Three-Tenant Inline Retail
New
For Sale
$8,856,000
5540 Northwest Hwy, Crystal Lake, IL 60014
The leased retail component operates under net leases and is fully occupied by three retailers.
Property Size45,261 SF
Price / SF$195.67
Days on Market2
Property Features for 5540 Northwest Hwy
General Information
Standard status
Active
Size
45,261 SF
Property subtype
Retail
Zoning
B-3: General Business District
Occupancy
100%
Site & Location
Anchor Co-Tenants
Target, Kohl's, Fresh Thyme Farmers Market, Planet Fitness
Traffic Count
24,700 vehicles/day
Additional Details
Tenant in Place
Yes
Building Details
Building Size
45,261 SF
Year Built
2000
Tenancy
Multi
Listing Agency:
SRS Real Estate Partners | Chicago
Listed By:
Dan Elliot · License #475144985
(312) 972-7978
Source:
Srsre
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 28 at 4:17AM
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 SRS Real Estate Partners | Chicago
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Investment Insights
Based on property information with market context.
This Crystal Lake retail offering comprises 45,261 square feet of inline space occupied by Michaels, Daiso and Five Below. The three leases are net in nature, and each includes contractual rent increases. Weighted average lease term is 8.4 years. Michaels represents approximately 39% of the rentable area and 55% of current base rent; its new 10-year lease began in April 2025. Daiso’s new 10-year lease began in March 2025, while Five Below’s lease runs through August 2034.
The property is part of Bohl Farm Marketplace, a 369,000+ SF power center anchored by Target, Kohl’s, Fresh Thyme Farmers Market and Planet Fitness. The center is positioned along Northwest Highway/U.S. Route 14, a corridor with approximately 24,700 vehicles per day. The reported five-mile trade area has more than 122,000 residents and 52,000 daytime employees; the center draws more than 3.7 million visitors annually.
The property is part of Bohl Farm Marketplace, a 369,000+ SF power center anchored by Target, Kohl’s, Fresh Thyme Farmers Market and Planet Fitness. The center is positioned along Northwest Highway/U.S. Route 14, a corridor with approximately 24,700 vehicles per day. The reported five-mile trade area has more than 122,000 residents and 52,000 daytime employees; the center draws more than 3.7 million visitors annually.
Key Highlights
- 45,261 square feet leased to Michaels, Daiso and Five Below
- 100% occupied; all three tenant leases are net in nature
- 8.4‑year weighted average lease term with contractual rent increases for all tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$436,746
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,734,920
$8.7M
Cap Rate 7%
$6,239,229
$6.2M
Cap Rate 9%
$4,852,733
$4.9M
Market Conditions
NOI Build-Up for 45,261 SF
Gross rent
$678.9K $15.00/SF
− Vacancy
−$55.0K −$1.22/SF
EGI
$623.9K $13.79/SF
− OpEx
−$187.2K −$4.14/SF
NOI
$436.7K $9.65/SF
Area
McHenry County, IL
Vacancy
8.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,734,920
Cap Rate 7%
$6,239,229
Cap Rate 9%
$4,852,733
Alternative Uses
Best Use
Retail
$6.24M
$5.46M – $7.28M
NOI $436,746 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$15.63M
$13.67M – $18.23M
NOI $1,093,859 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
24,700 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
453k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 28%
Apparel 26%
Groceries 25%
Electronics 9%
Jewel-Osco
Groceries
56,908 visits/mo
0.1 miles
T.J. Maxx
Apparel
49,316 visits/mo
0.4 miles
Burlington
Apparel
44,868 visits/mo
0.4 miles
Mariano's
Groceries
40,088 visits/mo
0.4 miles
Best Buy
Electronics
39,522 visits/mo
0.2 miles
Demographics for 60014, IL
48,275
Population
18,135
Households
2.7
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
25.1 sq mi
ZIP Area
1,923
Density / Sq Mi
$104,657
Median Household Income
$50,805
Median Earnings
$1,429
Median Rent
$296,100
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Shopping center - The leased retail component operates under net leases and is fully occupied by three retailers.
Where is this shopping center located?
The property is located at 5540 Northwest Hwy Crystal Lake, IL.
What is the asking price?
The asking price for this property is $8,856,000.
What are key features of this property?
This property features: 45,261 square feet leased to Michaels, Daiso and Five Below; 100% occupied; all three tenant leases are net in nature; 8.4‑year weighted average lease term with contractual rent increases for all tenants
