1240 Hickory Point Mall - Department Store FOR SALE


Forsyth, IL 62535
$2,200,000 USD
626-236-3823
1240 Hickory Point Mall, Forsyth, IL for Sale
$2,200,000 USD
Department Store - FOR SALE
1/5
null | 7.25% Cap Rate

1240 Hickory Point Mall
Forsyth, IL 62535


OVERVIEW

Zero Landlord Responsibilities: Absolute NNN Ground Lease structure, with a tenant that has been in operation at this location since 1982. Below Market Rent: Current rent is significantly below market rent paying a mere $1.76 PSF, offering substantial future upside. Below Replacement Cost: At $24.31/SF, the acquisition price is significantly below replacement cost, offering strong upside and yield potential. Hedge Against Inflation: The lease provides for 10% rent increases every five years. The next scheduled bump is in 3.5 years, which will adjust the cap rate to approximately 8.8%. New Area Developments: Forsyth, IL is experiencing sustained commercial expansion. New developments such as Panda Express’ recently delivered outparcel and Chick-fil-A’s planned redevelopment of the former Applebee’s pad along U.S. Hwy 51 demonstrate strong tenant demand within the corridor. The area continues to attract national retailers including Starbucks, Five Below, Dollar General, Taco Bell, and Menards, reinforcing its position as a growing retail hub. Prime Lodging Hub: There are approximately 13 hotels in the city, making this the premier retail and hospitality node for the entire Decatur metro area, making it one of the strongest commercial trade areas in Central Illinois. Strategic Location: Kohl’s is located within Hickory Point Mall, the primary retail hub for Decatur, IL and the communities between Champaign and Springfield. The mall fronts US Route 51, a major north–south corridor with over 17,600 VPD, providing direct access to Downtown Decatur and to Bloomington. It also sits just a half-mile from the Route 51/Interstate 72 interchange, offering strong regional connectivity. Strong Regional Employers: Major employers in the area include Archer Daniels Midland, Caterpillar, Decatur Memorial Hospital, Decatur Public Schools, HSHS St. Mary’s Hospital, and Ameren Illinois.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$24 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kohl's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1983

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.8 AC

LAND SF

165,528 SF

ZONING

MUNICIPAL

APN/PARCEL ID

07-07-22-226-006

ASK ABOUT THIS PROPERTY

Dorothy LeeStream Capital PartnersMore Info
626-236-3823

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

Dorothy LeeStream Capital PartnersMore Info
626-236-3823

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