Renovated Retail Center with
340-358 W Maple St, New Lenox, IL 60451
Value-add retail opportunity in a high-traffic location.
Type:Strip Center Retail & Executive Office Suites
Property size:
45,260 SFPrice / SF:
$152/SF- Added:
- Nov 21, 2025
- Days on Market:
- 181
- Last Refresh:
- Jan 30 at 8:32 pm
Property Features for 340-358 W Maple St
General Information
- Standard status
- Active
- Size
- 45,260 SF
- Property subtype
- Strip Center Retail & Executive Office Suites
Building Details
- Year Built
- 1957
Listing agent Denise Henry License #3085228
Listing office RE/MAX Anchor Realty (941) 628-0856
Listing date Nov 21, 2025
Source Svnchicago
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 RE/MAX Anchor Realty
HighLights
- Value‑add opportunity with immediate upside through lease‑up of 10 Suite Hub units and potential to increase existing rents to market rate.
- Anchored by Whitmore Ace Hardware, a long‑standing and reputable tenant that generates consistent foot traffic.
- Excellent accessibility and visibility due to its strategic location near I‑80 and the New Lenox Metra Station.
- Recently renovated in 2023.
- Located in a high‑traffic area within a thriving retail corridor serving a strong residential base.
- Located on W. Maple Street (US‑30) in New Lenox Township, Will County, Illinois.
Overview
Located at 340–358 W. Maple Street in New Lenox, Illinois, the Lincoln-Way Center offers a retail opportunity in Will County. The neighborhood shopping center is anchored by Whitmore Ace Hardware. The center was recently renovated in 2023. It is strategically located near I-80 and the New Lenox Metra Station, providing accessibility and visibility within the growing southwest suburban market. The property offers upside through the lease-up of 10 remaining Suite Hub units and the potential to bring existing rents up to market rate. The high-traffic center serves a residential base and is situated within a retail corridor. The property has frontage on W. Maple Street (US-30) and is minutes from I-80. The property size is 45260 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$4.75M
NOI $427,707 @ 9.00% cap · cautious / downside scenario
Moderate
$6.11M
NOI $427,707 @ 7.00% cap · market / base-case scenario
Aggressive
$8.55M
NOI $427,707 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $678.9k | $15.00 |
| − Vacancy | −$67.9k | −$1.50 |
| EGI | $611.0k | $13.50 |
| − OpEx | −$183.3k | −$4.05 |
| NOI | $427.7k | $9.45 |
45,260 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$6.11M
$5.35M – $7.13M
NOI $427,707 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.26M
$8.98M – $11.98M
NOI $718,548 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Shopping centers
Similar Places Nearby
- Rochelle Commons Shopping Center — 330 May Mart Dr, New Lenox, IL 60451
- Coinstar Kiosk | Bitcoin ATM — NAI 475 N, Nelson Rd, New Lenox, IL 60451
Location Insight
- Map
- Local Demand
- City
- New Lenox
- County
- Will
- State
- Illinois
- Longitude
- -87.9753
- Latitude
- 41.5159
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Value-add retail opportunity in a high-traffic location.
Where is this shopping center located?
The property is located at 340-358 W Maple St New Lenox, IL.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: Value‑add opportunity with immediate upside through lease‑up of 10 Suite Hub units and potential to increase existing rents to market rate.; Anchored by Whitmore Ace Hardware, a long‑standing and reputable tenant that generates consistent foot traffic.; Excellent accessibility and visibility due to its strategic location near I‑80 and the New Lenox Metra Station.
