3215 E Lincolnway | Sterling, IL 61081
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3215 E Lincolnway
Sterling, IL 61081
Value Add Neighborhood Retail Center · Retail Property For Sale
Investment Highlights
- 3215 E Lincolnway presents the opportunity to acquire a high-occupancy neighborhood shopping center surrounded by shadow anchors.
- Thriving retail center with value-add upside alongside a hedge against inflation with built-in lease escalations.
- Offers remarkable leasing momentum with three new leases signed and two existing tenants signing extensions within the last 12 months.
- Located at a signalized intersection of Route 2 and River Road with traffic counts of over 27,000 vehicles per day
- Since acquiring the property, ownership has injected a significant amount of capital including a new roof with a transferable 20-year warranty.
- Presents significant upside with the ability to sharply increase operational income by leasing the last two remaining vacancies.
PROPERTY FACTS
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Freestanding
Building Size
40,880 SF
Building Class
C
Year Built/Renovated
1993/2024
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
3.17 AC
Zoning
C - Commercial
Parking
129 Spaces (3.16 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 1114402020 | Improvements Assessment | $428,370 |
| Land Assessment | $73,768 | Total Assessment | $502,138 |
PROPERTY TAXES
Parcel Number
1114402020
Land Assessment
$73,768
Improvements Assessment
$428,370
Total Assessment
$502,138
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