Courtesy of Brookline Real Estate LLC

16101 S Farrell Road

Lockport, IL, 60441

$9,950,000

$237 per ft²
$9,950,000
$237 per ft²
Sold
Sold
carpenters-square
41,913 ft²
property_type
Commercial
calendar
Built 2007
Our brokerage is proud to present the opportunity to acquire a community center positioned in a strong transit oriented location in the Chicago suburb of Lockport. Lockport Square contains a total of 41,913 square feet between two buildings and is situated on approximately 7.15 acres. Just off I-355 near the southeast corner of 159th Street and Farrell Road, the center benefits greatly from its position among dozens of national retailers, and directly between a Walmart Supercenter and Jewel-Osco. More nearby developments are currently being completed and underway including a new car dealership. Anchored by Dollar Tree, Sherwin Williams and Mary Sears Daycare, the center is occupied by strong, accredited and internet-resistant businesses on long-term leases. All three aforementioned anchors have also recently extended their leases, demonstrating their firm confidence in the location. The stabilized property is even further strengthened by multiple Corporate Guarantees. Differentiated businesses and contrasting peak traffic hours allow for an ideal synergy and mutual benefit across the property. The all-brick, newer construction building has been remarkably-maintained and offers its visitors over 300 total parking spots in two accessible lots. Multiple entrances on Farrell Road and shared access with Walmart and Chase Bank aid traffic flow and allow tenants to operate smoothly. This asset is being offered at a 6.50% CAP rate with tremendous cash flow and continued growth.
MLS® ID:
11328097
Listed:
2/17/22
Updated:
8/17/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central Individual

Exterior/Building Features

Lot Size
7.15 acres lot

Other Property Details

Area Name
Homer / Lockport
Taxes
$165123
Tax Frequency
per YEAR
Garage
No
Parking
N
Parking Total
300.0
View
N
County
Will
Pool
No
Total Stories
1
Zoning
COMMR

Property History

Date
Event
Price
Value
8/11/22
Sold
-
-
8/11/22
Price Change
$9,950,000
-3%

 

Courtesy of Brookline Real Estate LLC

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Data last updated 3:27 PM UTC, 8/17/22

 

 

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