Shopping Neighborhood
Infill Grocery Anchored Center
4800-4830 W Diversey Ave, Chicago, IL 60639
Listing Price: $11,000,000
Investment Overview
Marcus & Millichap is pleased to exclusively present an infill grocery anchored center in Chicago. Anchor tenant, Centro Fresh Market, has over 11 years remaining on their primary lease term. All tenants operate on net leases with scheduled rent increases. There is a stable tenant roster with long-term leases in place and an 8.7 Year WALT. The center was recently renovated including a full remodel with new facade and re-roof of the grocery store. The center is conveniently situated on a hard corner intersection with over 47,000 vehicles per day. The parking lot features surface spaces in front of every tenant and has three points of ingress/egress. An oversized, digital pylon is also located on the corner, angled for maximum visibility. Excellent demographics and many drivers surrounded subject property, locate just 9.9 miles from Downtown Chicago. There is a staggering population of almost 500,000 people within a three-mile radius.
Infill Grocery Anchored Center
Investment Highlights
- 100% Occupied Grocery Anchored Shopping Center | All Tenants Operate on Net Leases and Feature Scheduled Rent Increases
- Centro Fresh Market has Over 11 Years Remaining on their Primary Lease Term | Annual 1.5% Rental Increases in Base Term and Option Periods
- Stable Tenant Roster | Long-Term Leases in Place | Exceptional Weighted Average Lease Term (WALT) of 8.7 Years
- Fundamentally Strong Real Estate | Hard-Corner, Stoplight Intersection with Excellent Visibility and Large Lot | Oversized Digital Pylon Sign at the Hard Corner
- Staggering Population of Almost 500,000 People Within a Three-Mile Radius | Located Just 9.9 Miles From Downtown Chicago
Listing Price: $11,000,000
Investment Highlights
- 100% Occupied Grocery Anchored Shopping Center | All Tenants Operate on Net Leases and Feature Scheduled Rent Increases
- Centro Fresh Market has Over 11 Years Remaining on their Primary Lease Term | Annual 1.5% Rental Increases in Base Term and Option Periods
- Stable Tenant Roster | Long-Term Leases in Place | Exceptional Weighted Average Lease Term (WALT) of 8.7 Years
- Fundamentally Strong Real Estate | Hard-Corner, Stoplight Intersection with Excellent Visibility and Large Lot | Oversized Digital Pylon Sign at the Hard Corner
- Staggering Population of Almost 500,000 People Within a Three-Mile Radius | Located Just 9.9 Miles From Downtown Chicago
Investment Overview
Marcus & Millichap is pleased to exclusively present an infill grocery anchored center in Chicago. Anchor tenant, Centro Fresh Market, has over 11 years remaining on their primary lease term. All tenants operate on net leases with scheduled rent increases. There is a stable tenant roster with long-term leases in place and an 8.7 Year WALT. The center was recently renovated including a full remodel with new facade and re-roof of the grocery store. The center is conveniently situated on a hard corner intersection with over 47,000 vehicles per day. The parking lot features surface spaces in front of every tenant and has three points of ingress/egress. An oversized, digital pylon is also located on the corner, angled for maximum visibility. Excellent demographics and many drivers surrounded subject property, locate just 9.9 miles from Downtown Chicago. There is a staggering population of almost 500,000 people within a three-mile radius.
