5220 TOUHY AVE Skokie IL 60077-3244

Transwestern Commercial Services, a full service commercial real estate firm, as exclusive broker, is pleased to offer, for sale the Touhy Plaza Shopping Center.

Touhy Plaza is a 38,940 SF shopping center located at 5220 West Touhy Avenue in Skokie, Illinois. It offers an investor a terrific opportunity to own a generational retail asset situated in an infill, high-density retail sub-market, in Chicago’s near northern suburbs. The property consists of 2.53 Acres and was constructed in 1973 and remodeled in 2017. The five-tenant, neighborhood shopping center, is anchored by Pep Boys & Advance Auto Parts stores, representing 59% of the total occupancy. Of the remaining three tenants, two are National tenants, with Orangetheory Fitness and Skechers Warehouse Outlet. The fifth tenant is Qahwah House, an award-winning coffee shop with 20 total locations. This 100% leased center is in a premier market and has a history of strong tenant demand and excellent sales.

The property is located at the intersection of heavily traveled Touhy Avenue (39,100 VPD) and Niles Center Rd (16,200 VPD). It is strategically situated just West of Interstate 94 (I-94), a main a arterial thoroughfare with over 150,000 VPD that connects downtown Chicago (15 miles) to the northern suburbs. Immediately West of the property is the 721,149 SF Village Crossing Shopping Center, located at 5415 - 5553 W Touhy Avenue, which sees 6.5 million visitors per year. This submarket is one of the strongest in Chicago with major tenants including: Walmart, Amazon, Target, Costco, Jewel-Osco, Dick’s Sporting Goods, Best Buy, Fresh Farms, Ross, Michaels, Barnes & Noble and AMC to list a small sample. Retailers that are not currently in this sub-market, have a strong desire to be in this sub-market, but spaces are limited due to continued low vacancy (3.5%) and scarcity of land for new development opportunities.

The area is heavily populated and affluent. There are 729,675 people located in a 5-mile radius and 2,130,455 people located in a 10 mile radius, the average household income is $130,142 within 5 miles and $131,008 within 3 miles of the property.

Touhy Plaza is in the Near North Retail Submarket with a total inventory of 26.2 Million SF of retail space and low vacancy factor of 3.5%. There is almost no new construction of retail space in this submarket. The average sub-market asking rent is $25.07 Net, and the average rent per square foot of the subject property is $19.42 Net which allows for future mark-to-market upside upon lease rollover.

PROPERTY SPECIFICATIONS

38,940 SF neighborhood center on 2.53 Acres with 124 parking spaces, built in 1973 and remodeled in 2017.

ATTRACTIVE LEASE DYNAMICS

Long-term net leases (WALT: 6.92 Years), to strong national tenants, with rental increases throughout.

PREMIER LOCATION

Located approximately 1/3rd of a mile West of Interstate 94 with 150,000 VPD in infill retail submarket.

GOOD VISIBILITY AND SITE LINES

Approximately 422 of unobstructed feet of frontage on Touhy Avenue at a stop light intersection. There is a brand new Popeye’s restaurant on the immediate East parcel to the property (not included in the sale).

BENEFITS FROM BIG-BOX PROXIMITY

The property benefits from the huge draw from four dominant big box retailers; Costco, Walmart, Target, and Fresh Farms International Market are all in close proximity to the subject property and bring forth large volumes of shopping traffic to the sub-market.

SHOPPING DESTINATION FOR SURROUNDING COMMUNITIES

The property is surrounded by Wilmette (population 27,000) to the Northeast, Evanston (population 74,000) to the East, Park Ridge (population 38,000) to the West, Niles (population 29,500) to the Southwest, Morton Grove (population 24,100) to the West, and Northfield (population 5,500) to the North. This market services all these communities including Chicago and Lincolnwood on the southern borders.

SYNERGISTIC NEIGHBORING PROPERTIES

Adjacent to Holiday Inn and Suites with Banquet and Conference centers accommodating 1,200 attendees. On weekends this hotel accommodates many occupants for kids sporting events in the area.

SUPERIOR DEMOGRAPHICS

Approximately 188,000 people live in the 3-mile area, approximately 23,300 people work within 1-mile and the Average Household income is over $158,000 within 1-mile.

EASILY ACCESSIBLE

The primary source of transportation to the property is by vehicle, however the Chicago Transit Authority (CTA) operates in the area.