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Shopping Strip

Montgomery Center

1611-1617 Douglas Rd, Montgomery, IL 60538

Listing Price: $550,000

Gross SF
14,000
Rentable SF
14,000
Price/Gross SF
$39.29
Lot Size
1.73 acres
Year Built
1996

Investment Overview

Marcus & Millichap proudly presents Montgomery Center, a 13,900-square foot strip center located on Douglas Road in Montgomery, Illinois. The Montgomery Center sits two blocks south of Highway 30, a main east-west route that connects U.S. 34 and State Route 31. The property is situated on the main retail corridor with traffic counts in excess of over 18,000 vehicles per day and is surrounded by a number of retailers including Walgreens, Dairy Queen, Wendy’s, Planet Fitness, Blain’s Farm & Fleet, and Jewel-Osco, among others. The property offers an investor the opportunity to acquire a value-add strip center priced at only $39.93 PSF. The center is currently 18.7% occupied due to the seller having no further interest in signing any new leases and ownership wanting to provide a new owner the ability to shape the center as they see fit. The pro-forma rental rates used in this analysis (see note page) are based on the activity received by the leasing company on the two vacant spaces. Montgomery is a village in Kane and Kendall counties, Illinois, as well as a Chicago suburb. The population was 20,262 at the 2020 census. Between 2000 and 2010 the village population grew 237 percent, making Montgomery the ninth fastest-growing municipality in Illinois during the decade.

Investment Highlights

  • Huge Value-Add Opportunity | Priced at $39.94 PSF | Well Below Replacement Cost
  • Low Kendall County Taxes
  • Located within Main Retail Corridor along Douglas Road (Over 18,000 VPD)
  • A Number of Potential Tenants Interested in Leasing the Vacant Spaces
  • Assuming a New Owner Can Lease the Vacant Spaces at the Pro-Forma Numbers, a new Owner Should be able to Achieve an 18.77% Cash-On Cash Return

Exclusively Listed By

Shopping Strip

Montgomery Center

Listing Price: $550,000

Gross SF
14,000
Rentable SF
14,000
Price/Gross SF
$39.29
Lot Size
1.73 acres
Year Built
1996

Investment Highlights

  • Huge Value-Add Opportunity | Priced at $39.94 PSF | Well Below Replacement Cost
  • Low Kendall County Taxes
  • Located within Main Retail Corridor along Douglas Road (Over 18,000 VPD)
  • A Number of Potential Tenants Interested in Leasing the Vacant Spaces
  • Assuming a New Owner Can Lease the Vacant Spaces at the Pro-Forma Numbers, a new Owner Should be able to Achieve an 18.77% Cash-On Cash Return

Investment Overview

Marcus & Millichap proudly presents Montgomery Center, a 13,900-square foot strip center located on Douglas Road in Montgomery, Illinois. The Montgomery Center sits two blocks south of Highway 30, a main east-west route that connects U.S. 34 and State Route 31. The property is situated on the main retail corridor with traffic counts in excess of over 18,000 vehicles per day and is surrounded by a number of retailers including Walgreens, Dairy Queen, Wendy’s, Planet Fitness, Blain’s Farm & Fleet, and Jewel-Osco, among others. The property offers an investor the opportunity to acquire a value-add strip center priced at only $39.93 PSF. The center is currently 18.7% occupied due to the seller having no further interest in signing any new leases and ownership wanting to provide a new owner the ability to shape the center as they see fit. The pro-forma rental rates used in this analysis (see note page) are based on the activity received by the leasing company on the two vacant spaces. Montgomery is a village in Kane and Kendall counties, Illinois, as well as a Chicago suburb. The population was 20,262 at the 2020 census. Between 2000 and 2010 the village population grew 237 percent, making Montgomery the ninth fastest-growing municipality in Illinois during the decade.

Exclusively Listed By

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