Shoppes at Washington Park Plaza
100% Occupied with 3 National Tenants I Strong Retail Sub-Market
Marketing description
Qualified investors are extended the opportunity to acquire the Shoppes at Washington Park Plaza (the Property), a 7,019 square foot, three-tenant unanchored strip building located in Homewood, IL. The Property is 100% occupied by Starbucks (drive-thru), AT&T and Five Guys offering a secure and steady cashflow. The building enjoys outstanding visibility with approximately 200 feet of frontage along S Halsted Street in addition to convenient accessibility and parking.
This well-positioned property, situated within Washington Park Plaza, the premier shopping destination in Homewood, boasts excellent visibility and benefits from the consistent customer flow generated by adjacent national retailers including Best Buy, TJ Maxx, Ross, and Old Navy. The high-quality tenant lineup and ample remaining lease term offer a secure and compelling investment opportunity.
Investment highlights
Excellent Visibility: Situated in the heart of Homewood's retail corridor on Halsted St., the Shoppes at Washington Park Plaza enjoys a prime location and boasts a prominent 200-foot frontage along Halsted St., which experiences a traffic count of 35,000 VPD. The Property is located at the main entrance of the shopping center, with turn in turn out access from both the north and south.
Phenomenal Investment Grade Tenant Line Up: The Property is 100% occupied by investment grade tenants providing future ownership with a predictable and stable income stream.
Strong Operating History: AT&T and Starbuck's have enjoyed a strong operating history dating back to 2006 and have further demonstrated their continued commitment through recent lease extensions. The 2022 addition of Five Guys on a 10-year lease further enhanced the Property level WALT and predictability of the underlying cash flow.
Nearby Development – Hotel & Casino: Wind Creek Chicago Southland, which opened in November 2024, is the first AAA Four Diamond casino destination in Illinois and the greater Chicago area. Wind Creek Chicago Southland is located just one mile north of Halsted Street and will drive additional traffic to the retail corridor.
Recent Leasing Momentum & Healthy WALT: Ownership has recently secured a new 5-year extension with AT&T which includes a modest rent bump, bringing the WALT to 5.93 years.
Expansive Trade Area Within a Strong Suburban Submarket: The Shoppes at Washington Park Plaza's primary trade area extends approximately 6 miles in all directions. It encompasses all of Homewood and much of surrounding neighborhoods.
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