1310 Shermer Rd Northbrook, IL 60062
Mixed-use property with commercial and residential components in affluent Northbrook.
Property Features for 1310 Shermer Rd
General Information
- Standard status
- Active
Source:
Cbre
Listing Agent: Dominic Soltero
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Northbrook Mixed-Use Investment Opportunity
Located at the signalized intersection of Shermer Road and Meadow Road in Northbrook, Illinois, the Village Green Shopping Center is a mixed-use commercial and residential property. The property features a mix of service-based tenants with an average tenure of more than 18 years, a multifamily component comprised of 10 luxury apartments, and a 200-stall parking lot. The asset has been under the same ownership for the last 34 years and is in excellent condition, due to proactive maintenance and capital expenditure investments. The property is the central building in downtown Northbrook on Shermer Road, directly across from Village Green Park in the heart of Northbrook's central business district. The shopping center has more than 133,000 annual visitors, and average annual incomes exceed $230,000 within a one-mile radius. The property benefits from access, as it is steps away from the Metra train station and Pace Bus Route. The property is currently 94.8% occupied and features 25 distinct commercial tenants in a variety of service-based industries, plus 10 high-end residential apartments. Lease expirations are spread out through 2033. The property offers investors the potential to generate upside with rent growth and converting Gross leases to NNN.
Location Intelligence
Current Use by Public Records
Shopping centers
Location Insight
- Map
- Local Demand
- City
- Northbrook
- County
- Adams
- State
- Illinois
- Longitude
- -87.8406
- Latitude
- 42.1255
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with commercial and residential components in affluent Northbrook.
Where is this mixed-use property located?
The property is located at 1310 Shermer Rd Northbrook, IL.
What are key features of this property?
This property features: - Located in affluent Northbrook, IL, with high average annual incomes and a strong community feel.; - Stabilized asset with diversified tenant mix and high occupancy (94.8%), providing an attractive income stream.; - Strong operating history with year-over-year gross revenue and net profit growth.
