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Value-Add Neighborhood Strip Center 605-625 N Midlothian Rd 9,750 SF 100% Leased Retail Building Mundelein, IL 60060 For Sale
INVESTMENT HIGHLIGHTS
- Major Add-Value Opportunity | 2021 Renovation
- Signalized Hard-Corner Intersection | High Visibility and Accessibility | 25,600 Vehicles per Day
- Across the Street from Mundelein High School, which Serves 2,261 Students
- 7,950 Square Feet of Vacant Space Available for Lease, Providing a Significant Add-Value Opportunity
- Average Household Income of $160,472 within a Five-Mile Radius
- 0.6 Miles from Carl Sandburg Middle School, which Serves 533 Students
EXECUTIVE SUMMARY
This property offers a major add-value opportunity with 7,950 square feet of vacant space available for immediate lease. It is positioned on a high-visibility, signalized hard-corner with 25,600 vehicles per day and benefits from three convenient access points on a large 1.22 acre lot. The lot features a .21-acre out-parcel for future development. An investor will have the ability to acquire the property well below replacement cost and achieve significant double digits returns upon lease up. The retail center benefits from the close proximity to the Mundelein High School (2,261 students), which is across the street, as well as Carl Sandburg Middle School (533 students), locate a half mile south. It is also near high-performing retail centers that attract millions of annual visitors. The site benefits from proximity to top national tenants such as Jewel-Osco, Planet Fitness, Target, The Home Depot, and ULTA. The trade area is both dense and affluent, with an average household income of $160,472 within five miles and nearly 95,000 residents and employees within three miles.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
9,750 SF
Building Class
B
Year Built/Renovated
1974/2021
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
1.22 AC
Zoning
C2, Mundelein
Parking
54 Spaces (5.54 Spaces per 1,000 SF Leased)
Frontage
109’ on Midlothian
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 10-24-306-002 | Improvements Assessment | $64,829 |
| Land Assessment | $129,656 | Total Assessment | $194,485 |
PROPERTY TAXES
Parcel Number
10-24-306-002
Land Assessment
$129,656
Improvements Assessment
$64,829
Total Assessment
$194,485
CONTACTS
-
Sean Sharko -
Adrian Mendoza -
Austin Weisenbeck -
Ryan Engle -
Andrean Angelov -
Sharko | Weisenbeck | Mendoza Group
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Value-Add Neighborhood Strip Center | 605-625 N Midlothian Rd
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