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    Renovated Retail Space with Planet Fitness Title is generated by Realmo AI

    20909-20939 S Cicero Ave, Matteson, IL

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    Retail property with long-term leases and rent growth potential.

    Type:RETAIL
    Property size:
    36,646 SF
    Lot size:
    3.02 Acres
    Price / SF:
    $174/SF
    Added:
    Oct 27, 2025
    Days on Market:
    227
    Last Refresh:
    May 20 at 8:54 pm

    Property Features for 20909-20939 S Cicero Ave

    General Information

    Standard status
    Active
    Size
    36,646 SF
    Lot size
    3.02 Acres
    Property subtype
    RETAIL

    Properties For Sale

    at 20909-20939 S Cicero Ave Contact us

    We can help!

    Listing Contact
    Isaiah Harf
    Isaiah Harf

    Listing agent Blaise Bennett License #471019332

    Listing office Northmarq | Chicago (East Wacker Dr)

    Listing date Oct 27, 2025

    Source Moodyscre

    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 Northmarq | Chicago (East Wacker Dr)

    HighLights

    • New 12 Year Lease with Large Planet Fitness Operator (93 Locations)
    • Proximity to New 885,000 SF Amazon Fulfillment Center
    • Long‑Term Weighted Average Lease Term with Rent Growth (10+ Years)
    • Immediate Interstate Access in Highly Traveled Retail Corridor
    • 1‑Mile Average Household Income $117k+
    • Recent 2025 Renovations – Brand New Planet Fitness Space

    Overview

    This retail property features a new 12-year lease with a large Planet Fitness operator that has 93 locations. The property benefits from a long-term weighted average lease term with rent growth potential, exceeding 10 years. Recent renovations in 2025 include a brand new Planet Fitness space. The location offers immediate interstate access in a highly traveled retail corridor. It is also in close proximity to a new 885,000 square foot Amazon Fulfillment Center. The average household income within a 1-mile radius is $117,000.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $791.6k $21.60
    − Vacancy −$64.9k −$1.77
    EGI $726.6k $19.83
    − OpEx −$218.0k −$5.95
    NOI $508.7k $13.88
    36,646 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $7.27M
    $6.36M – $8.48M (±1% cap)
    NOI $508,652 @ 7.0% cap · market cap 7.97%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $12.65M
    $11.07M – $14.76M (±1% cap)
    NOI $885,653 @ 7.0% cap · market cap 13.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Lincoln — 208 Lincoln Mall Dr, Matteson, IL 60443
    • Matteson Town Center Shopping Mall — Matteson, IL 60443
    • Mall Of India — 21410 S Cicero Ave, Matteson, IL 60443
    • Matteson,IL Cross Roads Plaza Shopping Mall — Matteson, IL 60443
    • Lincoln Mall — 208 Lincoln Mall Dr, Matteson, IL 60443

    Location Insight

    • Map
    • Local Demand
    City
    Matteson
    County
    Cook
    State
    Illinois
    Longitude
    -87.7308
    Latitude
    41.5086

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    FAQs

    What type of property is this?
    Shopping center - Retail property with long-term leases and rent growth potential.
    Where is this shopping center located?
    The property is located at 20909-20939 S Cicero Ave Matteson, IL.
    What is the asking price?
    The asking price for this property is $6,385,000.
    What are key features of this property?
    This property features: New 12 Year Lease with Large Planet Fitness Operator (93 Locations); Proximity to New 885,000 SF Amazon Fulfillment Center; Long‑Term Weighted Average Lease Term with Rent Growth (10+ Years)
    (312) 240-0127 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Isaiah Harf
    Isaiah Harf
    Real Estate License ID: 471019332
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