Investment Overview

Marcus & Millichap is pleased to exclusively offer a shopping center with two new leases and three recent lease renewals, demonstrating a growing demand for the area among businesses and the center’s ability to attract and retain tenants. Tracy Nails, for example, has extended its lease for 10 years until 2033. Additionally, there is an opportunity to add value by leasing the remaining 5,847 vacant square feet, which include three vacant suites ranging from 1,007 square feet to 2,848 square feet. The shopping center boasts long-term tenancy with ideal tenants and favorable leasing terms. Six tenants have occupied their space for at least 10 years, while eight tenants have five to 10 years of term remaining. Furthermore, the center enjoys strong rental increases ranging from 1.5% annually to 10% every three years. Notably, it houses national tenants such as The Vitamin Shoppe, Wingstop, Subway, T-Mobile, Hertz, Fantastic Sams, and the U.S. Government. Located on a hard-corner with a heavily-traveled, stoplight intersection, the shopping center offers high visibility. The intersection of 95th Street and Ridgeland Avenue sees over 57,000 vehicles per day. With 363 feet of frontage along Ridgeland Avenue and 297 feet of frontage along 95th Street, the center maximizes exposure. Additionally, it features a large parking lot with access from West 95th Street and Ridgeland Avenue, providing 158 surface spaces. Situated across from the Chicago Ridge Mall, the shopping center benefits from its proximity to a high-traffic area. The mall recorded 3.5 million visits in the last 12 months according to Placer.ai. Notable tenants at the mall include ALDI, AMC, Kohl's, Sephora, H&M, Express, Dick's Sporting Goods, AKIRA, American Eagle, and more. The shopping center enjoys a dense, infill location and caters to a large student population. Within a five-mile radius of the subject property, 373,134 people reside, while 157,437 people work within three miles. These demographics contribute to the center's potential customer base and market viability.