245 W 162nd St South Holland, IL
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Single tenant auto center for sale in South Holland, IL.
Type:RETAIL
Property size:
6,500 SFLot size:
0.48 AcresPrice / SF:
$92/SF- Added:
- Nov 15, 2024
- Days on Market:
- 532
- Last Refresh:
- Apr 5 at 11:08 pm
Property Features for 245 W 162nd St
General Information
- Standard status
- Active
- Size
- 6,500 SF
- Lot size
- 0.48 Acres
- Property subtype
- RETAIL
Listing agent Martha Winter License #471002749 (224) 523-9174
Listing office Lagestee-Mulder (LM) (224) 523-9174
Listing date Nov 15, 2024
Source Moodyscre
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 Lagestee-Mulder (LM)
Overview
South Holland Auto Center Investment
This single-tenant auto center is available for acquisition, situated at 239 W 162nd Street in South Holland, IL. The property is located on the south side of 162nd Street, also known as Route 6, and is approximately 10 minutes from both Interstate 94 to the east and Interstate 294 to the west. The location benefits from high daily traffic counts on 162nd Street, ranging from 23,000 to 31,000 vehicles per day. The building has approximately 6,500 square feet of leasable area and is situated on a 0.46-acre lot. The facility includes 8 operational car bays, a dedicated office, and a waiting area. Recent improvements include a new 60-mil TPO roof installed in 2024 with a 20-year warranty, and a new furnace with a 10-year warranty. The property is currently 100% occupied by a long-tenured tenant who recently signed a new triple net lease for a primary term of 7 years, with two 5-year option periods. The rental rate includes a 6.6% increase in the fourth lease year and a 3.7% increase in the sixth lease year. During the option periods, rents increase 2% annually. Nearby retailers include Dunkin Donuts, Wendy’s, Browns Chicken, and Pizza Hut, as well as Advocate Health Care and UChicago Medicine. This property offers a long-term, absolute net leased auto center investment opportunity in the Chicago MSA.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Auto shops
Similar Places Nearby
- T18 Plus LLC — 16647 Vincennes Ave, South Holland, IL 60473
- TMI Towing - Cash For Junk Cars — 16325 S Halsted St, Harvey, IL 60426
- Larry's Automotive School of Technology Repair Shop — 16360A Halsted St, Harvey, IL 60426
- Vargas Mufflers Brakes — 16324 Halsted St, Harvey, IL 60426
- K S TRUCK REPAIR — 16650 Vincennes Ave, South Holland, IL 60473
Location Insight
- Map
- Local Demand
- City
- South Holland
- County
- Cook
- State
- Illinois
- Longitude
- -87.6239
- Latitude
- 41.6006
Nearby Similar for Sale
FAQs
What type of property is this?
Auto shop - Single tenant auto center for sale in South Holland, IL.
Where is this auto shop located?
The property is located at 245 W 162nd St South Holland, IL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Single‑tenant, net‑leased auto center providing passive income.; New 7‑year triple net lease with a long‑tenured tenant, plus two 5‑year options.; Rental rate increases built into the lease, including 6.6% in year four and 3.7% in year six.
