Two-Tenant Med-Tail
For Sale
$1,999,600
16641 S Halsted St, Harvey, IL 60426
Two-tenant med-tail center anchored by DaVita Dialysis with long-term lease options and scheduled rent increases.
Property Size8,864 SF
Price / SF$225.59
Days on Market128
Property Features for 16641 S Halsted St
General Information
Standard status
Active
Size
8,864 SF
Property subtype
Shopping Strip
Financials
Cap Rate
8%
Business Included
Yes
Site & Location
Traffic Count
178,200 vehicles/day
Highway Access
Yes
Amenities
100 Percent Occupied Two-Tenant Med-Tail Center | DaVita Dialysis & Happy Daze
Long-Operating History | DaVita has Been Operating at this Location Since 2006
Lease Features Renewal Options with Scheduled Rental Increases During Each Option Period
0.5 miles from On/Off Ramp of Interstate 294, Which Sees 178,200 Vehicles per Day
Near Top Ranked Shopping Centers and New Casino | Strong Surrounding Drivers
Densely Populated Trade Area with a High Daytime Population
Building Details
Building Size
8,864 SF
Year Built
2006
Tenancy
Multi
Listing Agency:
Chicago Oak Brook Office
(630) 570-2200
Listed By:
Adrian Mendoza · License #IL: 475.147980
(630) 570-2163
Source:
Marcusmillichap
Added: Jun 17
Changed: Oct 21
Last Checked: Oct 20 at 5:15PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,034
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,460,680
$2.5M
Cap Rate 7%
$1,757,629
$1.8M
Cap Rate 9%
$1,367,044
$1.4M
Market Conditions
NOI Build-Up for 8,864 SF
Gross rent
$191.5K $21.60/SF
− Vacancy
−$15.7K −$1.77/SF
EGI
$175.8K $19.83/SF
− OpEx
−$52.7K −$5.95/SF
NOI
$123.0K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,460,680
Cap Rate 7%
$1,757,629
Cap Rate 9%
$1,367,044
Alternative Uses
Best Use
Retail
$1.76M
$1.54M – $2.05M
NOI $123,034 @ 7.0% cap · market cap 6.15%
Second Best
Healthcare Medical
$1.68M
$1.47M – $1.96M
NOI $117,430 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,223 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
178,200 VPD
Traffic count
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 60426, IL
24,114
Population
10,870
Households
2.2
Avg Household Size
37
Median Age
10%
College-Educated
77%
High-School Grad
7.7 sq mi
ZIP Area
3,132
Density / Sq Mi
$40,995
Median Household Income
$29,712
Median Earnings
$987
Median Rent
$88,500
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
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 $1,999,600.
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.
