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Recently Renovated High-Yield Retail Center 402-440 N Weber Rd 29,209 SF 73% Leased Retail Building Online Auction Sale Romeoville, IL 60446
INVESTMENT HIGHLIGHTS
- Carillon Court offers a 73% occupied and recently renovated neighborhood retail center with existing income and value-add growth potential.
- Surrounded by household-name retail brands on Weber Road, including Walgreens, Target, Walmart Supercenter, Starbucks, Jimmy John's, and more.
- Approximately 50% of the current tenants have been in the property for over 20 years, demonstrating a history of success at the location.
- Prime location at the signalized intersection of N Weber and W 135th Street, with prominent signage visible to more than 48,000 daily vehicles.
- Benefit from strong 5-mile demographics, with over 147,000 residents boasting an average household income of more than $132,000.
- More than $1 million in recent capital improvements completed, with upgrades to the façade, storefront, sidewalks, and two white boxed vacancies.
EXECUTIVE SUMMARY
Qualified investors have the exclusive opportunity to acquire a 100% fee interest in Carillon Court, a neighborhood retail center encompassing 29,209 square feet, in the southwest suburb of Romeoville, Illinois, near Chicago, at 402-440 North Weber Road. The property is strategically positioned at the northwest corner of Weber Road and West 135th Street (also known as Romeo Road). Weber Road serves as a major north-south thoroughfare for the city, with significant traffic counts averaging 34,700 vehicles per day.
Carillon Court was developed in 1990 on a site measuring approximately 4.84 acres. Currently, the value-add center is operating at 73% occupancy, allowing potential investors to enhance the property’s performance by leasing the vacant 8,020 square feet. Ownership recently invested over $1 million in capital improvements to the property, including the facade, storefront, and sidewalks, as well as white boxing two vacant suites.
Approximately 50% of the tenants at Carillon Court have been operating at the property for over 20 years, indicating strong commitment and stability. Additionally, 25% of the tenants have occupied their spaces for more than 10 years, highlighting the center’s desirability and fostering a loyal customer base. This longevity enhances the property’s income stability and reduces turnover costs, making it an attractive investment opportunity.
Carillon Court is located along Weber Road, just south of its interchange with Interstate 55. Weber Road is a highly traveled, primary north-south thoroughfare for the city, with average daily traffic counts of 34,700 and more than 118,500 vehicles passing through its intersection with the Interstate. Serving as the primary area retail node serving Romeoville, Weber Road offers a wealth of prominent retailers surrounding the property, including Walgreens, Jewel-Osco, Dunkin', Target, Kohl’s, Walmart Supercenter, T.J. Maxx, Jimmy John's, and Starbucks, among many others, creating a superior retail destination for consumers. The surrounding area has an excellent, dense, affluent demographic profile, with a population of over 147,000, earning an average household income of $132,119 within a 5-mile radius, approximately 1.15 times and 1.18 times higher than the state and national averages, respectively.
Discover the perfect retail acquisition offering robust existing income and substantial growth potential within the Chicago MSA at 402-440 N Weber Road, Carillon Court.
Property tours are by appointment only. Please contact the listing broker to schedule.
Carillon Court was developed in 1990 on a site measuring approximately 4.84 acres. Currently, the value-add center is operating at 73% occupancy, allowing potential investors to enhance the property’s performance by leasing the vacant 8,020 square feet. Ownership recently invested over $1 million in capital improvements to the property, including the facade, storefront, and sidewalks, as well as white boxing two vacant suites.
Approximately 50% of the tenants at Carillon Court have been operating at the property for over 20 years, indicating strong commitment and stability. Additionally, 25% of the tenants have occupied their spaces for more than 10 years, highlighting the center’s desirability and fostering a loyal customer base. This longevity enhances the property’s income stability and reduces turnover costs, making it an attractive investment opportunity.
Carillon Court is located along Weber Road, just south of its interchange with Interstate 55. Weber Road is a highly traveled, primary north-south thoroughfare for the city, with average daily traffic counts of 34,700 and more than 118,500 vehicles passing through its intersection with the Interstate. Serving as the primary area retail node serving Romeoville, Weber Road offers a wealth of prominent retailers surrounding the property, including Walgreens, Jewel-Osco, Dunkin', Target, Kohl’s, Walmart Supercenter, T.J. Maxx, Jimmy John's, and Starbucks, among many others, creating a superior retail destination for consumers. The surrounding area has an excellent, dense, affluent demographic profile, with a population of over 147,000, earning an average household income of $132,119 within a 5-mile radius, approximately 1.15 times and 1.18 times higher than the state and national averages, respectively.
