2352 172nd St | Lansing, IL 60438
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2352 172nd St
Lansing, IL 60438
Lansing Commons · Retail Property For Sale
Investment Highlights
- The center features two dual-sided pylon signs providing exposure to over 25,000 VPD.
- ±105,000 people live within 3 miles, 250,000 within 5 miles, and 800,000 within 10 miles, with average household incomes exceeding $75,000.
- 100 parking spaces on-site, and benefits from neighboring national retailers.
Executive Summary
±23,000 SF ten-unit retail center located in Lansing, IL (Chicago MSA). ±93% occupied by a mix of longstanding national and local tenants
In-Place NOI: ±$315,000. Lansing Commons has seen strong leasing activity, with both new leases and extensions signed this year and last.
In-Place NOI: ±$315,000. Lansing Commons has seen strong leasing activity, with both new leases and extensions signed this year and last.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
23,552 SF
Building Class
B
Year Built
1990
Price
£2,943,054
Price Per SF
£125
Net Initial Yield
8.51%
NOI
£250,557
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.21
Lot Size
2.57 AC
Zoning
Commercial
Parking
100 Spaces (4.25 Spaces per 1,000 SF Leased)
Frontage
357 ft on Torrance Avenue
Amenities
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £52,850 | |
| Land Assessment | £41,305 | Total Assessment | £94,155 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£41,305
Improvements Assessment
£52,850
Total Assessment
£94,155
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