Investment Overview

Marcus & Millichap is pleased to offer the opportunity to purchase the fee simple interest in a 9,900-square foot retail center located at 1604 Sibley Blvd, Calumet City, IL. Positioned along Sibley Blvd, the property features exposure to 25,500 vehicles per day. The site is 100% percent occupied and listed at an attractive 9.00% percent CAP rate on in-place income. All tenants are on true NNN leases, reimbursing for their pro rata share of Real Estate Taxes, CAM, Insurance, Management and Administrative Fees. The tenants are synergistic in nature and cater to the surrounding market. With rents averaging $9.21/SF, and no specified option rents, there is room for a new landlord to run, as well as built in annual rent increases in the majority of the tenants’ leases. The demographics surrounding the property are especially dense, with almost 100,000 people within a 3-mile radius. The tenants also benefit from prominent pylon signage, as well as unrestricted ingress and egress from the property’s access points. The site is just west of the signalized intersection of Torrence and Sibley (41,000 combined traffic count), and east of a highly-trafficked Pete’s Fresh Market, which sees 1.1 million people per year. Priced at a 9.00% percent CAP rate and a price per square foot of $113, this is an opportunity to purchase a high-yield retail opportunity with landlord friendly NNN leases and plenty of room to grow the NOI over the near-term.