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Silo Square 1501-1527 W North Ave 41,925 SF 87% Leased Retail Building Melrose Park, IL 60160 For Sale
INVESTMENT HIGHLIGHTS
- Rare opportunity to acquire a positive cash flowing retail center with the ability to add value through lease-up
- Five (5) of the eight (8) tenants are on NNN leases
- Conveniently located in Melrose Park’s primary trade corridor with 277' of frontage along North Avenue
- Dual-sided monument signage at the corner of the signalized intersection providing visibility and expose to approx. 48,000 VPD
EXECUTIVE SUMMARY
Multi-tenant retail center located in west suburban Melrose Park (Chicago MSA). The center was renovated in 2011 and consists of approximately 42,000 SF across 11 units. Tenants include Foremost Liquors, H&R Block, Subway, Everyday Black Friday and Furniture, #1 Nails, Hanna’s Gaming, and Big Cloud Vape & Tobacco. The center features excellent frontage along North Avenue (277’) and dual-sided pylon signage at the corner of the signalized intersection at North Avenue & 15th Avenue, featuring visibility and exposure to approx. 48,000 VPD. The center is well located within the North Avenue retail corridor. Neighboring retailers include Costco, Target, Jewel-Osco, Cermak Fresh Market, ALDI, Cinemark Melrose Park, Best Buy, Carters, Foot Locker, Burlington, Ross Dress 4 Less. Marshalls, Five Below, Dollar Tree, AutoZone, Raising Cane’s, Panda Express, Chipotle and Starbucks, among others
PROPERTY FACTS
Sale Type
Investment
Sale Condition
REO Sale
Property Type
Retail
Property Subtype
Freestanding
Building Size
41,925 SF
Building Class
B
Year Built/Renovated
1989/2011
NOI
$280,895 CAD
Percent Leased
87%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Lot Size
2.00 AC
Parking
94 Spaces (2.24 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
- 1505
- 2,069 SF
- Retail
- In-Line
- Now
| Space | Size | Space Use | Position | Available |
| 1501-03 | 3,303 SF | Retail | End Cap | Now |
| 1505 | 2,069 SF | Retail | In-Line | Now |
1501-03
| Size |
| 3,303 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
1505
| Size |
| 2,069 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1501-03
| Size | 3,303 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Walk Score®
Very Walkable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-34-403-013-0000 | Improvements Assessment | $1,278,522 CAD |
| Land Assessment | $489,821 CAD | Total Assessment | $1,768,343 CAD |
PROPERTY TAXES
Parcel Number
12-34-403-013-0000
Land Assessment
$489,821 CAD
Improvements Assessment
$1,278,522 CAD
Total Assessment
$1,768,343 CAD
CONTACTS
-
Matt Tarshis -
Andrew Rubin -
Zack Pearlstein -
Andrew Picchietti -
Andrew Slovis -
Frontline Real Estate Partners
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Silo Square | 1501-1527 W North Ave
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