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Unanchored Neighborhood Strip Center 265 Peace Rd 16,085 SF 100% Leased Retail Building Sycamore, IL 60178 $2,500,000 ($155.42/SF) 7.60% Cap Rate
Investment Highlights
- 100% Occupied Neighborhood Strip Center offered at a 7.60% cap rate, positioned at a signalized intersection, across the street from the Jewel Grocery
- Most of the tenant leases feature fixed annual increases ranging from 2-4% annually
- Notably low acquisition basis of $155 per square foot
- Low average rents at ~$15 gross, with a wide range in what tenants are currently paying – indicating significant upside by marking rents to market
- Built in 2008, the property is currently undergoing a significant renovation project to update the roof
- Abundant new construction single-family homes in Sycamore as housing costs in inner and outer ring Chicago suburbs have grown prohibitively expensive
Executive Summary
All tenant leases feature annual increases, ranging between 2% and 4%, building in incremental upside that should compound over a new owner’s hold period. Average in-place rents are strikingly low as well. The liquor store on the endcap is paying below $12 per square foot gross, while the nail salon tenant in an interior suite is paying $25 per square foot. This indicates what is achievable at this property as the next owner will have the opportunity to either enjoy fixed annual increases from existing tenants, or mark rents to market as leases roll.
Ownership sold the easternmost endcap unit to the tenant in 2012. As a result, the property is subject to an association which is also controlled by ownership. Control of the association will simultaneously be conveyed at the time of sale along with the subject property. The owner of the endcap pays 20% of overall common area maintenance expenses based on their pro rata share of the building.
Sycamore is a growing community sandwiched between the western suburbs of Chicago and Dekalb, the home of Northern Illinois University. With optimal average household incomes of $116,000 annually and a pronounced increase in new single family home construction, the demographics of this market continue to strengthen and further bolster service and convenience oriented neighborhood retail.
Property Facts
Amenities
- Pylon Sign
- Restaurant
- Signage
- Tenant Controlled HVAC
- Drive Thru
- Monument Signage
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- 35:35 Makers Collective & Vuur Lont Candle Co
- Retailer
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99,999 SF
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- -
- -
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- Arts, Entertainment, and Recreation
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99,999 SF
- -
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CrossFit began in 2000 as a fitness training program built around constantly varied functional movements performed at high intensity. The company developed from a single training method into a broader fitness business centered on coached group training, affiliate gym support, coach education, and certification courses. CrossFit operates the CrossFit Games and provides affiliate tools, workout programming, and business resources for gym owners. The company maintains a large network of affiliated gyms and continues to focus on strength and conditioning, community-based training, and competitive fitness experiences.
- Liquor & Tobacco
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99,999 SF
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- -
- -
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- Accommodation and Food Services
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99,999 SF
- -
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Lorem Ipsum
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Jan 0000
Little Caesars began in 1959 when Mike and Marian Ilitch opened a single pizza restaurant in suburban Detroit. The company grew through franchising and later expanded into international markets, with business materials describing a model centered on quality, convenience, and value. Today, Little Caesars focuses on pizza restaurants, franchise development, and carryout-oriented service, while also supporting community programs such as the Love Kitchen and fundraising initiatives.
- LV Nails & Spa
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99,999 SF
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- -
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- Pachamama Peruvian Restaurant
- Accommodation and Food Services
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99,999 SF
- -
- -
- -
- The Greenhouse In Sycamore Llc
- Agriculture, Forestry, Fishing and Hunting
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99,999 SF
- -
- -
- -
- Treehouse Pie Company
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99,999 SF
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- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| 35:35 Makers Collective & Vuur Lont Candle Co | Retailer | 99,999 SF | - | - | - | |
|
|
Arts, Entertainment, and Recreation | 99,999 SF | - | - | - | |
| Liquor & Tobacco | - | 99,999 SF | - | - | - | |
|
|
Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
| LV Nails & Spa | - | 99,999 SF | - | - | - | |
| Pachamama Peruvian Restaurant | Accommodation and Food Services | 99,999 SF | - | - | - | |
| The Greenhouse In Sycamore Llc | Agriculture, Forestry, Fishing and Hunting | 99,999 SF | - | - | - | |
| Treehouse Pie Company | - | 99,999 SF | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Fully built out restaurant space with drive thru window available for lease. Located on busy Peace Road and across the street from Jewel grocery store in Sycamore's fastest growing corridor gives this property great exposure and fantastic traffic counts.
| Space | Size | Space Use | Position | Available |
| 111 and 110 | 3,999 SF | Restaurant | End Cap | Dec 2026 |
111 and 110
| Size |
| 3,999 SF |
| Space Use |
| Restaurant |
| Position |
| End Cap |
| Available |
| Dec 2026 |
111 and 110
| Size | 3,999 SF |
| Space Use | Restaurant |
| Position | End Cap |
| Available | Dec 2026 |
Fully built out restaurant space with drive thru window available for lease. Located on busy Peace Road and across the street from Jewel grocery store in Sycamore's fastest growing corridor gives this property great exposure and fantastic traffic counts.
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $203,278 | |
| Land Assessment | $167,477 | Total Assessment | $370,755 |
Property Taxes
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Unanchored Neighborhood Strip Center | 265 Peace Rd
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