11859 Southwest Hwy - Drug Store FOR SALE


Palos Heights, IL 60463
$3,400,000 USD
630-235-3319
11859 Southwest Hwy, Palos Heights, IL for Sale
$3,400,000 USD
Drug Store - FOR SALE
1/5
null | 5.99% Cap Rate

11859 Southwest Hwy
Palos Heights, IL 60463


HIGHLIGHTS

  • Long term single tenant CVS Ground Lease property, bring all offers
  • Lease expires January 31, 2036 with (8) five year options with 10% increases in each option.
  • Excellent demographics with over $145,000 average family income within a three mile radius.
  • Over 41,800 VPD at the intersection.
  • The property is in the middle of an established area surrounded by tremendous growth and affluent neighborhoods.
  • Located directly on the high traffic signalized hard corner of a five way interchange of Southwest Hwy (IL Route 7), IL Route 83 and 80th Avenue.

OVERVIEW

Located at the NEC of IL Route 83 and Southwest Hwy (IL Route 7) in Palos Heights, IL (suburban Chicago). ANNUAL RENT: $203,500, owner wants offers Lease expiration:  January 31, 2036 with (8) 5-year options with 10% increases Absolute NNN - NO LANDLORD MANAGEMENT OBLIGATIONS Fixed 10% rental increases in each of the options. No debt to assume. Over 41,800 VPD at the intersection. Over $120,000 average household income within a three mile radius.

FOR SALE DETAILS

PRICE

$3,400,000 USD

PRICE/SF

$283 USD /SF

CAP RATE

5.99%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

B

APN/PARCEL ID

23-24-300-035-0000,23-24-300-337-0000

ASK ABOUT THIS PROPERTY

Jeffrey KowalEdgemark Commercial Real Estate Services LLCMore Info
630-235-3319

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Jeffrey KowalEdgemark Commercial Real Estate Services LLCMore Info
630-235-3319

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.