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Urban-High Street

Trophy Saint Charles High Street Retail

117 W Main St, St. Charles, IL 60174

Listing Price: $2,098,000

Cap Rate
8.00%
Gross SF
8,067
Rentable SF
8,067
Price/Gross SF
$260.07
Lot Size
0.12 acres
Year Built
1900

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in 117 West Main Street, an 8,280-square foot high street retail building located in historic downtown St. Charles, Illinois. The building is fully occupied with a stabilized rent roll. All tenants operate on NNN leases and reimburse for their share of taxes, CAM, insurance and management fees. Located at the most prominent signalized intersection in downtown Saint Charles, the property is adjacent to a surface parking lot that is maintained by the city of Saint Charles, benefiting all the tenants and their patrons with a level of convenience with which most high street retail buildings cannot compete. Additional public parking is available through a brand new 430-space parking garage located adjacent to the subject property.
The property benefits from direct exposure to 44,900 vehicles per day in addition to heavy pedestrian traffic. The Fox River is less than a tenth of a mile away, and Hotel Baker, a 52-room boutique hotel is located across the street, driving additional traffic to the location. Around the corner, the $100M First Street Redevelopment Project has just been delivered and is already stabilized with leases signed on more than 90% of the newly constructed retail space. The project spans several blocks along First Street and includes the construction of three new mixed-use buildings with residential, retail and office units, reconstruction of the street and sidewalk, a public parking deck, extensive new public spaces, and a bi-level pedestrian river-walk. All of this will benefit the tenants of 117 West Main Street by increasing density in downtown Saint Charles and by giving visitors to the historic downtown area new reasons to visit.
The tenants are all deeply committed to the location and are current on rents. Despite the adversity all retailers have endured throughout the pandemic, these tenants have demonstrated resiliency and the ability to operate even under the most challenging conditions. In September, Ownership had a vacancy become available and it was backfilled in less than 2 months. The Owner had competing offers on the vacant space and signed a new lease at a base rent $27/sf with only a minimal TI allowance necessary.
This is an opportunity to purchase a stabilized, well-located retail building in a high barrier to entry market.

Investment Highlights

  • Exceptional downtown St. Charles retail location | Located at a signalized intersecti
  • Fully occupied with high historical occupancy | All tenants operate on NNN leases and
  • Adjacent to a City of St. Charles maintained surface parking lot
  • Around the corner (>0.1 Mile) from the $100M First Street Project, bringing residenti
  • Excellent demographics | Average household incomes exceed $130,000 annually
  • Replaceable rents | Seller filled a vacant space in November with less than 2 months

Exclusively Listed By

Financing By

Urban-High Street

Trophy Saint Charles High Street Retail

Listing Price: $2,098,000

Cap Rate
8.00%
Gross SF
8,067
Rentable SF
8,067
Price/Gross SF
$260.07
Lot Size
0.12 acres
Year Built
1900

Investment Highlights

  • Exceptional downtown St. Charles retail location | Located at a signalized intersecti
  • Fully occupied with high historical occupancy | All tenants operate on NNN leases and
  • Adjacent to a City of St. Charles maintained surface parking lot
  • Around the corner (>0.1 Mile) from the $100M First Street Project, bringing residenti
  • Excellent demographics | Average household incomes exceed $130,000 annually
  • Replaceable rents | Seller filled a vacant space in November with less than 2 months

Investment Overview

Marcus & Millichap is pleased to present the fee simple interest in 117 West Main Street, an 8,280-square foot high street retail building located in historic downtown St. Charles, Illinois. The building is fully occupied with a stabilized rent roll. All tenants operate on NNN leases and reimburse for their share of taxes, CAM, insurance and management fees. Located at the most prominent signalized intersection in downtown Saint Charles, the property is adjacent to a surface parking lot that is maintained by the city of Saint Charles, benefiting all the tenants and their patrons with a level of convenience with which most high street retail buildings cannot compete. Additional public parking is available through a brand new 430-space parking garage located adjacent to the subject property.
The property benefits from direct exposure to 44,900 vehicles per day in addition to heavy pedestrian traffic. The Fox River is less than a tenth of a mile away, and Hotel Baker, a 52-room boutique hotel is located across the street, driving additional traffic to the location. Around the corner, the $100M First Street Redevelopment Project has just been delivered and is already stabilized with leases signed on more than 90% of the newly constructed retail space. The project spans several blocks along First Street and includes the construction of three new mixed-use buildings with residential, retail and office units, reconstruction of the street and sidewalk, a public parking deck, extensive new public spaces, and a bi-level pedestrian river-walk. All of this will benefit the tenants of 117 West Main Street by increasing density in downtown Saint Charles and by giving visitors to the historic downtown area new reasons to visit.
The tenants are all deeply committed to the location and are current on rents. Despite the adversity all retailers have endured throughout the pandemic, these tenants have demonstrated resiliency and the ability to operate even under the most challenging conditions. In September, Ownership had a vacancy become available and it was backfilled in less than 2 months. The Owner had competing offers on the vacant space and signed a new lease at a base rent $27/sf with only a minimal TI allowance necessary.
This is an opportunity to purchase a stabilized, well-located retail building in a high barrier to entry market.

Exclusively Listed By

Financing By

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