4836 183Rd St Country Club Hills, IL 60478
- Lifestyle centers
- 18,923 SF
- 1.59 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 4836 183Rd St
- Year built
- 1972
- Lot size
- 1.59 lot acres
- Property size
- 18,923 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 18,923-square-foot shopping center in Country Club Hills, IL, presents a compelling value-add opportunity. Located at the signalized intersection of Cicero Avenue and 183rd Street, the property boasts high visibility to over 27,000 vehicles daily. Currently 100% occupied with thirteen tenants, ten of which have built-in 3% annual rent increases, the center offers a stable income stream and significant upside potential. The asking price is $1,996,000, representing a 9.5% cap rate on current NOI of $189,629, projected to increase to a 9.85% cap rate in year two. Built in 1972 and extensively renovated in 2023, the single-story building sits on a 1.59-acre lot and features ample parking (100 spaces per 1,000 sq ft). Recent capital expenditures exceeding $150,000 encompassed facade improvements, HVAC upgrades, and parking lot resurfacing. The property benefits from prominent pylon and interior illuminated channel signage, ensuring excellent tenant visibility. The gross lease structure and fee simple ownership provide a straightforward investment. The price per square foot is $105, with land value at $28 per square foot. This well-maintained shopping center offers a strong return on investment with built-in growth potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Country Club Hills
- County
- Cook
- State
- Illinois
- Longitude
- -87.7343059
- Latitude
- 41.5575863
