Overview
Skokie Retail Investment Opportunity
This multi-tenant retail investment opportunity is located at the stoplight intersection of Dempster and Gross Point Road in Skokie, IL, benefiting from high traffic of over 40,000 vehicles per day. The property is a retail center comprising approximately 18,744 square feet, situated on 1.2 acres of land. Currently, the property is 68% leased to a mix of local and regional tenants operating under net lease structures. Matari Coffee Co. recently opened its 6th location at the property and has plans for 15 additional locations nationwide. Taboun Grill has been a tenant at this location for nearly 20 years. There is an opportunity to add value through the lease-up of the remaining 6,062 square feet of space. The property is surrounded by national and regional retailers, including Target, Binny’s, FedEx, Starbucks, Dunkin’, Panda Express, McDonald’s, Oberweis, and Pita Inn. Westfield Old Orchard, a premier suburban mall, is located one mile north, drawing over 12 million annual visitors and featuring anchors such as Nordstrom, Apple, Louis Vuitton, Tiffany & Co., lululemon, Alo, and Anthropologie, along with upscale restaurants like The Hampton Social, Bar Siena, Maggiano’s, Shake Shack, and The Capital Grille. The surrounding area has strong demographics, with a 3-mile radius encompassing a population of 151,553, an average household income of $125,384, and a median home value of $384,000. The property also benefits from immediate access to Interstate 94, which sees 126,500 vehicles per day.
