3102-3124 W North Ave | Stone Park, IL 60165
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3102-3124 W North Ave
Stone Park, IL 60165
Stone Park Corners · Retail Property For Sale
Investment Highlights
- Occupied Neighborhood Retail Center w/ Outstanding Diversified Tenant Mix
- Outstanding Daytime Traffic in Robust Melrose Park Industrial Submarket
- Shopping Center Net Leases w/ Staggered Expiration Dates
- Ideal Bay Sizes in an Extremely Tight Retail Market
- Bridge Point Melrose Park I & II
- Excellent Visibility & Accessibility
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee-simple interest in Stone Park Corners, an unanchored neighborhood retail shopping center located in Stone Park (Chicago), IL (“The Property”). The Property consists of a 20,254 square foot multi-tenant retail building on a 1.67-acre parcel of land. The Property was built in 2010 and is 100% occupied by an outstanding diverse tenant lineup all operating under shopping center net leases whereby tenants reimburse landlord for all common area maintenance, real estate taxes, and insurance. See Appendix for more detail.
The Property is strategically located two (2) miles east of the Interstate 290/294 interchange along the heavily trafficked and primary east/west thoroughfare W North Avenue (±51,527 VPD) at the signalized intersection of W North Avenue & Indiana Boundary Rd. The Property benefits from excellent visibility with multiple access points. Additionally, the Property sits seven (7) miles south of Chicago O’Hare International Airport.
The Property is strategically located two (2) miles east of the Interstate 290/294 interchange along the heavily trafficked and primary east/west thoroughfare W North Avenue (±51,527 VPD) at the signalized intersection of W North Avenue & Indiana Boundary Rd. The Property benefits from excellent visibility with multiple access points. Additionally, the Property sits seven (7) miles south of Chicago O’Hare International Airport.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
20,254 SF
Building Class
B
Year Built
2010
Price
£4,809,714
Price Per SF
£237
Net Initial Yield
7.75%
NOI
£372,835
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.49
Lot Size
0.94 AC
Zoning
Commercial
Parking
67 Spaces (3.31 Spaces per 1,000 SF Leased)
Frontage
246 ft on North Ave
Amenities
- Bus Route
- Signage
PROPERTY TAXES
| Parcel Number | 15-04-201-040-0000 | Improvements Assessment | £162,316 |
| Land Assessment | £203,127 | Total Assessment | £365,443 |
PROPERTY TAXES
Parcel Number
15-04-201-040-0000
Land Assessment
£203,127
Improvements Assessment
£162,316
Total Assessment
£365,443
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