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33683092
33683093

16641 S Halsted St, Harvey, IL 60426

DC
IL IL 475.188007
Marcus & Millichap SWM Group
AM
IL 475.147980
Marcus & Millichap SWM Group
SS
IL 471.010712
Marcus & Millichap SWM Group
AW
IL 475.140200
Marcus & Millichap SWM Group
Listed by Marcus & Millichap SWM Group
$2,100,000
1 day on market
Updated 1 day ago
Opportunity zone

DaVita Dialysis | Happy Daze

Details
APN 29-21-312-018-0000, 29-21-312-017-0000, 29-21-312-016-0000, 29-21-312-015-0000, 29-21-312-014-0000, 29-21-312-013-0000, 29-21-312-012-0000, 29-21-312-011-0000
Property Type Retail
Sub Type Shopping Center
Square Footage 8,864
Net Rentable (SqFt) 8,864
Units 2
Cap Rate 8%
NOI $167,971
Occupancy 100%
Tenancy Multi
Brand/Tenant DaVita
Lease Type Net
Lease Term 25.3
Lease Expiration 07/31/2031
Remaining Term 5.1
Rent Bumps No
Lease Options Yes
Price per SqFt $237
Year Built 2006
Buildings 1
Acreage 0.480
Parking Spaces 25 spaces
Parking Per SqFt 2.82
Investment Type Stabilized
Lease Commencement 04/01/2006
Ground Lease No

Two-Tenant Med-Tail Center | DaVita Operating Since '06 | Just Off I-294

Marketing description

Investors are offered the opportunity to acquire a two-tenant med-tail center anchored by DaVita Dialysis. DaVita accounts for over 77 percent of the base rent and has successfully operated at this location for 20 years, recently exercising a five-year option. Happy Daze is a successful Chicagoland chain of smoke and vape shops currently operating seven locations. Happy Daze has operated at this location for eight years and has one, 10-year option remaining. With a strong history of high occupancy, the property offers durable cash flow for investors. Illinois is a Certificate of Need state, further ensuing the stability of property.

Each lease includes scheduled rental increases, supporting long-term income growth. The property offers high visibility and is located just 0.5 miles from I-294 (178,200 vehicles per day). Frontage along S. Halsted Street (18,000 vehicles per day) exceeds 200 feet. Nearby demand drivers include the Wind Creek Chicago Southland casino/resort and several top-performing retail centers with national tenants. Underpinning the property’s strong fundamentals is a dense trade area with over 74,000 residents and nearly 80,000 employees within a three mile radius.

Investment highlights

  • 100 Percent Occupied Two-Tenant Med-Tail Center | DaVita Dialysis & Happy Daze
  • Long-Operating History | DaVita has Been Operating at this Location Since 2006
  • Lease Features Renewal Options with Scheduled Rental Increases During Each Option Periodod
  • 0.5 miles from On/Off Ramp of Interstate 294, Which Sees 178,200 Vehicles per Day
  • Near Top Ranked Shopping Centers and New Casino | Strong Surrounding Drivers
  • Densely Populated Trade Area with a High Daytime Population

Listing Contacts

DC
IL IL 475.188007
Marcus & Millichap SWM Group
AM
IL 475.147980
Marcus & Millichap SWM Group
SS
IL 471.010712
Marcus & Millichap SWM Group
AW
IL 475.140200
Marcus & Millichap SWM Group
Listed by Marcus & Millichap SWM Group

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$167,971.00
$13,997.58/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Steven Weinstock
License
471.011175
Title
Broker of Record
Name
Daniel Chumbley
License
IL 475.188007
Brokerage
Marcus & Millichap
Title
Healthcare Real Estate Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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