1559 Irving Park Rd Hanover Park, IL 60133

This exceptional 24,696 square foot retail strip center in Hanover Park, Illinois, presents a compelling investment opportunity. Anchored by a Harbor Freight and a Dollar Tree, both boasting strong corporate guarantees, the property offers a stable income stream with a 6.75% cap rate and a substantial NOI of $234,977. The two tenants occupy the entire building, with Harbor Freight holding a lease with approximately six years remaining and Dollar Tree having recently signed a new 10-year lease. The property benefits from a prime location at a signalized intersection of Irving Park Road and Barrington Road, experiencing approximately 58,288 vehicles per day. Significant renovations were completed in 2014 and 2023, encompassing a new façade, roof, parking lot, landscaping, lighting, and signage. Dollar Tree further invested in HVAC and interior improvements. The 2.18-acre lot provides ample parking for 106 vehicles. The property is zoned commercial and features a fee simple ownership structure (land and building). The strong tenant mix, favorable lease terms, and below-replacement-cost pricing make this a highly attractive investment in a thriving retail corridor surrounded by national retailers such as Menards, Walmart, Walgreens, Target, Home Depot, and Jewel-Osco. The area demographics are equally impressive, with approximately 130,000 residents within a 3-mile radius and an average household income exceeding $100,000 within a 5-mile radius. The asking price is $3,481,000. APN: 07-30-301-022.