Listed by Riser Retail Group Carmel
$4,000,000
Michaels South Elgin, IL (Chicago MSA)
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 21,734
Net Rentable (SqFt) 21,734
Units 1
Cap Rate 6.25%
NOI $249,941
Occupancy 100%
Tenancy Single
Brand/Tenant Michaels , Michaels
Lease Term 10.1
Lease Expiration 04/30/2030
Remaining Term 3.8
Lease Options 4
Pro-Forma Cap Rate 6.52%
Price per SqFt $184
Class A
Year Built 2021
Buildings 1
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 04/01/2020
Ground Lease No
Michaels | Single Tenant | Net Leased Asset | Chicago MSA | 6.25% CAP | 21,734 SqFt
Marketing description
• New 2021 Class “A” Construction
• Brand New Long Term Lease (June 2031)
• Affluent Chicago MSA
• 2021 Store Opening
• Updated Parking Field (Summer 2022)
• Multiple Points of Ingress & Egress
• 100% Occupied
• High Traffic Counts (38,000+ VPD)
• High Income Demographics
• Average Household Income: $200,00+ (1mile)
Listing Contacts
Listed by Riser Retail Group Carmel
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$249,941.00
$20,828.42/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
Map
Zoning
B-2 CommercialNeighborhood CommercialCommunity Business District
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View all 75 uses Last updated Feb 3, 2026 For deeper zoning details, reports are available at Zoneomics
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