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1323 W Lake St
Addison, IL 60101
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Located in a very dense corridor filled with residential, hotels, offices, and more.
- Primary retail corridor
- Down the road from the Eaglewood Resort & Spa
- Just minutes from O’Hare Airport
- Great access to and from highways serving Chicago’s west suburbs.
- Numerous retailers in the immediate area including Walmart, Sam’s Club, Culver’s, Aldi’s, Dunkin, IHOP and more.
EXECUTIVE SUMMARY
Colliers Net Lease Investment Group is pleased to present a stabilized real estate investment opportunity with a value-add component. This standalone property houses two well-known tenants: a closed Chicago pizza restaurant and a national cellphone store. This net-leased property is strategically located at 1323 W. Lake St in Addison, IL, and was constructed in 2005. It forms an integral part of a thriving development that encompasses numerous residential condominiums, a prominent BMO Harris Bank branch, Culver’s, and an advanced Amita Health immediate care and medical imaging facility.
Positioned strategically along the bustling US Hwy 20, just southeast of the I-355 interchange and Route 53 interchange, this property offers unparalleled accessibility, facilitating seamless north-south connections throughout Chicago’s western suburbs.
This offering presents savvy investors with a unique opportunity to acquire a stable asset and has 3 years to work to backfill the pizza space.
This opportunity is offered at $1,992,863 and a 8.00% cap rate
Positioned strategically along the bustling US Hwy 20, just southeast of the I-355 interchange and Route 53 interchange, this property offers unparalleled accessibility, facilitating seamless north-south connections throughout Chicago’s western suburbs.
This offering presents savvy investors with a unique opportunity to acquire a stable asset and has 3 years to work to backfill the pizza space.
This opportunity is offered at $1,992,863 and a 8.00% cap rate
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,025 SF
Building Class
C
Year Built
2005
Price
$1,992,863
Price Per SF
$283.68
Cap Rate
8%
NOI
$159,429
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.11
Lot Size
1.49 AC
Zoning
C
Parking
79 Spaces (11.25 Spaces per 1,000 SF Leased)
Frontage
180’ on W Lake St
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 03-19-208-053 | Improvements Assessment | $335,086 |
| Land Assessment | $395,035 | Total Assessment | $730,121 |
PROPERTY TAXES
Parcel Number
03-19-208-053
Land Assessment
$395,035
Improvements Assessment
$335,086
Total Assessment
$730,121
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