Retail Investment Opportunity in Hanover
1557-1559 Irving Park Rd, Hanover Park, IL 60133
- Added:
- Mar 6, 2026
- Days on Market:
- 72
- Last Refresh:
- Apr 5 at 8:53 pm
Property Features for 1557-1559 Irving Park Rd
General Information
- Standard status
- Active
- Property subtype
- Retail
Listing agent Christopher DePierro License #CalDRE #01158321 (949) 221-1824
Listing office Faris Lee Investments (949) 221-1824
Listing date Mar 6, 2026
Source Farislee
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 Faris Lee Investments
HighLights
- Below replacement cost purchase price of $141 per square foot.
- New 10‑year lease with Dollar Tree, complementing their existing top‑performing store (top 2 Percentile nationwide).
- Strategic location at a signalized intersection with high traffic counts (58,288 cars per day) in a strong retail hub.
- Strong trade area demographics with 130,000 residents within 3 miles and an Average Household Income of $102,000 within a 5 mile radius.
- Significant renovations completed in 2014 and 2023, including new facade, roof, parking lot, landscaping, lighting, and signage.
- Corporate‑backed NNN leases with Harbor Freight (Top 3 IL Store) and Dollar Tree, offering ease of management.
Overview
This commercial property features two tenants: Harbor Freight and Dollar Tree. Harbor Freight has approximately 6 years of primary term remaining on their lease and pays a below-market rent of $9.17 per square foot. Dollar Tree signed a new 10-year lease at this location. The property is priced at $141 per square foot, which is below replacement costs for the building. Significant renovations were completed in 2014 and 2023, including a new façade, roof, parking lot, landscaping, lighting, and signage. Dollar Tree added new HVAC and upgraded the interior improvements. The property is located at the signalized intersection of Irving Park Road and Barrington Road, with a combined traffic count of approximately 58,288 cars per day. The surrounding area includes national retailers such as Wal-Mart, Menards, Walgreens, Target, Home Depot, and Jewel-Osco. The area has strong demographics, with approximately 130,000 residents within 3 miles and an average household income of $102,000 within a 5-mile radius.
Location Intelligence
Current Use by Public Records
Shopping centers
Similar Places Nearby
- Westview Center — 7630 barrington rd, streamwood, il 60107
- Orchard Lane Center — 7211 Orchard Ln, Hanover Park, IL 60133
- Wise Plaza — 600 Wise Rd, Hanover Park, IL 60133
- Golf Plaza Mall — 6894 edgebrook ln, hanover park, il 60133
Location Insight
- Map
- Local Demand
- City
- Hanover Park
- County
- Cook
- State
- Illinois
- Longitude
- -88.143
- Latitude
- 42.0044
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Corporate-backed, two-tenant retail property with upside potential.
Where is this shopping center located?
The property is located at 1557-1559 Irving Park Rd Hanover Park, IL.
What are key features of this property?
This property features: Below replacement cost purchase price of $141 per square foot.; **New 10‑year lease with Dollar Tree**, complementing their existing top‑performing store (top 2 Percentile nationwide).; **Strategic location at a signalized intersection with high traffic counts** (58,288 cars per day) in a strong retail hub.
