1080 Hickory Point Mall Forsyth, IL 62535
- Retail properties
- 90,500 SF
- 2.26 lot acres
Current Use by Public Records
- Kohl's / Department Store
Property Details for 1080 Hickory Point Mall
- Year built
- 1983
- Lot size
- 2.26 lot acres
- Property size
- 90,500 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 90,500 square foot Kohl's storefront on a 2.26-acre parcel in Forsyth, Illinois. Located within the Hickory Point Mall, a prominent 808,000 square foot regional mall featuring a mix of national retailers including Von Maur, Ross Dress for Less, TJ Maxx, Ulta, and Hobby Lobby, this property offers significant upside potential. The property boasts a strong 6.75% cap rate and a Net Operating Income (NOI) of $159,500. The current lease is a NNN ground lease with Kohl's, a long-standing tenant since 1982, recently exercising a five-year option extending the lease to January 31, 2029, providing a remaining lease term of 4.2 years. The property benefits from high traffic counts on US Route 51, a major north-south artery with 17,600 vehicles per day, and proximity to Interstate 72. Kohl's has consistently invested in its Hickory Point Mall location, including a 28,000 square foot expansion in 2003 and the recent addition of a Sephora boutique. The asking price is $2,365,000, translating to $26.13 per square foot. The property's location within a thriving retail corridor, evidenced by recent development activity including a new Starbucks and Panda Express, further enhances its value and long-term prospects. This is a rare opportunity to acquire a well-positioned, high-performing retail investment with a strong tenant and a secure long-term lease. The property is 100% occupied.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Forsyth
- County
- Macon
- State
- Illinois
- Longitude
- -88.9617
- Latitude
- 39.917
