Two-Tenant Med-Tail
16641 S Halsted St Harvey, IL 60426
16641 S Halsted St, Harvey, IL, 60426
$2,100,000
For Sale
$2,100,000
Two-tenant med-tail center anchored by DaVita Dialysis with long-term lease options and scheduled rent increases.
Property Size8,864 SF
Price / SF$236.91
Days on Market36
Property Features for 16641 S Halsted St
General Information
- Standard status
- Active
- Size
- 8,864 SF
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 2006
Listing agency
Chicago Oak Brook Office
(630) 570-2163
Listed by
Adrian Mendoza · License #License(s): IL: 475.147980
(630) 570-2163
Source
Marcusmillichap
Added: Jun 17 Updated: Jul 21 at 3:23AM Checked: Jul 22 at 2:12AM
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 Chicago Oak Brook Office
Investment Insights
Based on property information with market context.
This two-tenant med-tail center is designed to support medical and retail uses, anchored by DaVita Dialysis. The DaVita lease accounts for over 77 percent of base rent and has been in place at the location for 20 years, with a recently exercised five-year option.
A second tenant, Happy Daze, operates as a smoke and vape shop and has operated at the site for eight years, with one 10-year option remaining. Each lease includes scheduled rental increases.
The property offers prominent roadside visibility with frontage along S. Halsted Street exceeding 200 feet and is located about 0.5 miles from I-294. The ownership summary also notes a location within a dense three-mile trade area, including more than 74,000 residents and nearly 80,000 employees.
A second tenant, Happy Daze, operates as a smoke and vape shop and has operated at the site for eight years, with one 10-year option remaining. Each lease includes scheduled rental increases.
The property offers prominent roadside visibility with frontage along S. Halsted Street exceeding 200 feet and is located about 0.5 miles from I-294. The ownership summary also notes a location within a dense three-mile trade area, including more than 74,000 residents and nearly 80,000 employees.
Key Highlights
- Two‑tenant med‑tail center built in 2006, anchored by DaVita Dialysis.
- DaVita accounts for over 77% of base rent; operating at the location for 20 years and recently exercised a five‑year option.
- Happy Daze smoke and vape shop has operated at the site for eight years with one 10‑year option remaining.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $191.5k | $21.60 |
| − Vacancy | −$15.7k | −$1.77 |
| EGI | $175.8k | $19.83 |
| − OpEx | −$52.7k | −$5.95 |
| NOI | $123.0k | $13.88 |
8,864 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.76M
$1.54M – $2.05M
NOI $123,034 @ 7.0% cap · market cap 5.86%
Second Best
Healthcare Medical
$1.68M
$1.47M – $1.96M
NOI $117,430 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,223 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Two-tenant med-tail center anchored by DaVita Dialysis with long-term lease options and scheduled rent increases.
Where is this strip mall located?
The property is located at 16641 S Halsted St Harvey, IL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Two‑tenant med‑tail center built in 2006, anchored by DaVita Dialysis.; DaVita accounts for over 77% of base rent; operating at the location for 20 years and recently exercised a five‑year option.; Happy Daze smoke and vape shop has operated at the site for eight years with one 10‑year option remaining.
