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Off Market
1/11

127th & Ridgeland Ave
Palos Heights, IL 60463


HIGHLIGHTS

  • Flexible anchor opportunity, increasing NOI beyond the current $825,000 NOI
  • Nearby businesses include Chase, Walgreens and more
  • Value add opportunity through increased rates and leasing available units from 900 to 4,800 sf
  • Traffic Count: 39,800: 16,400 on 127th; 23,400 on Ridgeland Ave
  • City Incentives

OVERVIEW

A 136,000 square foot retail shopping center, on 11.3 acres at the corner of Ridgeland and 127th Street, is available for sale. The center is 88.6% leased to a number of well-known regional and national tenants including Ace Hardware, Charter Fitness and Aurelio’s Pizza. Dominick's continues to pay rent at on their vacant space. The new owner has the option of accepting a lease buyout, for the remaining 16 months of Dominick's lease, or continuing to cash flow the space for approximately 16 months. This property has great potential to add revenue by increased leased rates (which are currently under market) and by leasing available units, which range between 900 and4,800 square feet. Palos Heights is a town in the southwest suburbs of Chicago. The city is a dynamic community with attractive retail and commercial space located along major streets such as Ridgeland and Harlem Avenues. 127th Street is a major commercial thoroughfare for Palos Heights, Palos Park, Alsip, Crestwood and offers easy access to major expressways; valuable for destination stores, restaurants, etc.

FOR SALE DETAILS

PRICE

-

CAP RATE

-

% LEASED

-

TENANCY

-

BUILDING DETAILS

PROPERTY NAME

Prime Suburban Shopping Center, Palos Heights

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Storefront Retail/Office, Supermarket

TOTAL BUILDING SIZE

136000

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

730

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

24-31-201-011-0000