info This space is no longer listed on Digsy
View other spaces in this property

or Browse more properties in Melrose Park

Available For Sale - Retail

6,950 SF | Show Pricing $

AVAILABILITY DETAILS

Size
6,950 SF
Price/SF
Show Pricing $
Listing ID
SA422882
Notes
Minimum Bid/Published Reserve Price: $999,000



Buyer's Premium: 6%



Cooperating Broker's Commission: 2%



Lot Size: Approx. .4616 Acres



Building Size: Approx. 6,950 SF



Parking Ratio: 5.34/1,000 SF



2019 Taxes: $44,538.16



PIN #: 12-29-311-021-0000



Zoning: C-4; General Commercial District



Traffic Count: 29,600 VPD



Cap Rate: 9.5%



NOI: $95,000



This well located strip center with six (6) retail units is in a high traffic location and has an attractive NOI of $95,000. This property has long term tenants and a stable rental history. Even during COVID-19, all tenant rents have been current. Four (4) of the six (6) tenants have recently renewed their leases. Lease expirations range from 2022-2028. Two (2) of the tenants have gaming licenses, which provides added value for stability. This property also features a new parking lot (2019). All roof and mechanicals have been routinely maintained and/or updated in the last five (5) years.



Melrose Park is located approximately 15 miles northwest of downtown Chicago. The property is accessible via I-294 at the West Lake Street Exit, 2.6 miles south of the subject property. O' Hare International Airport is located just 10 minutes from the property.



ABSOLUTELY NO SOLICITATION OFTHE TENANTS; ALL PROPERTY INQUIRES MUST BE PRESENTED TO AUCTIONWORKS



•Online Auction Bidding Starts at 11 AM CST Wednesday, August 26, 2020 and ends Friday, August 28, 2020, 11 AM CST

•Minimum Bid/Published Reserve Price: $999,000.00

•Buyer's Premium: 6%

•Cooperating Broker's Commission: 2%

•Pre-Auction Bids Highly Encouraged!
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Diana Peterson, AW Properties Global