighborhood is primarily influenced by commercial and service uses along the area's throughfares with residential improvements along interior collector streets. The neighborhood is a rural area and the housing is comprised of single-family homes and small apartment buildings, and apartment complexes. The subject is located approximately twelve miles east of Interstate 39 and fifteen miles south of Interstate 80.