Investment Overview

Marcus & Millichap is pleased to exclusively offer a six-tenant, unanchored strip center in Schiller Park, Illinois. The property features a variety of service-based tenants, including the highly rated Shoeless Joe's Restaurant, which boasts a 4.3 out of 5 stars on Google Reviews. The tenant mix is complementary, benefiting from a prime location near O'Hare Airport and Schiller Park's Industrial Park. Five of the tenants operate on net leases, while one operates on a modified gross lease with a real estate tax base stop. The majority of tenant leases also include annual rent increases ranging from 2% to 5%, ensuring long-term stability for the property. The real estate fundamentals of this property are exceptional. Positioned along River Road with high traffic volume—approximately 25,800 vehicles pass by daily—the property enjoys prominent visibility and accessibility. The zoning is rare and flexible, allowing for both retail and industrial use, which is advantageous for both the landlord and tenants. Despite limited parking availability in the submarket, the property offers substantial parking with 82 surface spaces. The building setback is nearly twice the level of several nearby properties, further enhancing its appeal. Additionally, the submarket is incredibly tight, with low vacancy and minimal available land for new development. Located in a dense, infill area, the property benefits from a high daytime population and significant traffic drivers. Over 406,000 people reside within a five-mile radius, with an average household income exceeding $103,000. The daytime population of nearly 150,000 further supports a steady stream of potential customers. The property is conveniently located just 0.9 miles from the Interstate 294 interchange and 1.2 miles from Interstate 190, providing easy access for visitors and employees alike. The property's proximity to Rosemont’s main convention and entertainment district adds to its appeal. It is just 0.6 miles from the Fashion Outlets of Chicago, a luxury outlet mall with over 130 stores, including Gucci, Versace, and Armani, attracting 4.7 million visitors annually. The Donald E. Stephens Convention Center, located 0.75 miles away, hosts over 200 tradeshows and conventions each year, drawing approximately 1.35 million visitors. The Parkway Bank Park Entertainment District, also 0.75 miles away, features a 200,000-square-foot complex with 15 dining and entertainment venues. Additionally, Impact Field, home of the Chicago Dogs baseball team, is just 1 mile from the property, while 20 major hotels are located nearby, further solidifying the property's strategic location.