Value Add Neighborhood Retail 17100 S Dixie Hwy 9,600 SF 90% Leased Retail Building Hazel Crest, IL 60429 $1,141,274 CAD ($118.88 CAD/SF) 8.11% Cap Rate

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a 9,600 square foot neighborhood retail center with 33 percent vacancy and enticing value-add potential. The property is well-sited directly off the I-294 highway, at the signalized intersection of Dixie Hwy and 171st St. The vacancy in the center is comprised of two shallow bay units located on the western part of the building.
The vacant space has been proactively vanilla boxed by current ownership, seeing upwards of $45/SF, and is in highly leasable condition. At conservative NNN market rents of $10-12/SF, investors can achieve a Year 2 CAP rate of 16.56%.
The retail center has been well-maintained by the current owners, who are largely focused on their industrial and office portfolio of over 1,500,000 square feet. All the tenants operate on Modified Net leases, reimbursing all CAM Expenses, Insurance, partial Management Fees, and their pro rata share of real estate tax increases over the base year expense.
Located on the southern edge of a dense neighborhood, the center benefits from solid suburban demographics – over 75,000 people live within three miles of the property and average household incomes exceed $91,000 annually within the same radius. This retail property further benefits from visibility to 15,000 vehicles per day on Dixie Hwy.
Please contact Marcus & Millichap with additional questions about this opportunity