Shopping Center with Mixed-Use
For Sale
Contact for pricing
Pending
1941 Cherry Ln, Northbrook, IL 60062
Downtown Northbrook property supports continued retail occupancy, re-leasing, or residential mixed-use redevelopment.
Property SizeContact for details
Days on Market144
Property Features for 1941 Cherry Ln
General Information
Standard status
Pending
Property subtype
Retail
Listing Agency:
CBRE - Oak Brook
Listed By:
Michael Wilson · License #475.210619
Source:
Crexi
Added: Apr 13
Changed: Sep 2
Last Checked: Sep 2 at 4:05PM
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 CBRE - Oak Brook
Investment Insights
Based on property information with market context.
Northbrook Meadows is a 60+ year-old shopping center with 89,925 SF of existing building area on a 6.94-acre site. The property is located in downtown Northbrook, IL, and its current configuration can be remodeled and re-leased. Existing occupancy is structured around minimal-rent tenants, with all but one of the longer-term leases replaced by month-to-month arrangements or leases containing termination options.
Ownership has also pursued a No Further Remediation letter from the State related to former dry cleaner and fuel oil contamination on the site. The letter was pending and expected in Q1-2025. The documented planning alternatives include continued retail use with longer-term tenants, complete redevelopment into a residential mixed-use project, or a combination of those approaches.
Ownership has also pursued a No Further Remediation letter from the State related to former dry cleaner and fuel oil contamination on the site. The letter was pending and expected in Q1-2025. The documented planning alternatives include continued retail use with longer-term tenants, complete redevelopment into a residential mixed-use project, or a combination of those approaches.
Key Highlights
- 89,925 SF of existing building area on a 6.94‑acre site
- Shopping center located in downtown Northbrook, IL
- 60+ year‑old existing retail center
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60062, IL
42,751
Population
17,892
Households
2.4
Avg Household Size
48
Median Age
71%
College-Educated
96%
High-School Grad
18.9 sq mi
ZIP Area
2,262
Density / Sq Mi
$142,759
Median Household Income
$77,188
Median Earnings
$1,921
Median Rent
$625,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Meadow Shopping Plaza Shopping Center — Cherry Ln, Northbrook, IL 60062
Frequently Asked Questions
What type of property is this?
Shopping center - Downtown Northbrook property supports continued retail occupancy, re-leasing, or residential mixed-use redevelopment.
Where is this shopping center located?
The property is located at 1941 Cherry Ln Northbrook, IL.
What are key features of this property?
This property features: 89,925 SF of existing building area on a 6.94‑acre site; Shopping center located in downtown Northbrook, IL; 60+ year‑old existing retail center
