2320 Lincoln Hwy - Storefront Retail/Office FOR SALE


New Lenox, IL 60451
$4,430,740 USD
847-651-3697
2320 Lincoln Hwy, New Lenox, IL for Sale
$4,430,740 USD
Storefront Retail/Office - FOR SALE
1/11
null | 6.75% Cap Rate

2320 Lincoln Hwy
New Lenox, IL 60451


HIGHLIGHTS

  • Recent Leasing Momentum Highlighting Retail Fundamentals + Strong Tenant Performance
  • New Lenox is located in Will County, which has considerably less tax exposure than neighboring Cook County.
  • Value-Add Lease Up Potential:
  • Service-Oriented And Internet-Resistant Tenant Line-Up
  • Impressive Placer.Ai Performance
  • Shadow-Anchored by Target

OVERVIEW

CBRE is pleased to present the Shops of New Lenox, a 15,080 SF strip center located in the affluent New Lenox, IL. Shops of New Lenox has experienced 7,398 SF of leasing activity that future investors can compound on via the lease-up of one available suite totaling 1,623 SF. Currently, the Property is 89.2% occupied and benefits from its proximity to New Lenox Retail Center, a high-traffic shopping center with over 2.4 million visits. The Property’s strong placement is further amplified by its visibility on the south side of Lincoln Highway, a primary thoroughfare running east-west. Traffic counts in front of the Property are excellent, exceeding 27,300 vehicles traveling daily. Shops of New Lenox provide a compelling opportunity for the future owner to purchase a strip center with embedded upside, a prime location within a successful shopping center, and a submarket with excellent demographics poised for continued growth and development. The Property’s impressive leasing and performance over the past 3 years highlight the desirability of the tenants to remain in this submarket, thanks to the strong purchasing power of the New Lenox residents.

FOR SALE DETAILS

PRICE

$4,430,740 USD

PRICE/SF

$294 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shops of New Lenox

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.53 AC

LAND SF

66,647 SF

ZONING

C3

APN/PARCEL ID

15-08-24-106-016

ASK ABOUT THIS PROPERTY

Adam ForetCBREMore Info
847-651-3697

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Adam ForetCBREMore Info
847-651-3697

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