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Shopping Neighborhood

Grocery Anchored Retail Center | Hanover Square

6606 Barrington Rd, Hanover Park, IL 60133

Listing Price: $7,705,000

Cap Rate
8.11%
Gross SF
111,828
Rentable SF
111,828
Price/Gross SF
$68.90
Lot Size
9.08 acres
Year Built
1965

Investment Overview

Marcus & Millichap is pleased to present Hanover Square Grocery Anchored Center located in Hanover Park, Illinois. This shopping center consists of two outlots anchored by a full-service grocer and a well-known gymnastics training center. A diverse mix of national, regional, and local tenants. Many tenants with long operating history. Ten tenants have operated at this location for at least 10 years, five tenants with at least 34 years of operating history. This is a value-add opportunity to add cap rate growth through leasing the remaining 21,509 square feet of vacant space. Excellent real estate fundamentals with an outlot on the northeast corner and 472-surface spaces. The majority of the roof has been replaced between 2013-2017. Located within the Chicago Metropolitan Statistical Area. Situated on a signalized, hard-corner intersection with over 25,400 total vehicles passing per day. Less than .25 miles to the heavily traveled Lake Street/Barrington Road intersection with 64,050 total vehicles passing per day. Easily accessible with less than a mile from the Elgin-O’hare Tollway/Illinois Route 390 interchange. Illinois Route 390 is a tollway connecting Interstate 290 which also connects to Interstate 355 and 90 within five miles. Ideally positioned between Two Metra Rail Milwaukee-District West stations (5,904,808 annual ridership). 900 feet to the Hanover Park Park District Community Center and Park. Hanover Park Park District is currently surveying the community for input on what amenities to implement at the community park with renovations to be completed in 2021. Attractive demographics in this densely populated area with 272,199 people living within five miles with an average household income of $114,800.

Investment Highlights

  • Shopping Center Consisting of Two Outlots Anchored by Full-Service Grocer and Well-Known Gymnastics Training Center
  • Five Tenants with Over 34 Years of Operating History at this Location | 10 Tenants for at Least 10 Years
  • Value-Add Opportunity
  • Situated on a Signalized, Hard-Corner Intersection | Nearly 28,00 Total Vehicles Passing per Day
  • Easily Accessible | Less Than a Mile from the Elgin-O'Hare Tollway/Illinois Route 390 Interchange
  • 900 Feet to the Hanover Park Park District Community Center and Park
  • 272,199 People Live Within Five Miles with an Average Household Income of $114,800

Exclusively Listed By

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

Financing By

Shopping Neighborhood

Grocery Anchored Retail Center | Hanover Square

Listing Price: $7,705,000

Cap Rate
8.11%
Gross SF
111,828
Rentable SF
111,828
Price/Gross SF
$68.90
Lot Size
9.08 acres
Year Built
1965

Investment Highlights

  • Shopping Center Consisting of Two Outlots Anchored by Full-Service Grocer and Well-Known Gymnastics Training Center
  • Five Tenants with Over 34 Years of Operating History at this Location | 10 Tenants for at Least 10 Years
  • Value-Add Opportunity
  • Situated on a Signalized, Hard-Corner Intersection | Nearly 28,00 Total Vehicles Passing per Day
  • Easily Accessible | Less Than a Mile from the Elgin-O'Hare Tollway/Illinois Route 390 Interchange
  • 900 Feet to the Hanover Park Park District Community Center and Park
  • 272,199 People Live Within Five Miles with an Average Household Income of $114,800

Investment Overview

Marcus & Millichap is pleased to present Hanover Square Grocery Anchored Center located in Hanover Park, Illinois. This shopping center consists of two outlots anchored by a full-service grocer and a well-known gymnastics training center. A diverse mix of national, regional, and local tenants. Many tenants with long operating history. Ten tenants have operated at this location for at least 10 years, five tenants with at least 34 years of operating history. This is a value-add opportunity to add cap rate growth through leasing the remaining 21,509 square feet of vacant space. Excellent real estate fundamentals with an outlot on the northeast corner and 472-surface spaces. The majority of the roof has been replaced between 2013-2017. Located within the Chicago Metropolitan Statistical Area. Situated on a signalized, hard-corner intersection with over 25,400 total vehicles passing per day. Less than .25 miles to the heavily traveled Lake Street/Barrington Road intersection with 64,050 total vehicles passing per day. Easily accessible with less than a mile from the Elgin-O’hare Tollway/Illinois Route 390 interchange. Illinois Route 390 is a tollway connecting Interstate 290 which also connects to Interstate 355 and 90 within five miles. Ideally positioned between Two Metra Rail Milwaukee-District West stations (5,904,808 annual ridership). 900 feet to the Hanover Park Park District Community Center and Park. Hanover Park Park District is currently surveying the community for input on what amenities to implement at the community park with renovations to be completed in 2021. Attractive demographics in this densely populated area with 272,199 people living within five miles with an average household income of $114,800.

Exclusively Listed By

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

Financing By

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