Property Listing No Longer Available for Sale

5200-5214 West 159th Street

Oak Forest, IL

Retail for Sale - $1,200,000 - 11,930 Sq. Ft. on 0.86 acres


Property Info

CIMLS#971797
Location
  5200-5214 West 159th Street
  Oak Forest IL 60452
UpdatedJanuary 5th, 2018
TypeRetail
Price$1,200,000
Building11,930 Sq. Ft.
Land0.86 acres

Property Description

Multi-tenant retail center at the northwest corner of 159th Street and Laramie Avenue in Oak Forest. The center is extremely well located at the signalized intersection with visibility and exposure to over 33,000 VPD. At 100% occupancy, the center nicely cash

flows. Tenants include Domino's Pizza, Metro PCS, Stop 'n' Go Food & Liquors, Rockin Horse Grill and Tacos Tortas and Burritos. Four (4) of the five (5) Tenants are on NNN leases. The plaza features two (2) pylon signs with frontage along 59th Street and a 35-car parking lot. Located in a prominent retail corridor, the plaza finds itself surrounded by national retailers including Jewel-Osco, The Home Depot, Food-4-Less, Menards, Walgreens, Aldi, Portillo's, and McDonald's, among many others.

Location Description:

The neighborhood retail center is located along the north side of 159th Street in Oak Forest, Illinois. Oak Forest is a southern suburb of Chicago and is a part of Cook County. The plaza finds itself apart of a retail corridor filled with a number of local and national retailers nearby. The center is also just east of the Tinley Park Shopping Center, which is home to national retailers such as The Home Depot, Menard's, Sam's Club, Aldi, Meijer, Bath & Body Works, The TIle Shop, Burlington Coat Factory, Lumber Liquidators and many more. Additionally, the property is two (2) miles west of Interstate-57 and two (2) blocks west of the Oak Forest Metra Station, thus providing easy accessibility.

Highlights:

>> The center produces a strong NOI at the current 100% occupancy rate

>> Well located at the corner of a signalized intersection along 159th Street, providing exposure to over 33,000 VPD

>> Four (4) of the five (5) Tenants are on NNN leases

>> Excellent investment opportunity to purchase a fully leased and strong cash flowing center along heavily trafficked 159th Street

>> Monument signage provides visibility and exposure to over 383000 VPD

>> Property contains a 35-car parking lot with a ratio of 2.93/1,000 SF

>> Conveniently located within one (1) mile of Interstate-57 (I-57) and the Oak Forest Metra Station

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Financials


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