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200 - 298 Main Street - Downtown Park Forest - Building 1, Park Forest, IL

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200 - 298 Main Street - Downtown Park Forest - Building 1

Park Forest, IL 60466 - Far South Submarket

Property Type:Retail Sub Type:- Status:Existing Year Built:1952
Building Size:35,045 SF Land Area:.77 AC (33,611 SF)
For Sale Price:For Sale Price/SF:-
Cap Rate:-
Portfolio:This property is for sale as part of a portfolio of 3 properties. Parking:Free Surface spaces

Two story building. Twenty-one tenants including grocery store, dry cleaners, podiatrist, hair salons and art gallery. Multiple office tenants-computer services and health care field.

Sale Notes:
The building is a two-story 35,045 square foot, mixed-use investment opportunity in downtown Park Forest. The building consists of 20,414 square feet of ground floor retail space and 14,631 square feet of office space on the second floor. The building currently generates a gross income of approximately $180,396 annually. Factoring in property taxes and expenses, the existing net operating income (NOI) is approximately $57,223.
The ground floor of the building is currently 50% occupied and consists of all retail tenants. Of the tenants, all but one have NNN leases. In addition, all tenants have leases that that are signed through summer 2018. Retail tenants have the opportunity to put up signage directly above the entrance on the facade, providing for additional exposure to traffic. The vacancy on the ground floor provides value-add potential for an investor. Notable retailers in the building include Rinky's Cafe, Salon Artists, Oasis Hair, and Tower Cleaners.
The second floor of the building consists of all office tenants. The second level space is approximat

Frontline Real Estate Partners
Zack Pearlstein
(847) 275-6106

Andrew Rubin
(224) 628-4005

Matt Tarshis
(847) 542-9058

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