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DaVita Dialysis & Happy Daze 16641 Halsted St 8,864 SF 100% Leased Retail Building Harvey, IL 60426 $2,100,000 ($236.91/SF) 8% Cap Rate
Investment Highlights
- 100 Percent Occupied Two-Tenant Med-Tail Center | DaVita Dialysis & Happy Daze
- Lease Features Renewal Options with Scheduled Rental Increases During Each Option Periodod
- Near Top Ranked Shopping Centers and New Casino | Strong Surrounding Drivers
- Long-Operating History | DaVita has Been Operating at this Location Since 2006
- 0.5 miles from On/Off Ramp of Interstate 294, Which Sees 178,200 Vehicles per Day
- Densely Populated Trade Area with a High Daytime Population
Executive Summary
Investors are offered the opportunity to acquire a two-tenant med-tail center anchored by DaVita Dialysis. DaVita accounts for over 77 percent of the base rent and has successfully operated at this location for 20 years, recently exercising a five-year option. Happy Daze is a successful Chicagoland chain of smoke and vape shops currently operating seven locations. Happy Daze has operated at this location for eight years and has one, 10-year option remaining. With a strong history of high occupancy, the property offers durable cash flow for investors. Illinois is a Certificate of Need state, further ensuing the stability of property.
Each lease includes scheduled rental increases, supporting long-term income growth. The property offers high visibility and is located just 0.5 miles from I-294 (178,200 vehicles per day). Frontage along S. Halsted Street (18,000 vehicles per day) exceeds 200 feet. Nearby demand drivers include the Wind Creek Chicago Southland casino/resort and several top-performing retail centers with national tenants. Underpinning the property’s strong fundamentals is a dense trade area with over 74,000 residents and nearly 80,000 employees within a three mile radius.
Each lease includes scheduled rental increases, supporting long-term income growth. The property offers high visibility and is located just 0.5 miles from I-294 (178,200 vehicles per day). Frontage along S. Halsted Street (18,000 vehicles per day) exceeds 200 feet. Nearby demand drivers include the Wind Creek Chicago Southland casino/resort and several top-performing retail centers with national tenants. Underpinning the property’s strong fundamentals is a dense trade area with over 74,000 residents and nearly 80,000 employees within a three mile radius.
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Property Facts
Sale Type
Investment
Property Type
Building Size
8,864 SF
Building Class
B
Year Built
2006
Price
$2,100,000
Price Per SF
$236.91
Cap Rate
8%
NOI
$167,971
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.34
Lot Size
0.60 AC
Opportunity Zone
Yes
Parking
25 Spaces (2.82 Spaces per 1,000 SF Leased)
Frontage
200’ on Halsted St
Somewhat walkable
30/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $37,226 | |
| Land Assessment | $6,304 | Total Assessment | $43,530 |
Property Taxes
Parcel Numbers
Land Assessment
$6,304
Improvements Assessment
$37,226
Total Assessment
$43,530
Contacts
-
Adrian Mendoza -
Sean Sharko -
Austin Weisenbeck -
Daniel Chumbley -
Sharko | Weisenbeck | Mendoza Group
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