Shopping Strip
Dempster Commons (Add-Value Opportunity)
3552 Dempster St, Skokie, IL 60076
Listing Price: $556,000
Investment Overview
Marcus & Millichap proudly presents Dempster Commons, an 8,000-square-foot strip center in Skokie, Illinois. The property is on the main retail corridor with traffic counts, exceeding 22,700 vehicles per day. The property is surrounded by several established, retailers including Walgreens, Dunkin' Donuts, Dollar Tree, and Athletico.
This value-added opportunity is priced at $69.50 per square foot, offering an 8.19 percent return on investment. The six-tenant center is 87.5 percent occupied, with two tenants purposely on month-to-month leases, allowing a new owner to increase cash flow by structuring new leases. The pro-forma assumes the one vacant space is leased at $10.00 a square foot triple-net, with all other tenants’ lease rates and reimbursements remaining the same. By doing this, an investor could get up to an 11.16 percent return on their investment.
Skokie boasts an array of dining options, unique shops, and entertainment venues, all complemented by extensive public transportation. The Skokie Swift CTA Yellow Line train, CTA PACE bus routes, and three full expressway interchanges provide quick access to downtown Chicago, O'Hare International Airport, and the surrounding North Shore suburbs.
Dempster Commons (Add-Value Opportunity)
Investment Highlights
- Value-Add Opportunity | Priced at $69.50 per Square Foot | Priced Well Below Replacement Cost
- The Two Tenants that are on Month-to-Month Leases are willing to Sign Extensions
- Assuming a New Investor can Lease the One Vacant Space at $10.00 Triple-Net, and all Other Things Remain the Same, a New Investor Should Achieve an 11.16 Percent Return at the List Price
- Strong Demographics Average Household Income in a One-Mile Radius $157,557 | 341,366 People in a Three-Mile Radius | Traffic Exceeding 22,700 Vehicle per Day
- Exceptional Frontage on Dempster Street with Two Points of Ingress and Egress, both Providing Full Access
Exclusively Listed By
Listing Price: $556,000
Investment Highlights
- Value-Add Opportunity | Priced at $69.50 per Square Foot | Priced Well Below Replacement Cost
- The Two Tenants that are on Month-to-Month Leases are willing to Sign Extensions
- Assuming a New Investor can Lease the One Vacant Space at $10.00 Triple-Net, and all Other Things Remain the Same, a New Investor Should Achieve an 11.16 Percent Return at the List Price
- Strong Demographics Average Household Income in a One-Mile Radius $157,557 | 341,366 People in a Three-Mile Radius | Traffic Exceeding 22,700 Vehicle per Day
- Exceptional Frontage on Dempster Street with Two Points of Ingress and Egress, both Providing Full Access
Investment Overview
Marcus & Millichap proudly presents Dempster Commons, an 8,000-square-foot strip center in Skokie, Illinois. The property is on the main retail corridor with traffic counts, exceeding 22,700 vehicles per day. The property is surrounded by several established, retailers including Walgreens, Dunkin' Donuts, Dollar Tree, and Athletico. This value-added opportunity is priced at $69.50 per square foot, offering an 8.19 percent return on investment. The six-tenant center is 87.5 percent occupied, with two tenants purposely on month-to-month leases, allowing a new owner to increase cash flow by structuring new leases. The pro-forma assumes the one vacant space is leased at $10.00 a square foot triple-net, with all other tenants’ lease rates and reimbursements remaining the same. By doing this, an investor could get up to an 11.16 percent return on their investment. Skokie boasts an array of dining options, unique shops, and entertainment venues, all complemented by extensive public transportation. The Skokie Swift CTA Yellow Line train, CTA PACE bus routes, and three full expressway interchanges provide quick access to downtown Chicago, O'Hare International Airport, and the surrounding North Shore suburbs.
Exclusively Listed By
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