Retail Investment Opportunity in Hanover
For Sale
$3,481,000
1557-1559 Irving Park Rd Hanover, Hanover Park, IL 60133
Corporate-backed, two-tenant retail property with upside potential.
Property SizeContact for details
Days on Market153
Property Features for 1557-1559 Irving Park Rd Hanover
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
Faris Lee Investments
(949) 887-4285
Listed By:
Christopher DePierro · License #CalDRE #01158321
(949) 887-4285
Source:
Farislee
Added: Mar 6
Changed: Jul 10
Last Checked: Aug 5 at 5:16AM
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 Faris Lee Investments
Investment Insights
Based on property information with market context.
This commercial property features two tenants: Harbor Freight and Dollar Tree. Harbor Freight has approximately 6 years of primary term remaining on their lease and pays a below-market rent of $9.17 per square foot. Dollar Tree signed a new 10-year lease at this location. The property is priced at $141 per square foot, which is below replacement costs for the building. Significant renovations were completed in 2014 and 2023, including a new façade, roof, parking lot, landscaping, lighting, and signage. Dollar Tree added new HVAC and upgraded the interior improvements. The property is located at the signalized intersection of Irving Park Road and Barrington Road, with a combined traffic count of approximately 58,288 cars per day. The surrounding area includes national retailers such as Wal-Mart, Menards, Walgreens, Target, Home Depot, and Jewel-Osco. The area has strong demographics, with approximately 130,000 residents within 3 miles and an average household income of $102,000 within a 5-mile radius.
Key Highlights
- Below replacement cost purchase price of $141 per square foot.
- New 10‑year lease with Dollar Tree**, complementing their existing top‑performing store (top 2 Percentile nationwide).
- Strategic location at a signalized intersection with high traffic counts** (58,288 cars per day) in a strong retail hub.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
156k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 48%
Dining 26%
Shops & Services 26%
Menards
Home Improvements & Furnishings
58,598 visits/mo
0.5 miles
Harbor Freight Tools
Home Improvements & Furnishings
15,427 visits/mo
0.5 miles
Popeyes Louisiana Kitchen
Dining
14,838 visits/mo
0.3 miles
Culver's
Dining
14,827 visits/mo
0.5 miles
Dollar General
Shops & Services
10,734 visits/mo
0.4 miles
Demographics for 60133, IL
37,494
Population
11,573
Households
3.2
Avg Household Size
35
Median Age
29%
College-Educated
84%
High-School Grad
8.4 sq mi
ZIP Area
4,464
Density / Sq Mi
$92,263
Median Household Income
$40,743
Median Earnings
$1,478
Median Rent
$260,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Orchard Lane Center — 7211 Orchard Ln, Hanover Park, IL 60133
- 2000-2005 Irving Park Rd — 2000 irving park rd, hanover park, il 60133
- Georgetown Square — 1837 W Irving Park Rd, Hanover Park, IL 60133
- Golf Plaza Mall — 6894 edgebrook ln, hanover park, il 60133
- BeautyStudio 7 Salon — 1300 IL-19, Streamwood, IL 60107
Frequently Asked Questions
What type of property is this?
Shopping center - Corporate-backed, two-tenant retail property with upside potential.
Where is this shopping center located?
The property is located at 1557-1559 Irving Park Rd Hanover Hanover Park, IL.
What is the asking price?
The asking price for this property is $3,481,000.
What are key features of this property?
This property features: Below replacement cost purchase price of $141 per square foot.; New 10‑year lease with Dollar Tree**, complementing their existing top‑performing store (top 2 Percentile nationwide).; Strategic location at a signalized intersection with high traffic counts** (58,288 cars per day) in a strong retail hub.
