Investment Overview

Marcus & Millichap is pleased to exclusively offer a ground lease with a regional liquor store, offering attractive lease terms and extremely limited landlord responsibilities. The tenant has a long operating history, having been in operation at this location for over 10 years. It is an established tenant with seven additional locations in Illinois and Missouri. The property presents a covered land play opportunity, sitting on a 1.65-acre lot at a hard-corner, stoplight intersection at the entrance of Hickory Point Mall. The tenant is currently out of options, which could present potential future redevelopment opportunities for the site. As an outlot to Hickory Point Mall, a prominent retail destination in the area, the property benefits from high visibility and traffic. Major tenants at the mall include Von Maur, Hibbett Sports, Hobby Lobby, Kohl’s, Maurices, Ross, T.J. Maxx, Ulta Beauty, and Finish Line. Outlots at the mall feature popular establishments like Applebee’s, Texas Roadhouse, Panda Express (new construction), Red Lobster, AT&T, Taco Bell, and Subway. Hickory Point Mall had an impressive 2.5 million visits in the last 12 months, according to Placer.ai. The property is surrounded by strong retail drivers, including major retailers, numerous hotels, and a golf course. It is in close proximity to Menards, Lowe’s, Sam’s Club, Walmart Supercenter, Best Buy, PetSmart, and upcoming Starbucks and Five Below constructions in 2024. There are nearly 800 hotel rooms across 10 hotels within one mile of the property, with major hotels including Baymont by Wyndham, Holiday Inn & Suites, Hampton Inn, and Fairfield Inn. Additionally, the property is just 0.9 miles from Hickory Point Golf Course and Banquet Facility, further enhancing its appeal. The site boasts high visibility and accessibility from US-51 and is close to Interstate 72. With unobstructed frontage along US-51 and exposure to 24,400 vehicles per day, the property benefits from significant daily traffic. It is located just one mile from the Interstate 72 interchange, a major route connecting Decatur with Champaign and Springfield, Illinois. Surrounded by attractive, affluent demographics, nearly 40,000 people live within a five-mile radius, and 51,410 people work within the same area. The average household income within one mile of the property is $135,459.