Strip Center with Available Retail
2320-2360 East Lincoln Highway New Lenox, IL 60451
For Sale
Contact for pricing
A 15,080 SF strip center with one 1,623 SF suite available and strong existing occupancy.
Property Size15,080 SF
Price / SF$293.82
Days on Market64
Property Features for 2320-2360 East Lincoln Highway
General Information
Standard status
Active
Size
15,080 SF
Property subtype
Retail
Building Details
Year Built
2006
Listing Agency:
CBRE - Oak Brook
Listed By:
Adam Foret · License #IL 475160621
Source:
Crexi
Added: May 28
Changed: Jul 10
Last Checked: Jul 29 at 1:48PM
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.
Shops of New Lenox is a 15,080 SF strip center with 89.2% occupancy and one available retail suite totaling 1,623 SF. The center has a documented history of leasing activity totaling 7,398 SF over a recent period, giving a future owner an opportunity to complete lease-up on the remaining space.
The property benefits from adjacency to the New Lenox Retail Center, described as a highly trafficked shopping center with over 2.4 million visits. It also offers prominent visibility on the south side of Lincoln Highway, a primary east-west thoroughfare. Traffic counts in front of the property are stated as exceeding 27,300 vehicles per day.
For prospective buyers, this is a straightforward acquisition of a largely occupied neighborhood retail asset positioned along a major commuter corridor. The combination of in-place tenants, nearby retail draw, and a dedicated available suite can support a practical ownership goal of retaining current momentum while marketing the remaining space to qualified retail tenants.
The property benefits from adjacency to the New Lenox Retail Center, described as a highly trafficked shopping center with over 2.4 million visits. It also offers prominent visibility on the south side of Lincoln Highway, a primary east-west thoroughfare. Traffic counts in front of the property are stated as exceeding 27,300 vehicles per day.
For prospective buyers, this is a straightforward acquisition of a largely occupied neighborhood retail asset positioned along a major commuter corridor. The combination of in-place tenants, nearby retail draw, and a dedicated available suite can support a practical ownership goal of retaining current momentum while marketing the remaining space to qualified retail tenants.
Key Highlights
- 15,080 SF strip center built in 2006 in New Lenox, IL
- One suite available totaling 1,623 SF, with leasing activity totaling 7,398 SF
- Currently 89.2% occupied
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 | $226.2k | $15.00 |
| − Vacancy | −$22.6k | −$1.50 |
| EGI | $203.6k | $13.50 |
| − OpEx | −$61.1k | −$4.05 |
| NOI | $142.5k | $9.45 |
15,080 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.04M
$1.78M – $2.38M
NOI $142,506 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,410 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- New Lenox Retail Center — 2480 E Lincoln Hwy, New Lenox, IL 60451
- Country Charm Plaza — 13150 E Lincoln Hwy, New Lenox, IL 60451
Frequently Asked Questions
What type of property is this?
Shopping center - A 15,080 SF strip center with one 1,623 SF suite available and strong existing occupancy.
Where is this shopping center located?
The property is located at 2320-2360 East Lincoln Highway New Lenox, IL.
What is the asking price?
The asking price for this property is $4,430,740.
What are key features of this property?
This property features: 15,080 SF strip center built in 2006 in New Lenox, IL; One suite available totaling 1,623 SF, with leasing activity totaling 7,398 SF; Currently 89.2% occupied
