Shopping Strip
Chase Bank Anchored Center
350 E 162nd St, South Holland, IL 60473
Listing Price: $2,018,365
Investment Overview
Marcus & Millichap is pleased to offer for sale this Chase Bank Anchored, two-tenant retail center located at 350 East 162 Street in South Holland, Illinois. The property sits next door to a Walgreens on a 0.57-acre parcel with ample parking and 6,000-square feet of rentable space. The high image building was constructed in 2007 and offers a drive-thru for the dry-cleaner tenant. The parking lot was recently re-surfaced/sealed and striped. All new LED parking lot lighting was installed, lowering utility costs. The building also benefits from an all brick exterior, providing low maintenance. The anchor tenant, JPMorgan Chase (Standard & Poor’s: A-), recently executed a five-year lease extension demonstrating their commitment to this location. The bank has a strong deposit base of $74.59 million. Chase is operating on a NNN lease with ten percent rent increases scheduled to begin every five years. CD One Price Cleaners is a dry-cleaning franchise with over 40 locations, with plans to expand even further in the Midwest. The tenant has approximately nine years of term remaining on their gross lease, featuring attractive three percent annual rent increases. This is a drop-off and pick-up location. Tenant does not do dry cleaning on-site. This center is strategically located near the corner of East 162 Street and South Park Avenue with combined traffic counts of over 41,500 vehicles per day. The area benefits from a densely populated market with 50,490 full-time residents in a five-mile radius. The average household income within a mile of the asset exceeds $84,000 per year.
Investment Highlights
- Rare Chase Bank Anchored Center (S&P A-) | Recent Five-Year Lease Extension Strong Deposit Base ($74.59 Million)
- CD One Price Cleaners Drop-Off & Pick-Up Location
- Drive-Thru Property | Demand is at an All Time High
- No Capex | Low Maintenance | Pride of Ownership
- New LED Parking Lot Lights | Lower Utility Costs • New Parking Lot Re-Surfacing, Sealing & Striping
- Densely Populated Market | 250,490 Full-Time Residents Within Five Miles
- Average Household Income Exceeds $84,000 in a One-Mile Radius
- 20-Minute Drive to Downtown Chicago | Three Miles from Chicago's 7th Largest Shopping Mall | 1.38 Million Square-Feet
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
First Vice President / Regional Manager / Designated Managing Broker
Listing Price: $2,018,365
Investment Highlights
- Rare Chase Bank Anchored Center (S&P A-) | Recent Five-Year Lease Extension Strong Deposit Base ($74.59 Million)
- CD One Price Cleaners Drop-Off & Pick-Up Location
- Drive-Thru Property | Demand is at an All Time High
- No Capex | Low Maintenance | Pride of Ownership
- New LED Parking Lot Lights | Lower Utility Costs • New Parking Lot Re-Surfacing, Sealing & Striping
- Densely Populated Market | 250,490 Full-Time Residents Within Five Miles
- Average Household Income Exceeds $84,000 in a One-Mile Radius
- 20-Minute Drive to Downtown Chicago | Three Miles from Chicago's 7th Largest Shopping Mall | 1.38 Million Square-Feet
Investment Overview
Marcus & Millichap is pleased to offer for sale this Chase Bank Anchored, two-tenant retail center located at 350 East 162 Street in South Holland, Illinois. The property sits next door to a Walgreens on a 0.57-acre parcel with ample parking and 6,000-square feet of rentable space. The high image building was constructed in 2007 and offers a drive-thru for the dry-cleaner tenant. The parking lot was recently re-surfaced/sealed and striped. All new LED parking lot lighting was installed, lowering utility costs. The building also benefits from an all brick exterior, providing low maintenance. The anchor tenant, JPMorgan Chase (Standard & Poor’s: A-), recently executed a five-year lease extension demonstrating their commitment to this location. The bank has a strong deposit base of $74.59 million. Chase is operating on a NNN lease with ten percent rent increases scheduled to begin every five years. CD One Price Cleaners is a dry-cleaning franchise with over 40 locations, with plans to expand even further in the Midwest. The tenant has approximately nine years of term remaining on their gross lease, featuring attractive three percent annual rent increases. This is a drop-off and pick-up location. Tenant does not do dry cleaning on-site. This center is strategically located near the corner of East 162 Street and South Park Avenue with combined traffic counts of over 41,500 vehicles per day. The area benefits from a densely populated market with 50,490 full-time residents in a five-mile radius. The average household income within a mile of the asset exceeds $84,000 per year.
Exclusively Listed By
Broker of Record
-
Steven D. Weinstock
First Vice President / Regional Manager / Designated Managing Broker

