5219 Touhy Ave Chicago, IL 60645
- Lifestyle centers
- 16,940 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 5219 Touhy Ave
- Year built
- 2017
- Property size
- 16,940 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A, 16,940 square-foot shopping center in Skokie, IL (Chicago MSA), boasts a prime location on Touhy Avenue, directly accessible from Interstate 94. Built in 2017, the property features a striking brick and stone façade, meticulously maintained landscaping, and a remaining 8-year roof warranty. The two single-story buildings are 100% occupied by a strong tenant mix including Starbucks (with a drive-thru), Aspen Dental, AT&T, European Wax Center, VCA Animal Hospital, and two recent additions with 10 and 7-year leases. All tenants are on triple-net leases, providing a stable investment with a weighted average lease term of 6.8 years and built-in rent bumps. The property benefits from a highly affluent demographic, with average household incomes exceeding $125,000 within a one-mile radius and over 700,000 residents within five miles. Touhy Avenue sees over 41,000 vehicles per day, and I-94, just west of the property, boasts over 150,000 vehicles daily. The property's strong performance is reflected in its current NOI of $679,667 and a 6.65% cap rate. Offered at $10,225,000, this is a rare opportunity to acquire a high-performing, well-located retail investment in a thriving Chicago suburb. Recent leasing activity includes a 10-year Starbucks renewal and a 5-year Aspen Dental renewal. The property is free and clear of debt.
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
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6926
- Latitude
- 42.0105
