Value Add Neighborhood Retail | 90% Occupied 17100 S Dixie Hwy 9,422 SF 90% Leased Retail Building Hazel Crest, IL 60429 $926,500 ($98.33/SF) 9% Cap Rate

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a 9,422 square foot neighborhood retail center located in Hazel
Crest, directly off the I-294 highway. Well-sited at the signalized intersection of Dixie Hwy and 171st St, the property features an above average yield of 9.00% on
the in-place income.
The property has shallow depth bays, ample parking, and benefits from the wellestablished tenants in place. With one vacant unit accounting for 10% of the
square footage, investors can further push their Year 2 CAP rate to 11.13%. Current ownership recently signed another lease for ~2,000SF, establishing clear demand
for space here.
The retail center has been well-maintained by the current owners, who are largely focused on their industrial and office portfolio of over 1,500,000 square feet.
All the tenants operate on Modified Net leases, reimbursing all CAM Expenses, Insurance, partial Management Fees, and their pro rata share of real estate tax
increases over the base year expense.
Located on the edge of a dense neighborhood, the center benefits from solid suburban demographics – over 75,000 people live within three miles of the
property and average household incomes exceed $91,000 annually within the same radius. This retail property further benefits from visibility to 15,000 vehicles
per day on Dixie Hwy.
Listed at an 9.00% CAP rate and Price/SF of $98.33, this is an opportunity to purchase a well-performing asset with a yield that’s difficult to replicate elsewhere.
Please contact Marcus & Millichap with additional questions.