Historical Retail Sale Listing - Park Lawn Plaza

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Park Lawn Plaza

9600-9652 S. Pulaski Avenue, Oak Lawn, IL 60453

N/A

24,685 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
24,685 SF
Property Type:
Retail
Property Sub-type:
Neighborhood Center
Additional Sub-types:
Street Retail
Retail (Other)
Retail Pad
Property Use Type:
Investment
Cap Rate:
7.50%
Occupancy:
96%
No. Stories:
1
Tenancy:
Multiple
Lot Size:
2.48 AC
Parking Ratio:
4.20 / 1,000 SF
Listing ID
15339554
Last Updated
over 1 year ago

Highlights

  • Below Market rents in an increasingly growing retail market
  • Steady Cash Flow
  • 42,300 ADT on 95th Street
  • 30,700 ADT on Pulaski Avenue
  • Potential upside with a pad site ground lease in 2010

Description

This existing neighborhood shopping center consists of 24,685 rentable square feet sitting on 2.48 acres on heavily traveled Pulaski Avenue. The tenant mix is mostly local and regional tenants with a couple of national tenants occupying the center. With the addition of the new Target/Home Depot center, the subject property will be a sought after location for small shop tenants. The second building on the property could be redeveloped in 2010 after lease expirations into a possible food service/bank ground lease.

Park Lawn Plaza is located directly south of the prime retail intersection of 95th Street and Pulaski Avenue in Oak Lawn, Illinois. Nearby retailers include Target, Home Depot, K-mart, Jewel-Osco, Lasalle Bank, Portillo's, Quizno's and Chuck E Cheese's. The neighborhood has a mix of retail, office and residential properties in close proximity to the subject's location.

Map of 9600-9652 S. Pulaski Avenue, Oak Lawn, IL 60453 (Cook County)

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