8821 87Th St Hickory Hills, IL 60457

Property Details for 8821 87Th St

Year built

1988

Lot size

5.42 lot acres

Property size

41,650 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 41,650 square-foot, single-story shopping center in Hickory Hills, IL. Located at 8821 W 87th Street, this multi-tenant retail property sits on a 5.42-acre lot and boasts 96% occupancy, generating a strong NOI of $326,104 and an 8.81% cap rate. The asking price is $3,700,000 ($88.84/sq ft). Built in 1988, the property features a well-maintained brick building with 242 parking spaces and four entrances for optimal traffic flow. Its prime location at the southwest corner of 87th Street and 88th Avenue, near I-294, benefits from high visibility and convenient access. Anchored by a recently renewed Dollar General, the center is comprised of internet-resistant tenants with long-term leases. The property includes an undeveloped outlot offering significant potential for future development and increased NOI. Current tenants enjoy a synergistic relationship, benefiting from diverse businesses and contrasting peak hours. Cross-access with neighboring CVS and Shell gas station further enhances convenience and foot traffic. This stabilized, value-add investment presents a compelling opportunity for significant returns through both outlot development and lease repositioning to market rates. The property's strong location, high occupancy, and diverse tenant mix make it an attractive investment for discerning buyers.