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Formers Macys Department Store 2 Orland Square Dr
202,788 SF of Retail Space Available in Orland Park, IL 60462
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 202,788 SF | Negotiable | $4.20 /SF/YR $0.35 /SF/MO $851,710 /YR $70,976 /MO | Triple Net (NNN) |
1st Floor
For Sale or lease is a REDEVELOPMENT OPPORTUNITY: As currently configured, this opportunity offers an unparalleled opportunity for an owner/user to acquire over 16 acres which can accommodate multiple redevelopment opportunities. EXCELLENT SALES PERFORMANCE: The Property is located as an anchor space in Orland Square Mall, a super-regional mall that is one of the best performing malls in the State of Illinois and serves as a major retail destination for the entire Chicago Southland Suburban Region. SUPER REGIONAL LOCATION: The site is located in the heart of the dense Orland Park trade area, which is recognized as one of the most highly trafficked, well established and sought-after retail trade areas in the Chicago MSA. The 11 million square foot retail corridor is ranked fifth in the Chicago suburbs with more than $1.95 billion in sales annually (2020)
- Sublease space available from current tenant
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SITE PLAN
PROPERTY FACTS FOR 2 Orland Square Dr , Orland Park, IL 60462
| Property Type | Retail | Total Land Area | 16.29 AC |
| Property Subtype | Retail | Year Built/Renovated | 1977/2024 |
| Gross Leasable Area | 202,788 SF | Parking Ratio | 3.96/1,000 SF |
| Property Type | Retail |
| Property Subtype | Retail |
| Gross Leasable Area | 202,788 SF |
| Total Land Area | 16.29 AC |
| Year Built/Renovated | 1977/2024 |
| Parking Ratio | 3.96/1,000 SF |
Marketing Brochure
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Pita Pit | - | $ | 11 min walk |
| Panda Express | - | - | 11 min walk |
| Texas de Brazil | - | - | 12 min walk |
| Great Steak & Potato Company | - | - | 12 min walk |
| Starbucks | Cafe | $ | 12 min walk |
Retail |
||
|---|---|---|
| JCPenney | Dept Store | 5 min walk |
| Sky Zone | Fitness | 7 min walk |
| Dave & Buster's | Arcade | 8 min walk |
| Finish Line | Shoes | 12 min walk |
| The Children's Place | Children Apparel | 12 min walk |
| H&M | Unisex Apparel | 12 min walk |
| GUESS Factory | Unisex Apparel | 12 min walk |
| Coach | Leather/Luggage/Purses | 12 min walk |
| Victoria's Secret | Ladies' Apparel | 12 min walk |
Leasing Agent
Leasing Agent
Christine Wei, Chief Commercial Officer
About the Owner
Presented by
Formers Macys Department Store | 2 Orland Square Dr
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