1938 Lincoln Hwy New Lenox, IL 60451
- Retail properties
- 63,404 SF
Current Use by Public Records
- Retail properties
Property Details for 1938 Lincoln Hwy
- Property size
- 63,404 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
Atrium Point, a Class A, mixed-use property located at 1938 E Lincoln Hwy in New Lenox, Illinois (zip code 60451), presents a compelling core-plus investment opportunity. This fee-simple offering encompasses 63,404 square feet across a two-story building, boasting a strong 90% occupancy rate and a noteworthy Net Operating Income (NOI) of $976,855, resulting in a 7.24% capitalization rate. The asking price is $13,500,000, translating to $212.92 per square foot. The property features 220 surface parking spaces and benefits from a prime location on a signalized corner at the intersection of Lincoln Hwy and Lincolnway Road, experiencing a high daily vehicle count of 34,179. Its strategic positioning provides convenient access to I-80 and public transportation, including rail. The surrounding area is affluent, with average household incomes exceeding $148,000 within a five-mile radius. Building amenities include two monument signs, a bank with three drive-thru lanes, multiple entrances, and elevators. The property is anchored by a diverse tenant mix and enjoys close proximity to numerous national retailers, including Walmart, Lowe's, Target, and many more, ensuring a robust and stable tenant base. The lease type is NNN (Triple Net Lease) with multi-tenancy. Built in 2005, Atrium Point offers a rare combination of strong financial performance, prime location, and excellent amenities, making it an ideal investment for discerning buyers.
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
- New Lenox
- County
- Will
- State
- Illinois
- Longitude
- -87.9277
- Latitude
- 41.5095
