10.7% Cap Shadow Anchor to Walmart and Lowe in Chicago
The Details
- 9,755 SF retail outlot
- Outlot to Walmart and Lowe’s anchored retail complex
- Fully leased building at sale
- Tenants are Athletico Physical Therapy, a dentist & Boost Mobile
- All long-term tenants, each with two 5-year renewal options
- Potential to add value thru leasing
- 2019 Cap Rate: 10.7%
- Nearby businesses: Planet Fitness, Chase, Aldi, Home Depot & more
- Traffic Count: 15,400 cars daily
- Land Area: 46,374 SF
- Zoning: PD 966, 83rd/Stewart TIF
Part of the Chatham Market, a 9,755 square foot retail outlot is available for sale. The four unit building is 84.1% leased to Athletico Physical Therapy, a dentist and Boost Mobile. All three are long-term tenants, and each tenant has two remaining 5-year renewal options The current owner is willing to sign a master lease for the 1,545 square foot unit for one year at closing. The outlot, developed in 2008, is part of a 373,000 square foot retail complex anchored by Walmart and Lowe’s; three development sites in the center are also available for sale. Other nearby businesses include Planet Fitness, Chase, Aldi, Home Depot, GameStop and more.
Located 10 miles south of the Loop, Chatham is a middle class neighborhood on the south side. The neighborhood is one of the strongest retail areas outside of downtown Chicago. Near the Dan Ryan Expressway and with frontage on 83rd St., this outlot is a highly visible property in a strong retail complex.