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Tinley Pointe Centre 7020-7086 W 183rd St 8 Unit Apartment Building For Sale Tinley Park, IL 60477
INVESTMENT HIGHLIGHTS
- Modern mixed-use construction (2007) with strong curb appeal makes the property attractive to tenants and prospective customers
- Neighborhood retail internet-proof tenant mix
- Triple Net Leases minimize Landlord responsibility
- High Traffic, Strong Demographics
- Drive through Dunkin' Donuts
- Common Area expenses are shared with the residential condo units above
EXECUTIVE SUMMARY
Farbman Group of Chicago is pleased to present for sale Tinley Pointe Centre in Tinley Point, Illinois, an 18,214 SF retail condo situated at the base/1st floor of a four-story, 36-unit individually owned residential condo. Constructed in 2007, the property's strong curb appeal positioning it as a stable, long-term asset. The property is situated in a high-traffic area with strong demographics, ensuring a steady customer base for tenants. A key feature is the "internet-proof" tenant mix, including a drive-through Dunkin' Donuts. The new owner will benefit from Triple Net (NNN) leases, which significantly reduce landlord responsibilities and make operating expenses predictable.
Furthermore, common area expenses are shared with the 36 residential condo units located above the retail space, further reducing overhead. The property is cash flow positive, and a significant upside exists with over 7,500 square feet across 3 suites available for lease. Securing tenants for this vacant space will substantially increase the net operating income (NOI) and asset value. An additional opportunity to improve NOI lies in the potential for a property tax appeal.
In summary, this investment offers a modern, well-maintained asset with a resilient tenant mix, strong cash flow, and significant long-term upside through lease-up and potential tax savings.
Furthermore, common area expenses are shared with the 36 residential condo units located above the retail space, further reducing overhead. The property is cash flow positive, and a significant upside exists with over 7,500 square feet across 3 suites available for lease. Securing tenants for this vacant space will substantially increase the net operating income (NOI) and asset value. An additional opportunity to improve NOI lies in the potential for a property tax appeal.
In summary, this investment offers a modern, well-maintained asset with a resilient tenant mix, strong cash flow, and significant long-term upside through lease-up and potential tax savings.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 2.69 AC |
| Sale Condition | REO Sale | Building Size | 18,214 SF |
| No. Units | 8 | Average Occupancy | 58% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2007 |
| Apartment Style | Mid-Rise | Parking Ratio | 11.8/1,000 SF |
| Building Class | B | ||
| Zoning | B3, PD - Community Shopping District | ||
| Sale Type | Investment |
| Sale Condition | REO Sale |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 2.69 AC |
| Building Size | 18,214 SF |
| Average Occupancy | 58% |
| No. Stories | 1 |
| Year Built | 2007 |
| Parking Ratio | 11.8/1,000 SF |
| Zoning | B3, PD - Community Shopping District |
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Tinley Pointe Centre | 7020-7086 W 183rd St
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