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Listed by Craig Wolfof Strauss Realty Ltd
$ 3,799,000
Est. payment | /mo
20,400 SqFt
$ 3,799,000
Est. payment | /mo
20,400 SqFt
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 20,400 sqft
Price per Sqft $186
MLS Listing ID 12399258
Year Built 1978
Annual Tax Amount $139,390
Tax Year 2023
Lot Dimensions 501X442X330X183
Property Sub-Type Retail/Stores
Property Description
POPLAR COMMONS SHOPPING CENTER: 20,438 SF multi-tenant retail center on 2.7 acres with 11 units and 111 parking spaces. Anchored by 7-Eleven and State Farm, with a strong mix of daily-needs tenants including a laundromat. Currently there are two vacancies totaling 3,090 SF (one under LOI). Offered at a 7.86% Cap Rate with stable in-place income and lease-up potential. Proforma 2026 Cap Rate 8.50%. Recent capital improvements include full parking lot restoration, new rooftop HVAC (2023, 5-year warranty), and upgraded property-wide lighting. The property benefits from it's proximity to I-90 Barrington Rd interchange in the high-demand Golden Corridor. Located across the street from a large townhome subdivision and surrounded by multiple hotels, residential complexes, national retailers, and major employers. The zoning is B-2. Hoffman Estates features strong demographics with 50,000+ residents and avg. household income near $95K.
Location
State IL
County Cook
Zoning RTAIL
Interior
Cooling Central Individual
Fireplace N
Exterior
View Y/N true
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2600 S. Michigan Ave., STE 102, Chicago, IL, 60616, United States