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Off Market
1/10

2352 172nd St
Lansing, IL 60438


HIGHLIGHTS

  • In-Place NOI of approximately $110,000 at 65% Occupancy
  • The center's largest tenant, Outriggers Steak & Seafood, has term through Sep 2025
  • Four (4) of the five (5) in-place tenants are on NNN leases
  • Surrounded by national retailers including The Home Depot, LA Fitness, Ross Dress For Less, and others

OVERVIEW

Multi-tenant retail center along Torrence Avenue, just south of Interstate 80 (I-80), in Lansing. The center is 23,000+ square feet and is 65.7% leased by a mix of Tenants including Outriggers, Boost Mobile, Check Into Cash, and others. The in-place NOI is approximately $110,000 at the 65% occupancy rate, providing value-add potential via lease-up and stabilization. The center features two (2) dual-sided pylon signs providing exposure to over 25,000 VPD, 100 parking spaces on-site, and benefits from neighboring national retailers along Torrence Avenue. Neighboring retailers include The Home Depot, Dollar General, Walmart, Sears, Culver's, Aldi, Sherwin Williams, and Firestone. The center also shares an easement with Wendy's to the north. Rare opportunity to purchase a cash flowing asset at an attractive cap rate with the ability to add value through lease-up and stabilization.

FOR SALE DETAILS

PRICE

-

CAP RATE

-

% LEASED

-

TENANCY

-

BUILDING DETAILS

PROPERTY NAME

Lansing Commons

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

23552

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

29-25-201-039-0000,29-25-201-041-0000