11055 Western Ave Chicago, IL 60643

Property Details for 11055 Western Ave

Year built

2002

Lot size

1.21 lot acres

Property size

15,717 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 15,717 square-foot Dollar Tree storefront in Chicago, IL, boasting a new 10-year net lease (commencing November 28, 2023, and expiring November 27, 2033) with three 5-year renewal options, each including a $0.50/SF rent increase. The property, built in 2002 and situated on a 1.21-acre lot at 11055 S Western Ave, Chicago, IL 60643, enjoys a prime location with high visibility along South Western Avenue (27,900 vehicles per day) and proximity to Interstate 57 (145,000 vehicles per day). The property benefits from significant recent capital improvements, including a newly sealed and striped parking lot, updated parking lighting, a modernized fire sprinkler system, electrical upgrades, and a new monument sign. The HVAC system was also replaced in 2018. This investment-grade tenant (S&P: BBB) delivers a strong 6.70% cap rate and a substantial NOI of $180,745. The property is surrounded by strong demographics, with an average household income exceeding $122,642 within a one-mile radius and a population of 449,479 within a five-mile radius. Nearby businesses include Fairplay Foods, NAPA Auto Parts, Meineke, PNC Bank, Buona Beef, U-Haul, and others, further enhancing the location's appeal. The property's location near Morgan Park High School (1,200+ students) adds to its strategic advantage. This is a compelling urban-infill location with high barriers to entry for competing businesses. The asking price is $2,697,687, representing a price per square foot of $171.64. 100% occupancy ensures a consistent income stream.

Location Insight

City

Chicago

County

Cook

State

Illinois

Longitude

-87.6808

Latitude

41.6926