Discover the perfect retail acquisition offering robust existing income and substantial growth potential within the Chicago MSA at 402-440 N Weber Road, Carillon Court.
Property tours are by appointment only. Please contact the listing broker to schedule.
DATA ROOM Click Here to Access
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- OEA and REA
- Title and Insurance
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Building Size
29,209 SF
Building Class
B
Year Built
1990
Percent Leased
73%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.14
Lot Size
4.84 AC
Parcel Numbers
Zoning
B-3
Parking
163 Spaces (5.58 Spaces per 1,000 SF Leased)
Frontage
311’ on Weber Rd
AMENITIES
- Pylon Sign
- Restaurant
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- -
-
Lorem Ipsum
-
Jan 0000
Liquor store with a huge selection of micro brews, craft beers, imports, and liquors.
- Carillon Cleaner
- Services
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- La Michoacana Tropical Ice Cream
- Retailer
- -
- -
- -
-
Jan 0000
-
- Accommodation and Food Services
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Michael's Pizza pride themselves on being a community minded, family oriented business. That’s why they are actively involved with dozens of local schools, churches, youth and non-profit organizations. They stand behind the communities they do business in. It’s their way of saying, “Thank you!” to the people who have helped them become successful. Michael’s Pizza has something for every pizza lover, original thin crust & double crust, their famous stuffed pizza and now thick pan pizza ! They’re sure to have your favorite. But they don’t just do pizza…they also serve a variety of savory sandwiches, homemade pastas, Fresh Choice salads, appetizers, and more!
- Next Level Chiropractic
- -
-
99,999 SF
- -
- -
-
Jan 0000
- Stella's Bar & Grill
- Accommodation and Food Services
- -
- -
-
Lorem Ipsum
-
Jan 0000
- Verilife
- -
-
99,999 SF
- -
- -
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | - | Lorem Ipsum | Jan 0000 | |
| Carillon Cleaner | Services | - | $9.99 | Lorem Ipsum | Jan 0000 | |
| La Michoacana Tropical Ice Cream | Retailer | - | - | - | Jan 0000 | |
|
|
Accommodation and Food Services | - | $9.99 | Lorem Ipsum | Jan 0000 | |
| Next Level Chiropractic | - | 99,999 SF | - | - | Jan 0000 | |
| Stella's Bar & Grill | Accommodation and Food Services | - | - | Lorem Ipsum | Jan 0000 | |
| Verilife | - | 99,999 SF | - | - | Jan 0000 |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
7,989
60,504
142,578
2020 Population
8,012
61,029
144,187
2029 Population
7,972
60,307
142,045
2024-2029 Projected Population Growth
-0.2%
-0.3%
-0.4%
Daytime Employees
1,262
14,286
54,145
Total Businesses
149
1,320
5,387
Average Household Income
$82,860
$108,003
$119,932
Median Household Income
$74,750
$94,532
$100,008
Total Consumer Spending
$105.2M
$739.2M
$1.8B
Median Age
51.1
38.8
39.2
2024 Households
3,606
20,446
47,384
Percent College Degree or Above
16%
18%
22%
Average Home Value
$257,096
$264,242
$298,987
$ values in USD
SALE ADVISOR
SALE ADVISOR
Adam Foret, Vice President
Adam Foret is a Vice President with the National Retail Partners – Midwest. The NRP—Midwest is recognized as CBRE's leading national retail investment team, representing a diverse set of clients ranging from REITs and pension fund advisors to private investors and developers. The NRP-Midwest team has completed over 1,045 transactions totaling in excess of $15.4 billion.
Mr. Foret joined the team after serving as the Senior Leasing Associate for Regency Centers and leasing a portfolio of over 2.6 million square feet throughout the Chicagoland area and Minneapolis.
Prior to joining Regency Centers, Adam was a Senior Associate with CBRE and completed lease transactions with national, regional and local tenants.
Adam is an active member of ICSC and serves on the Next Generation National Leadership Board and as State Chair for Illinois.
Mr. Foret joined the team after serving as the Senior Leasing Associate for Regency Centers and leasing a portfolio of over 2.6 million square feet throughout the Chicagoland area and Minneapolis.
Prior to joining Regency Centers, Adam was a Senior Associate with CBRE and completed lease transactions with national, regional and local tenants.
Adam is an active member of ICSC and serves on the Next Generation National Leadership Board and as State Chair for Illinois.
ABOUT THE AUCTION TECHNOLOGY
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AUCTION CONTACT
Jameson Kuykendall
Contact
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MATTERPORT 3D EXTERIOR
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PHOTOS
STREET VIEW
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Recently Renovated High-Yield Retail Center | 402-440 N Weber Rd
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