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Shopping Neighborhood

Class A Neighborhood Center

3091 US-20, Elgin, IL 60124

Listing Price: $9,700,000

Cap Rate
7.43%
Gross SF
40,094
Rentable SF
40,094
Price/Gross SF
$241.93
Lot Size
5.26 acres
Year Built
2016

Investment Overview

Opportunity to acquire a two-building, high quality construction neighborhood center, that is being offered below replacement cost with limited competition. There is an excellent mix of tenants including restaurants, salons, financial services, and more. 11 tenants have been occupying the space since 2015 or earlier with many tenants offering annual rental increases. Only one tenant did not survive during covid and all tenants are paying full rent and increases per the lease. There is an opportunity to lease the remaining 4,606 square feet of vacant space. The subject property is located in an affluent, populated area on the heavily traveled Route 20 with over 31,175 vehicles passing per day. Projected growth for the area is 4% in the next five years. The property is situated two miles from AMITA Health Saint Joseph Hospital Elgin with 184 beds and four miles from Elgin Community College with over 16,000 students.

Investment Highlights

  • Two-Building, High-Quality Construction Multi-Tenant Center
  • Excellent Tenant Mix Featuring Restaurants, Salons, Financial Services, and More
  • Offered Below Replacement Cost
  • Attractive Lease Terms with Long Operating History | 11 Tenants have Been Occupying Space at the Center Since 2015 or Earlier
  • Limited Competition | Only Shopping Center in the Immediate Area
  • Opportunity to Add Value by Leasing Remaining 4,606 Square Feet of Vacant Space

Exclusively Listed By

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

Shopping Neighborhood

Class A Neighborhood Center

Listing Price: $9,700,000

Cap Rate
7.43%
Gross SF
40,094
Rentable SF
40,094
Price/Gross SF
$241.93
Lot Size
5.26 acres
Year Built
2016

Investment Highlights

  • Two-Building, High-Quality Construction Multi-Tenant Center
  • Excellent Tenant Mix Featuring Restaurants, Salons, Financial Services, and More
  • Offered Below Replacement Cost
  • Attractive Lease Terms with Long Operating History | 11 Tenants have Been Occupying Space at the Center Since 2015 or Earlier
  • Limited Competition | Only Shopping Center in the Immediate Area
  • Opportunity to Add Value by Leasing Remaining 4,606 Square Feet of Vacant Space

Investment Overview

Opportunity to acquire a two-building, high quality construction neighborhood center, that is being offered below replacement cost with limited competition. There is an excellent mix of tenants including restaurants, salons, financial services, and more. 11 tenants have been occupying the space since 2015 or earlier with many tenants offering annual rental increases. Only one tenant did not survive during covid and all tenants are paying full rent and increases per the lease. There is an opportunity to lease the remaining 4,606 square feet of vacant space. The subject property is located in an affluent, populated area on the heavily traveled Route 20 with over 31,175 vehicles passing per day. Projected growth for the area is 4% in the next five years. The property is situated two miles from AMITA Health Saint Joseph Hospital Elgin with 184 beds and four miles from Elgin Community College with over 16,000 students.

Exclusively Listed By

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

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