2-16 Tyler Creek Plz - Retail FOR SALE


Elgin, IL 60123- Century Oaks
$3,324,000 USD
630-570-2238
2-16 Tyler Creek Plz, Elgin, IL for Sale
$3,324,000 USD
Retail - FOR SALE
1/9
null | 7.5% Cap Rate

2-16 Tyler Creek Plz
Elgin, IL 60123
Century Oaks


HIGHLIGHTS

  • 100 Percent Occupied by Restaurant and Service Based Tenants
  • #1 Ranked Wingstop in the State And Top Two Percent Nationwide (Placer.ai) | Rosati’s Pizza has Been a Tenant for Over 42 Years and Has 7 Years Left
  • All Tenants Operate Under Net Leases with Management Fee Reimbursement
  • Wingstop Offers 15 Percent Rent Increases Every Five Years While the Balance of Tenants Have Three Percent Annual Rent Increases
  • Part of the Greater Tyler Creek Plaza, Anchored by Grocer, Frank’s Freshway Market | Recently Remodeled
  • Surrounded By Elgin’s Industrial Corridors | Large Employment Area with 87,537 People Working Within a Three-Mile Radius

OVERVIEW

Investors are offered the opportunity to acquire a five-tenant grocery shadow anchored strip center located in Elgin, IL (Kane County). Tyler Creek Plaza is shadow anchored by Frank’s Freshway Market, a local family-owned chain of grocery stores. Frank’s Freshway market recently completed a major remodel of the store and helps provide consistent foot traffic to the tenants of Tyler Creek Plaza. The property features an ideal mix of three restaurants, one specialty grocer/restaurant and one service tenant. Rosati’s Pizza, a well-known Chicagoland staple, has been a cornerstone of the property for over 40 years. Wingstop anchors the west end cap and according to Placer ai, the Elgin location is the #1 visited Wingstop in the State of Illinois. The Property features excellent fundamentals as all tenants operate under net leases with management fee reimbursement. A majority of the tenant leases contain annual rent increases, providing an investor with a strong hedge against inflation. In addition, Tyler Creek Plaza patrons have full access to parking on the adjacent parcels, including the Frank’s Freshway Market parcel. The trade area is defined by Elgin’s dense industrial corridors, providing a deep and durable daytime employment base of nearly 88,000 workers within three miles, a clear benefit to the restaurants. The property sits 1.4 miles from Interstate 90 (108,800 vehicles per day) and one mile from the MD-W Metra station, which serves more than 2.7 million annual riders. The broader trade area is home to over 171,000 residents within five miles, a population that grew 4.9 percent over the prior decade and continues on a projected growth trajectory.

FOR SALE DETAILS

PRICE

$3,324,000 USD

PRICE/SF

$258 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tyler Creek Plaza

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

57

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

-

APN/PARCEL ID

06-03-376-020

ASK ABOUT THIS PROPERTY

Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2238

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Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2238

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