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Shopping Strip

North Second Building

5303 N 2nd St, Loves Park, IL 61111

Listing Price: $1,741,000

Cap Rate
8.25%
Gross SF
12,674
Rentable SF
12,674
Price/Gross SF
$137.37
Lot Size
2.07 acres
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present for sale the North Second Building, in Loves Park, IL. The property is situated on a roughly a roughly 2.07 total acre parcel which features a ~12,600 SF building. The property was built in 2008 and has been well maintained by current ownership. The North Second Building is currently 86% occupied, leaving additional upside for new ownership.

The property features a variety of long-standing tenants, with Edward Jones and Anytime Fitness having been on site for 10+ years and Dottys Caf, has been on site for 8+ years. All the tenants have weathered COVID-19 without concessions and should be poised to do well for many years to come at this site.

The Rockford MSA features a population of ~350,000 people per the 2010 census. Rockfords cheap cost of living and low housing cost makes it a great place to do business outside of Chicago. The Rockford region is home to four separate tier-one Aerospace companies and is the largest center of aerospace production in Illinois and ranks #6 in the US for aerospace production.

Investment Highlights

  • Long Term Leases Provide Low Risk for New Ownership
  • Full Collections during COVID-19, Signifying Strong Tenant Mix
  • Surrounded by Many National, Regional, and Local Retailers
  • High Historical Occupancy Provides Great Stability to a New Investor
  • Beautifully Maintained Building By Current Ownership
  • 14% Vacancy Upside For New Ownership

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

Shopping Strip

North Second Building

Listing Price: $1,741,000

Cap Rate
8.25%
Gross SF
12,674
Rentable SF
12,674
Price/Gross SF
$137.37
Lot Size
2.07 acres
Year Built
2008

Investment Highlights

  • Long Term Leases Provide Low Risk for New Ownership
  • Full Collections during COVID-19, Signifying Strong Tenant Mix
  • Surrounded by Many National, Regional, and Local Retailers
  • High Historical Occupancy Provides Great Stability to a New Investor
  • Beautifully Maintained Building By Current Ownership
  • 14% Vacancy Upside For New Ownership

Investment Overview

Marcus & Millichap is pleased to present for sale the North Second Building, in Loves Park, IL. The property is situated on a roughly a roughly 2.07 total acre parcel which features a ~12,600 SF building. The property was built in 2008 and has been well maintained by current ownership. The North Second Building is currently 86% occupied, leaving additional upside for new ownership.

The property features a variety of long-standing tenants, with Edward Jones and Anytime Fitness having been on site for 10+ years and Dottys Caf, has been on site for 8+ years. All the tenants have weathered COVID-19 without concessions and should be poised to do well for many years to come at this site.

The Rockford MSA features a population of ~350,000 people per the 2010 census. Rockfords cheap cost of living and low housing cost makes it a great place to do business outside of Chicago. The Rockford region is home to four separate tier-one Aerospace companies and is the largest center of aerospace production in Illinois and ranks #6 in the US for aerospace production.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

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