Community Retail Center with 10
For Sale
$1,411,576
1814 Adlai Stevenson Dr, Springfield, IL 62703
Fully occupied multi-tenant community retail center built in 1956 with 10 tenants and long-term anchors.
Property Size32,080 SF
Lot Size2.35 Acres
Price / SF$44
Days on Market18
Property Features for 1814 Adlai Stevenson Dr
General Information
Standard status
Active
Size
32,080 SF
Lot size
2.35 Acres
Property subtype
Shopping Strip
Occupancy
100%
Additional Details
Cap Rate
10%
Amenities
High Yield Neighborhood Retail Center
100 Percent Occupied
Service Based Retail
Building Details
Building Size
32,080 SF
Year Built
1956
Tenancy
Multi
Listing Agency:
Marcus & Millichap
(314) 889-2552
Listed By:
Chris Garavaglia · License #License(s): MO: 2015042068, NE: 20240127
(314) 889-2552
Source:
Marcusmillichap
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 8 at 2:36AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Laketown Shopping Center is a fully occupied, multi-tenant community retail center built in 1956 on a 2.35-acre site. The property totals 32,080 square feet and is home to 10 tenants across fitness, food and beverage, personal services, office, and entertainment uses.
BLH Computers has anchored the center for over 16 years, occupying 12,080 square feet (nearly 38% of the total GLA). Progressive has held its 4,800-square-foot space for over 24 years. Other long-tenured occupants include Tracey & Heather Dance Synergy (4,500 SF) and Eric Anderson-Games (4,600 SF), with these four tenants collectively representing over 81% of the GLA.
In-place rents average $6.79 per square foot across the center. Lucy’s Place (Suite 6) is currently paying $20.87 per square foot under a long-term lease with annual 2% escalations, illustrating a meaningful rent spread within the property’s current tenant roster.
BLH Computers has anchored the center for over 16 years, occupying 12,080 square feet (nearly 38% of the total GLA). Progressive has held its 4,800-square-foot space for over 24 years. Other long-tenured occupants include Tracey & Heather Dance Synergy (4,500 SF) and Eric Anderson-Games (4,600 SF), with these four tenants collectively representing over 81% of the GLA.
In-place rents average $6.79 per square foot across the center. Lucy’s Place (Suite 6) is currently paying $20.87 per square foot under a long-term lease with annual 2% escalations, illustrating a meaningful rent spread within the property’s current tenant roster.
Key Highlights
- 32,080 SF community retail center at 1800 Stevenson Drive in Springfield, IL
- Built in 1956 on a 2.35‑acre site and fully occupied with 10 tenants
- 10 tenants include fitness, food & beverage, personal services, office, and entertainment uses
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 62703, IL
28,344
Population
14,320
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
85%
High-School Grad
14.9 sq mi
ZIP Area
1,902
Density / Sq Mi
$44,580
Median Household Income
$36,345
Median Earnings
$971
Median Rent
$93,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied multi-tenant community retail center built in 1956 with 10 tenants and long-term anchors.
Where is this strip mall located?
The property is located at 1814 Adlai Stevenson Dr Springfield, IL.
What is the asking price?
The asking price for this property is $1,411,576.
What are key features of this property?
This property features: 32,080 SF community retail center at 1800 Stevenson Drive in Springfield, IL; Built in 1956 on a 2.35‑acre site and fully occupied with 10 tenants; 10 tenants include fitness, food & beverage, personal services, office, and entertainment uses
