Bank-Anchored Mixed-Use
For Sale
$3,000,000
1 E Merchants Dr, Oswego, IL 60543
Three-story, fee-simple mixed-use property is anchored by Fifth Third Bank and LifeStance Health on a signalized corner lot.
Property Size13,335 SF
Lot Size1.14 Acres
Price / SF$224.97
Days on Market192
Property Features for 1 E Merchants Dr
General Information
Standard status
Active
Size
13,335 SF
Lot size
1.14 Acres
Property subtype
Office
Site & Location
Traffic Count
22,346 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
Over $100 Million in Bank Deposits
58 Percent Credit Tenants
$130,000 in Capital Improvements Since 2024
Brand New HVAC Units
Over $100,000 Lifestance Buildout
Building Details
Building Size
13,335 SF
Year Built
1992
Stories
3
Tenancy
Multi
Listed By:
Kellan Gilmartin · License #License(s): IL: 475.208202
(630) 570-2242
Source:
Marcusmillichap
Added: Apr 13
Changed: Oct 2
Last Checked: Oct 20 at 5:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kellan Gilmartin
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Investment Insights
Based on property information with market context.
Exclusively offered fee simple mixed-use property anchored by Fifth Third Bank and LifeStance Health. The 3-story building totals 11,348 rentable square feet, with an additional 2,200 SF of leaseable space in the lower level, all situated on a 1.14 AC lot. The property is over 99% leased to a mix of medical and professional tenants.
Fifth Third occupies the ground floor and is fully built out with four drive-through lanes and one ATM drive-lane. LifeStance Health is located on the third floor. The ground-floor lease includes 7+ years remaining with rental escalations of 10% every 5 years of the primary term and each of the five 5-year options. LifeStance Health signed an early 5-year extension with 2% annual rental increases.
The property is positioned on a signalized hard-corner intersection with access off E Merchants Dr, located right off U.S. Hwy 30 within a plaza that also includes 7-Eleven, Splash Car Wash, and Fox Valley Credit Union. The surrounding retail corridor features several national tenants, with the asset itself directly benefiting from the established mixed retail and banking environment.
Fifth Third occupies the ground floor and is fully built out with four drive-through lanes and one ATM drive-lane. LifeStance Health is located on the third floor. The ground-floor lease includes 7+ years remaining with rental escalations of 10% every 5 years of the primary term and each of the five 5-year options. LifeStance Health signed an early 5-year extension with 2% annual rental increases.
The property is positioned on a signalized hard-corner intersection with access off E Merchants Dr, located right off U.S. Hwy 30 within a plaza that also includes 7-Eleven, Splash Car Wash, and Fox Valley Credit Union. The surrounding retail corridor features several national tenants, with the asset itself directly benefiting from the established mixed retail and banking environment.
Key Highlights
- Fee‑simple, 3‑story mixed‑use property at 1 E Merchants Dr, Oswego, IL, with 11,348 RSF plus 2,200 SF of lower‑level leaseable space.
- Over 99% leased with a medical/professional tenant mix anchored by Fifth Third Bank and LifeStance Health.
- Fifth Third Bank lease: ground‑floor space fully built out with four drive‑through lanes and one ATM drive‑lane; 7+ years remaining with 10% rent escalations every 5 years plus five 5‑year options.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,028
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,500,560
$4.5M
Cap Rate 7%
$3,214,686
$3.2M
Cap Rate 9%
$2,500,311
$2.5M
Market Conditions
NOI Build-Up for 13,335 SF
Gross rent
$400.1K $30.00/SF
− Vacancy
−$40.0K −$3.00/SF
EGI
$360.0K $27.00/SF
− OpEx
−$135.0K −$10.13/SF
NOI
$225.0K $16.88/SF
Area
Kendall County, IL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,500,560
Cap Rate 7%
$3,214,686
Cap Rate 9%
$2,500,311
Alternative Uses
Best Use
Mixed Use
$3.21M
$2.81M – $3.75M
NOI $225,028 @ 7.0% cap · market cap 7.50%
Second Best
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $223,228 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$4.60M
$4.03M – $5.37M
NOI $322,278 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
22,346 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
53k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 77%
Dining 23%
Blain's Farm & Fleet
Apparel
40,421 visits/mo
0.3 miles
Dunkin' Donuts
Dining
12,158 visits/mo
0.4 miles
Demographics for 60543, IL
40,299
Population
14,327
Households
2.8
Avg Household Size
37
Median Age
42%
College-Educated
94%
High-School Grad
41.9 sq mi
ZIP Area
962
Density / Sq Mi
$116,507
Median Household Income
$54,783
Median Earnings
$1,558
Median Rent
$319,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story, fee-simple mixed-use property is anchored by Fifth Third Bank and LifeStance Health on a signalized corner lot.
Where is this mixed-use property located?
The property is located at 1 E Merchants Dr Oswego, IL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Fee‑simple, 3‑story mixed‑use property at 1 E Merchants Dr, Oswego, IL, with 11,348 RSF plus 2,200 SF of lower‑level leaseable space.; Over 99% leased with a medical/professional tenant mix anchored by Fifth Third Bank and LifeStance Health.; Fifth Third Bank lease: ground‑floor space fully built out with four drive‑through lanes and one ATM drive‑lane; 7+ years remaining with 10% rent escalations every 5 years plus five 5‑year options.
