This property is Off-Market

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

24,685 SF · Retail For Sale

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Park Lawn Plaza

Price N/A Occupancy 96%
Gross Leasable Area 24,685 SF No. Stories 1
Property Type Retail Tenancy Multiple
Property Sub-type
Neighborhood Center
More...
  • Street Retail
  • Retail (Other)
  • Retail Pad
Lot Size 2.48 AC
Property Use Type Investment Parking Ratio 4.20 / 1,000 SF
Cap Rate 7.50%
Listing ID: 15339554 Date Created: 09/17/2007 Last Updated: 01/18/2008

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.

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

Research

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

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