Strip Center - Addison, IL
Retail | 7,025 SqFt
Marketing description
Colliers Net Lease Investment Group is pleased to present a stabilized real estate investment opportunity with a value-add component. This standalone property houses two well known tenants: a closed Chicago pizza restaurant and a national cellphone store. This net-leased property is strategically located at 1323 W. Lake St in Addison, IL, and was constructed in 2005. It forms an integral part of a thriving development that encompasses numerous residential condominiums, a prominent BMO Harris Bank branch, Culver’s, and an advanced Amita Health immediate care and medical imaging facility.
Positioned strategically along the bustling US Hwy 20, just southeast of the I-355 interchange and Route 53 interchange, this property offers unparalleled accessibility, facilitating seamless north-south connections throughout Chicago’s western suburbs.
This offering presents savvy investors with a unique opportunity to acquire a stable asset and has 3 years to work to backfill the pizza space.
This opportunity is offered at $1,992,863 and a 8.00% cap rate
Investment highlights
Strategic Location
•Located in a very dense corridor filled with residential, hotels, offices, and more.
•Just minutes from O’Hare Airport
•Primary retail corridor
•Great access to and from highways serving Chicago’s west suburbs.
•Down the road from the Eaglewood Resort & Spa
•Numerous retailers in the immediate area including Walmart, Sam’s Club, Culver’s, Aldi’s, Dunkin, IHOP and more.
Strong Investment Fundamentals
•Iconic Brands
•At or below market rents
•100% Fee Simple
•Strong Household income
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
