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LA Fitness Anchored Retail Center 1547-1557 S Lake Street 89,357 SF 100% Leased Retail Building Mundelein, IL 60060 $14,838,000 ($166.05/SF) 8.01% Cap Rate
INVESTMENT HIGHLIGHTS
- LA Fitness Anchored Retail Center with Long-Term Leases | 9.86-year WALT
- Located at the Signalized Intersection of S Lake Street and W Townline Road, Which sees a Combined Traffic Volume of 62,100 Vehicles per Day
- 2.1 Miles from Hawthorn Mall which Attracts 2.8M Annual Visitors | Currently Undergoing a $250 Million Redevelopment Transformation
- All Tenants Operate Under a Net Lease with Scheduled Rental Increases In-Place
- Positioned within Townline Square Shopping Center, which Attracts Two Million Annual Visitors | Shadow Anchored by Jewel-Osco
- Average Household Income of $173,240 within a Five-Mile Radius
EXECUTIVE SUMMARY
This regional shopping center is anchored by LA Fitness and features a 9.86-year weighted average lease term (WALT). Most tenants operate under long-term net leases, providing stable, predictable income. LA Fitness signed a 16-year lease in 2023, while Kids Empire and The Dog Stop each signed 10-year leases in 2024 and 2023, respectively. All leases include renewal options and scheduled rental increases.
The property is part of Townline Square Shopping Center, which draws over two million annual visitors. LA Fitness is the most visited location for the brand within a 15-mile radius, outperforming nine other sites.
Strategically positioned at a signalized intersection with traffic counts exceeding 60,000 vehicles per day, the site offers exceptional visibility and access. The center benefits from strong retail synergy and is located just minutes from the $250 million redevelopment of Hawthorn Mall. It sits within an affluent trade area, where the average household income reaches $173,240 within a five-mile radius.
The property is part of Townline Square Shopping Center, which draws over two million annual visitors. LA Fitness is the most visited location for the brand within a 15-mile radius, outperforming nine other sites.
Strategically positioned at a signalized intersection with traffic counts exceeding 60,000 vehicles per day, the site offers exceptional visibility and access. The center benefits from strong retail synergy and is located just minutes from the $250 million redevelopment of Hawthorn Mall. It sits within an affluent trade area, where the average household income reaches $173,240 within a five-mile radius.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Department Store
Building Size
89,357 SF
Building Class
C
Year Built
2019
Price
$14,838,000
Price Per SF
$166.05
Cap Rate
8.01%
NOI
$1,188,809
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.27
Lot Size
7.49 AC
Zoning
C-2, Mundelein
Parking
414 Spaces (4.63 Spaces per 1,000 SF Leased)
Frontage
530’ on South Lake Street
AMENITIES
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 11-31-403-002 | Improvements Assessment | $452,233 |
| Land Assessment | $772,061 | Total Assessment | $1,224,294 |
PROPERTY TAXES
Parcel Number
11-31-403-002
Land Assessment
$772,061
Improvements Assessment
$452,233
Total Assessment
$1,224,294
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LA Fitness Anchored Retail Center | 1547-1557 S Lake Street
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