Skip to main content

Shopping Community

Jackson Plaza

939 W Jackson St, Morton, IL 61550

Listing Price: $1,600,000

Cap Rate
6.24%
Gross SF
20,200
Rentable SF
20,200
Price/Gross SF
$79.21
Lot Size
2.30 acres
Year Built
2001

Investment Overview

Marcus & Millichap is pleased to present Jackson Plaza located at 939-959 West Jackson Street in Morton, Illinois. Morton is located in central Illinois in close proximity to Bloomington/Normal, Peoria, and Springfield. Morton is a growing community with a continued projected household and population increase over the next five years. Average household income is above the national average with a 13.5 percent increase expected in the next five years. In addition, the current unemployment rate in Morton is hovering above two percent, well below the national average.

Jackson Plaza is adjacent to Kroger/CVS and has national tenants such as Verizon, Pizza Hut, and H & R Block. The site is very conveniently located at the full interchange of Interstate 74 and Morton Avenue, a major thoroughfare in the community. The property is being offered as a value-add opportunity for an opportunistic investor. Leasing up the remaining space will significantly increase the return a new investor would be getting.

Morton's economy has been shaped by its proximity to both east/west and north/south interstates (Interstates 74, 474, 155 and 55), central location between Chicago, St. Louis, and Indianapolis, the presence of Caterpillar's logistics center, proximity to Caterpillar's corporate headquarters in Peoria, and the surrounding fertile farmland. Morton is a net-importer of the workforce due to the high concentration of major employers and has an unemployment rate of 2.61 percent, which is below the state rate of 4.2 percent. Major industry clusters include advanced manufacturing and logistics/distribution. Other major employers in the area include Libby's Pumpkin cannery and Morton buildings.

Investment Highlights

  • Pizza Hut | Corporate Guarantee
  • H & R Block | Corporate Guarantee
  • Verizon Operator has 10 Stores in the Area
  • Value With Lease Up of Vacant Spaces
  • Visability From Interstate 74 | Signage Income Potential
  • Excellent Demographics to Spur Retail Tenant Growth

Exclusively Listed By

Financing By

Shopping Community

Jackson Plaza

Listing Price: $1,600,000

Cap Rate
6.24%
Gross SF
20,200
Rentable SF
20,200
Price/Gross SF
$79.21
Lot Size
2.30 acres
Year Built
2001

Investment Highlights

  • Pizza Hut | Corporate Guarantee
  • H & R Block | Corporate Guarantee
  • Verizon Operator has 10 Stores in the Area
  • Value With Lease Up of Vacant Spaces
  • Visability From Interstate 74 | Signage Income Potential
  • Excellent Demographics to Spur Retail Tenant Growth

Investment Overview

Marcus & Millichap is pleased to present Jackson Plaza located at 939-959 West Jackson Street in Morton, Illinois. Morton is located in central Illinois in close proximity to Bloomington/Normal, Peoria, and Springfield. Morton is a growing community with a continued projected household and population increase over the next five years. Average household income is above the national average with a 13.5 percent increase expected in the next five years. In addition, the current unemployment rate in Morton is hovering above two percent, well below the national average.

Jackson Plaza is adjacent to Kroger/CVS and has national tenants such as Verizon, Pizza Hut, and H & R Block. The site is very conveniently located at the full interchange of Interstate 74 and Morton Avenue, a major thoroughfare in the community. The property is being offered as a value-add opportunity for an opportunistic investor. Leasing up the remaining space will significantly increase the return a new investor would be getting.

Morton's economy has been shaped by its proximity to both east/west and north/south interstates (Interstates 74, 474, 155 and 55), central location between Chicago, St. Louis, and Indianapolis, the presence of Caterpillar's logistics center, proximity to Caterpillar's corporate headquarters in Peoria, and the surrounding fertile farmland. Morton is a net-importer of the workforce due to the high concentration of major employers and has an unemployment rate of 2.61 percent, which is below the state rate of 4.2 percent. Major industry clusters include advanced manufacturing and logistics/distribution. Other major employers in the area include Libby's Pumpkin cannery and Morton buildings.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower