Shops of New Lenox
2320-2360 East Lincoln Highway, New Lenox, IL 60451
Marketing description
Cbre is Pleased to Present as the Exclusive Advisor Shops of New Lenox, a 15,080 Sf Strip Center Located in the Affluent New Lenox, Il. Shops of New Lenox Has Experienced 7,398 Sf of Leasing Activity That Future Investors Can Compound on via the Lease Up of One Available Suite Totaling 1,623 Sf.
Currently, the Property is 89.2% Occupied and Benefits From Their Adjacency to New Lenox Retail Center, a Highly Trafficked Shopping Center With Over 2.4 Million Visits. The Property's Strong Placement is Further Amplified by Its Visibility on the South Side of Lincoln Highway, a Primary Thoroughfare Running East-west. Traffic Counts in Front of the Property Are Excellent, Exceeding 27,300 Vehicles Traveling Daily.
Shops of New Lenox Provide a Compelling Opportunity for the Future Owner to Purchase a Strip Center With Embedded Upside, a Prime Location Within a Successful Shopping Center and a Submarket With Excellent Demographics Poised for Continued Growth and Development. The Property's Impressive Leasing and Performance Over the Past 3 Years Highlights the Desirability of the Tenants to Remain in This Submarket Thanks to the Strong Purchasing Power of the New Lenox Resident.
Investment highlights
- Recent Leasing Momentum Highlighting Retail Fundamentals + Strong Tenant Performance: The Shops at New Lenox Have Experienced Some Significant Leasing Momentum, Bringing the Property to Nearly 90% Occupancy Underscoring Tenant Commitment to the Market and Leasability of the Center. The Property's Positive Leasing Momentum Contributes to an Impressive Walt of 4.96 Highlighting the Durability and Sustainability of the Property's Cash Flow.
- Will County: New Lenox is Located in Will County, Which Has Considerably Less Tax Exposure Than Neighboring Cook County. Will County Has Nearly 700,000 Residents With an Average Household Income of Approximately $125,000 Producing Strong Spending Power in New Lenox and the Surrounding Communities.
- Value-add Lease Up Potential: The Property Features One Available Vacant Suite Totaling 1,623 Sf, Creating an Opportunity for Ownership to Step in and Boost Revenue by Approximately $40,575 at Estimated Terms of $25.00 Psf +nnns.
- Service-oriented and Internet-resistant Tenant Line-up: Shops of New Lenox is Made Up of Experience-based Retailers Featuring Two Quick-service Restaurants, Several Service Providers, and Medical Such as Westside Children's Therapy.
- Shadow-anchored by Target, Michael's, and Lowe's: The Property is Located in New Lenox Retail Center, a 320,000 Square Foot Shopping Center With 2.4 Million Visits in 2025.
- Affluent Area With Growing, Positive Demographics: Within Three Miles of the Asset is a Population of 45,228 Residents With an Average Household Income of $159,291 and an Average Home Value of $476,914. Over the Last 10 Years, the Population Has Risen 11.5% With an Expectation of Continued Growth.
- Chicago Msa: The Chicago Msa is the 3rd Largest Msa in the Country and is Home to Hundreds of Companies and Offers a Diverse, Growing Workforce With Strong Institutional Anchors, and Numerous Transportation Advantages.
- Free and Clear Offering: Shops of New Lenox is Offered Free and Clear of Existing Debt, Enabling Investors to Structure Their Capital Requirements According to Their Needs.
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