1547-1557 S Lake Street - Retail FOR SALE


Mundelein, IL 60060
$14,838,000 USD
630-570-2260
1547-1557 S Lake Street, Mundelein, IL for Sale
$14,838,000 USD
Retail - FOR SALE
1/11
null | 8.01% Cap Rate

1547-1557 S Lake Street
Mundelein, IL 60060


HIGHLIGHTS

  • LA Fitness Anchored Retail Center with Long-Term Leases | 9.86-year WALT
  • All Tenants Operate Under a Net Lease with Scheduled Rental Increases In-Place
  • Located at the Signalized Intersection of S Lake Street and W Townline Road, Which sees a Combined Traffic Volume of 62,100 Vehicles per Day
  • Positioned within Townline Square Shopping Center, which Attracts Two Million Annual Visitors | Shadow Anchored by Jewel-Osco
  • 2.1 Miles from Hawthorn Mall which Attracts 2.8M Annual Visitors | Currently Undergoing a $250 Million Redevelopment Transformation
  • Average Household Income of $173,240 within a Five-Mile Radius

OVERVIEW

This regional shopping center is anchored by LA Fitness and features a 9.86-year weighted average lease term (WALT). Most tenants operate under long-term net leases, providing stable, predictable income. LA Fitness signed a 16-year lease in 2023, while Kids Empire and The Dog Stop each signed 10-year leases in 2024 and 2023, respectively. All leases include renewal options and scheduled rental increases. The property is part of Townline Square Shopping Center, which draws over two million annual visitors. LA Fitness is the most visited location for the brand within a 15-mile radius, outperforming nine other sites. Strategically positioned at a signalized intersection with traffic counts exceeding 60,000 vehicles per day, the site offers exceptional visibility and access. The center benefits from strong retail synergy and is located just minutes from the $250 million redevelopment of Hawthorn Mall. It sits within an affluent trade area, where the average household income reaches $173,240 within a five-mile radius.

FOR SALE DETAILS

PRICE

$14,838,000 USD

PRICE/SF

$166 USD /SF

CAP RATE

8.01%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LA Fitness Anchored Retail Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

404

LAND DETAILS

LAND ACRES

7.48 AC

LAND SF

325,829 SF

ZONING

-

APN/PARCEL ID

11-31-403-002-0000,15-06-204-003-0000

ASK ABOUT THIS PROPERTY

Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2260

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Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2260

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