260 North Ave Addison, IL 60101
- Lifestyle centers
- 16,000 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 260 North Ave
- Property size
- 16,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 16,000 square foot shopping center in Addison, Illinois, presents a compelling investment opportunity. Located at the strategic intersection of North Avenue and Addison Road in DuPage County, this fully occupied, eight-store property boasts a 100% occupancy rate with three tenants under triple net leases. The center underwent renovations in 2019 and features ample parking. The property benefits from high visibility due to its prominent location on North Avenue and its proximity to major retailers and food chains, including Portillo's, White Castle, Dunkin' Donuts, Aldi, Fresh Market, Popeyes, Advance Auto Parts, and more. The center enjoys excellent access to major interstates (I-290, I-294, and I-355), placing it within easy reach of Chicago's western and southwestern suburbs, as well as nearby towns like Elmhurst, Glen Ellyn, and Lombard. The property sits on approximately one acre of land. The asking price is $5,100,000, representing a 7.00% cap rate. The remaining lease term is five years. The annual gross income is $402,000, with estimated annual expenses of $80,000. The property is currently undergoing a separation process from an adjacent banquet building. This is a rare opportunity to acquire a high-performing retail asset in a thriving DuPage County location.
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
- Addison
- County
- DuPage
- State
- Illinois
- Longitude
- -88.0021
- Latitude
- 41.9321
