1909-2137 S. Main Street, Morton, IL
Shopping Center for Sale - $2,750,000 - 136,841 Sq. Ft. on 11 acres
Property Info
| CIMLS# | 973812 |
| Location 1909-2137 S. Main Street Morton IL 61550 | |
| Updated | February 12th, 2018 |
| Type | Shopping Center |
| Price | $2,750,000 |
| Building | 136,841 Sq. Ft. |
| Land | 11 acres |
Property Description
Mike Richwine is Receiver for Morton Fields Shopping Center. The property is managed, leased, and listed thru Maloof Commercial in Peoria.
Field Shopping center is 53% leased by 21 tenants who all have been their for a long time. The property is priced on Stabalized income which has had $235,000 net income. The remaining 19 spaces represent significant upside. Several outlots can be added and/or redeveloped.
Location Description:
Frontage is onI55 and Main Street in Morton, Il - a close in suburb of Peoria. 1.5 miles south of I-74 and I - 55
Highlights:
>> Asking price of $2,750,000 represents a 8.5% cap rate on stabalized income
>> Upside thru leasing or development and sale of outlots.
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