Shopping Strip
Evergreen Promenade
2603 W 95th St, Evergreen Park, IL 60805
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to exclusively present Evergreen Promenade, a 91% occupied three-unit outparcel with a stable cash flow and value-add upside. This center is anchored by PetSmart. PetSmart extended early though 2035, showing further commitment to this site. Investors are provided the opportunity to achieve a five-year NOI CAGR of 5% with the lease up of one 1,602-square foot vacancy and bring the property to stabilization. This location is a dominant traffic driver and shadowed by a high performing Mariano’s location that sees over 1.3 million guests annually. This property is surrounded by a dense, urban infill location, with 224,000 residents within a three-mile radius. It has signalized access on a prominent retail node with 26,000 vehicles per day, and just one block from an intersection that sees nearly 55,000 vehicles per day. Subject property is situated within a highly frequented retail and medical corridor. This property comes with low future capital expenditures and limited ownership responsibility. The center was newly developed in 2014 and is institutionally managed to date.
Evergreen Promenade
Investment Highlights
- Stable Cash Flow with Value-Add Upside | Five-Year NOI CAGR of 5%
- Three-Unit Outparcel 91% Occupied
- PetSmart Extended Early Through 2035 | 10.5 Year WALT
- Dominant Traffic Driver | Shadowed by a High Performing Mariano's that Saw Over 1.3 Million Guests in the Past Year and is Ranked in the Top 25% of the Brand Chain per Creditntell
- Prime Infill Location | 224K Residents Within a Three-Mile Radius
- Signalized Access on Prominent Retail Node | 26,000 Vehicles per Day
- Located Within a Highly Frequented Retail and Medical Corridor
- Low Future Capital Expenditures and Limited Ownership Responsibility
Listing Price: Request For Offer
Investment Highlights
- Stable Cash Flow with Value-Add Upside | Five-Year NOI CAGR of 5%
- Three-Unit Outparcel 91% Occupied
- PetSmart Extended Early Through 2035 | 10.5 Year WALT
- Dominant Traffic Driver | Shadowed by a High Performing Mariano's that Saw Over 1.3 Million Guests in the Past Year and is Ranked in the Top 25% of the Brand Chain per Creditntell
- Prime Infill Location | 224K Residents Within a Three-Mile Radius
- Signalized Access on Prominent Retail Node | 26,000 Vehicles per Day
- Located Within a Highly Frequented Retail and Medical Corridor
- Low Future Capital Expenditures and Limited Ownership Responsibility
Investment Overview
Marcus & Millichap is pleased to exclusively present Evergreen Promenade, a 91% occupied three-unit outparcel with a stable cash flow and value-add upside. This center is anchored by PetSmart. PetSmart extended early though 2035, showing further commitment to this site. Investors are provided the opportunity to achieve a five-year NOI CAGR of 5% with the lease up of one 1,602-square foot vacancy and bring the property to stabilization. This location is a dominant traffic driver and shadowed by a high performing Mariano’s location that sees over 1.3 million guests annually. This property is surrounded by a dense, urban infill location, with 224,000 residents within a three-mile radius. It has signalized access on a prominent retail node with 26,000 vehicles per day, and just one block from an intersection that sees nearly 55,000 vehicles per day. Subject property is situated within a highly frequented retail and medical corridor. This property comes with low future capital expenditures and limited ownership responsibility. The center was newly developed in 2014 and is institutionally managed to date.
