Property Details for 1000 162Nd St

Lot size

2.27 lot acres

Property size

33,654 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents Pacesetter Plaza, a 33,654-square-foot multi-tenant retail center situated at 1000 E 162nd St, South Holland, IL 60473. Boasting a 97% occupancy rate and a strong net operating income (NOI) of $390,809, this property offers a compelling 9.00% capitalization rate at an asking price of $4,340,000. The center features a diverse mix of 15 tenants, all operating under net lease agreements, minimizing landlord responsibilities and ensuring consistent cash flow. Located on a highly visible, signalized intersection of 162nd Street (Route 6), a major retail thoroughfare with over 35,600 vehicles per day, the property benefits from exceptional visibility and accessibility. Its strategic location, just 20 miles from downtown Chicago and easily accessible from major interstates, ensures a robust customer base. The surrounding area is densely populated, with over 222,624 residents and over 900 businesses within a 3-mile radius, boasting an average household income exceeding $77,000. The presence of nearby South Suburban College and Thornwood High School further enhances the area's demographic appeal. This thriving retail corridor generates over $1 billion in annual sales, and Pacesetter Plaza benefits from the proximity of national retailers such as Aldi, Jewel-Osco, and others. The property includes 140 parking spaces and sits on a 2.27-acre lot. The property is located within a Tax Increment Financing (TIF) district. Several tenants are currently paying below-market rent, presenting a value-add opportunity for potential rent increases. All leases include annual rent increases. This is a rare opportunity to acquire a high-performing retail asset in a prime location with significant upside potential.

Location Insight

City

South Holland

County

Cook

State

Illinois

Longitude

-87.5925

Latitude

41.6012