We are proud to present the opportunity to acquire a value-add investment property including a 40,850 square foot multi-tenant retail center and three undeveloped outlots positioned in a strong, transit-oriented location in the Chicago suburb of Hickory Hills. This property offers tremendous upside and future NOI growth through the potential for development of the outlots. Furthermore, new ownership can add value by repositioning the below-market gross leases into NNN market rents. 87th Plaza contains 40,850 square feet and is situated on approximately 6.26 acres. At the southwest corner of 87th Street and 88th Avenue just south of I-294, the center benefits greatly from its position next to CVS and Shell Gas Station across from Hickory Hills Police Department. Anchored by recently-renewed variety store chain, Dollar General, the center is fully occupied by many internet-resistant tenants on long-term leases. Differentiated businesses and contrasting rush hours allow for an ideal synergy and mutual benefit across the property. The brick construction building has been beautifully maintained and offers its visitors 242 parking spots in a landscaped and well-kept lot. Three entrances on two separate roads aid traffic flow and allow tenants to operate smoothly. Cross access with CVS and Shell allows for entry for those customers as well. This asset has tremendous upside potential through future development and repositioning of the property.
Lot & Building Features
CoolingCentral Individual
Tax Year2021
Lot Dimensions0X0 ft
Price History of 8821 87th, Hickory Hills, IL
Date
Name
Price
Difference
01/19/2024
Price Adjustment
$3,800,000
17.39%
12/31/1969
Listing Price
$4,600,000
N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
8821 87th (MLS #11659191) is a commercial listing located in Hickory Hills, IL.
This property was listed on 10/24/2022 and has been priced for sale at $3,800,000.
Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.
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Listing information courtesy of: Brookline Real Estate LLC