We are proud to present the opportunity to acquire a value-add investment property including a 40,850 square foot multi-tenant retail center and three undeveloped outlots positioned in a strong, transit-oriented location in the Chicago suburb of Hickory Hills. This property offers tremendous upside and future NOI growth through the potential for development of the outlots. Furthermore, new ownership can add value by repositioning the below-market gross leases into NNN market rents. 87th Plaza contains 40,850 square feet and is situated on approximately 6.26 acres. At the southwest corner of 87th Street and 88th Avenue just south of I-294, the center benefits greatly from its position next to CVS and Shell Gas Station across from Hickory Hills Police Department. Anchored by recently-renewed variety store chain, Dollar General, the center is fully occupied by many internet-resistant tenants on long-term leases. Differentiated businesses and contrasting rush hours allow for an ideal synergy and mutual benefit across the property. The brick construction building has been beautifully maintained and offers its visitors 242 parking spots in a landscaped and well-kept lot. Three entrances on two separate roads aid traffic flow and allow tenants to operate smoothly. Cross access with CVS and Shell allows for entry for those customers as well. This asset has tremendous upside potential through future development and repositioning of the property.
Based on information submitted to the MLS GRID as of 05/15/2024 12:50 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.
