8821 W 87th Street, Hickory Hills, IL 60457

  • $3,800,000
  • $4,600,000
8821 W 87th Street, Hickory Hills, IL 60457
  • Commercial Sale
  • Property Type
  • 1988
  • Year Built
For Sale
8821 W 87th Street, Hickory Hills, IL 60457
  • $3,800,000
  • $4,600,000

Overview

Property ID: 71127
  • Commercial Sale
  • Property Type
  • 1988
  • Year Built

Description

We are proud to present the opportunity to acquire a value-add investment property including a 40,850 square foot multi-tenant retail center and three undeveloped outlots positioned in a strong, transit-oriented location in the Chicago suburb of Hickory Hills. This property offers tremendous upside and future NOI growth through the potential for development of the outlots. Furthermore, new ownership can add value by repositioning the below-market gross leases into NNN market rents. 87th Plaza contains 40,850 square feet and is situated on approximately 6.26 acres. At the southwest corner of 87th Street and 88th Avenue just south of I-294, the center benefits greatly from its position next to CVS and Shell Gas Station across from Hickory Hills Police Department. Anchored by recently-renewed variety store chain, Dollar General, the center is fully occupied by many internet-resistant tenants on long-term leases. Differentiated businesses and contrasting rush hours allow for an ideal synergy and mutual benefit across the property. The brick construction building has been beautifully maintained and offers its visitors 242 parking spots in a landscaped and well-kept lot. Three entrances on two separate roads aid traffic flow and allow tenants to operate smoothly. Cross access with CVS and Shell allows for entry for those customers as well. This asset has tremendous upside potential through future development and repositioning of the property.

  • Address 8821 W 87th Street
  • City Hickory Hills
  • State/county IL
  • Zip/Postal Code 60457
  • Country United States

Details

Updated on February 20, 2024 at 1:12 am
  • Property ID: 71127
  • Price: $3,800,000
  • Year Built: 1988
  • Property Type: Commercial Sale
  • Property Status: For Sale
  • Living Area: 39590
  • MLS#: MRD11659191
  • Office Name: BROOKLINE REAL ESTATE LLC
  • Agent Name: Dominick Cannata
  • MLS Status: Active
  • Living Area Prefix: SqFt

Additional details

  • List Office MLSID: MRD24880
  • List Agent MLSID: MRD231694
  • List Date: 2022-10-24T17:19:55.000Z
  • Cooling: Central Individual
  • Tax Annual: 240000
  • Tax Year: 2021
  • County: Cook
  • Property SubType: Strip Center

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