16703 Harlem Avenue

    Tinley Park, IL 60477
    • $1,475,000
    • STATUS: Active
    • ON SITE: 121 days
    • MLS #: 10383025
    UPDATED: 72 min ago
    $1,475,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 9,865
      SQFT
    • $150
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    2008
    County:
    Area:

    School Ratings & Info

    Description

    Presenting the opportunity to acquire a multi-tenant retail center positioned in a strong transit oriented location in the Chicago suburb of Tinley Park. This asset is being offered at a 10.34% Proforma CAP rate. Marketplace at Tinley Park contains 9,865 square feet and is situated on approximately 1.90 acres. Near the southeast corner of Harlem Avenue and 167th Street, the center benefits greatly from its position next door to CVS, among dozens of other national retailers on the active corner Harlem and 159th Street. This is a value-add opportunity with significant upside potential by leasing the current vacancies (3,924 SF, 40%) at market rents. The existing three tenants have all recently been renewed or extended, adding stability to the asset while efforts are targeted toward leasing the two remaining spaces. The center also has owner-user potential where a business owner can occupy an end-cap location while collecting rent from the other lo

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    © 2019 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Mattz Mega Group | Keller Williams Preferred Realty. Based on information submitted to the MRED as of 2019-09-15T18:50:05.183 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    www.themattzgroup.com/homes/94910719

    16703 Harlem Avenue Tinley Park, IL 60477

    • Price: $1,475,000
    • Status: Active
    • Updated: 72 min ago
    • MLS #: 10383025
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    9,865
    SQFT
    $150
    $/SQFT
    2008
    Built
    Neighborhood:
    Tinley Park
    County:
    Cook
    Area:
    Tinley Park
    Property Description
    Presenting the opportunity to acquire a multi-tenant retail center positioned in a strong transit oriented location in the Chicago suburb of Tinley Park. This asset is being offered at a 10.34% Proforma CAP rate. Marketplace at Tinley Park contains 9,865 square feet and is situated on approximately 1.90 acres. Near the southeast corner of Harlem Avenue and 167th Street, the center benefits greatly from its position next door to CVS, among dozens of other national retailers on the active corner Harlem and 159th Street. This is a value-add opportunity with significant upside potential by leasing the current vacancies (3,924 SF, 40%) at market rents. The existing three tenants have all recently been renewed or extended, adding stability to the asset while efforts are targeted toward leasing the two remaining spaces. The center also has owner-user potential where a business owner can occupy an end-cap location while collecting rent from the other lo
    Exterior Features

    Construction Concrete Block Lot Dimensions 278 X 556 Lot Sq Ft 82764 Number Of Parking Spaces 70 Number Of TLDocks 0

    Interior Features

    Air Conditioning Central Air Fire Protection Sprinklers-Wet Number Of Drive In Doors 0 Number Of Stories 1

    Property Features

    Electrical Service Separate Meters Estimated Cam SF 3.04 Expense Year 2018 Exterior Building Type Brick Gross Rentable Area 9865 Gross Rental Income Amount 0 Heat Ventilation Forced Air Investment YN Yes Lease Type Net Max Avail Sq Ft Rentable 3924 Min Avail Sq Ft Rentable 1924 Net Oper Income Amount 40313 Net Operating Income Year 2019 Property Offered For Sale Only Tax Year 2018 Taxes 94863 Tenant Pays Common Area MaintenanceReal Property TaxesInsurance Total Annual Exp 136665 Total Annual Income 0 Township Orland Zoning Type Commr

    Listing information © 2019 Midwest Real Estate Data LLC.
    Listing provided courtesy of Brookline Real Estate Llc.


    © 2019 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or The Mattz Mega Group | Keller Williams Preferred Realty. Based on information submitted to the MRED as of 2019-09-15T18:50:05.183 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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