Service-Tenant Shopping
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1501-1575 S Lake St, Mundelein, IL 60060
Shopping center with net-lease arrangements and service-oriented national tenants.
Property Size89,357 SF
Price / SF$167.58
Days on Market503
Property Features for 1501-1575 S Lake St
General Information
Standard status
Active
Size
89,357 SF
Property subtype
RETAIL
Listing Agency:
Greenstone Partners - Corporate
(312) 702-0146
Listed By:
Brewster Hague · License #475165689
(312) 614-1498
Source:
Moodyscre
Added: May 30, 2025
Changed: Oct 7
Last Checked: Oct 12 at 8:17PM
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 Greenstone Partners - Corporate
Investment Insights
Based on property information with market context.
This shopping center contains 89,357 square feet and is associated with net-lease arrangements and service-oriented national tenants. Tenant names, suite details, and individual lease terms are not provided.
The property is located on S Lake St in Mundelein, Illinois, within Lake County. Its retail-center format and existing tenant profile provide the primary property characteristics identified for the offering.
The property is located on S Lake St in Mundelein, Illinois, within Lake County. Its retail-center format and existing tenant profile provide the primary property characteristics identified for the offering.
Key Highlights
- 89,357‑square‑foot shopping center
- Net‑lease arrangements
- Service‑oriented national tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$913,854
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,277,080
$18.3M
Cap Rate 7%
$13,055,057
$13.1M
Cap Rate 9%
$10,153,933
$10.2M
Market Conditions
NOI Build-Up for 89,357 SF
Gross rent
$1.34M $15.00/SF
− Vacancy
−$34.8K −$0.39/SF
EGI
$1.31M $14.61/SF
− OpEx
−$391.7K −$4.38/SF
NOI
$913.9K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,277,080
Cap Rate 7%
$13,055,057
Cap Rate 9%
$10,153,933
Alternative Uses
Best Use
Retail
$13.06M
$11.42M – $15.23M
NOI $913,854 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$30.85M
$26.99M – $35.99M
NOI $2,159,563 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
101k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 45%
Hotels & Casinos 6%
Culver's
Dining
18,329 visits/mo
0.4 miles
BP
Shops & Services
16,976 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
11,334 visits/mo
0.4 miles
Speedway
Shops & Services
10,418 visits/mo
0.2 miles
Shell
Shops & Services
10,387 visits/mo
0.5 miles
Demographics for 60060, IL
37,599
Population
13,827
Households
2.7
Avg Household Size
40
Median Age
43%
College-Educated
90%
High-School Grad
23.2 sq mi
ZIP Area
1,621
Density / Sq Mi
$110,463
Median Household Income
$52,550
Median Earnings
$1,552
Median Rent
$299,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center with net-lease arrangements and service-oriented national tenants.
Where is this shopping center located?
The property is located at 1501-1575 S Lake St Mundelein, IL.
What is the asking price?
The asking price for this property is $14,974,000.
What are key features of this property?
This property features: 89,357‑square‑foot shopping center; Net‑lease arrangements; Service‑oriented national tenants
