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39W201 Herrington Blvd
6,949 SF of Retail Space Available in Geneva, IL 60134
Highlights
- Brand-new ±36,000-square-foot building now available.
- Desirable ground floor retail space situated below 16 luxury apartments.
- Located in the heart of the desirable Mill Creek development, surrounded by six apartment buildings and 2,900 residential homes.
- The average household income within a 1-mile radius exceeds $184,000.
Space Availability (1)
Display Rent as
- Space
- Size
- Term
- Rent
- Service Type
| Space | Size | Term | Rent | Service Type | ||
| 1st Floor | 6,949 SF | Negotiable | £14.08 /SF/PA £1.17 /SF/MO £151.60 /m²/PA £12.63 /m²/MO £97,870 /PA £8,156 /MO | Triple Net |
1st Floor
- Lease rate does not include utilities, property expenses or building services
- Located in-line with other retail
- Space is in Excellent Condition
- 16 Luxury Apartments will Occupy Floors 2 & 3
- Estimated Occupancy for Commercial Space 9/1/2022
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 agent 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.
PROPERTY FACTS FOR 39W201 Herrington Blvd , Geneva, IL 60134
| Property Type | Retail | Year Built | 2006 |
| Property Subtype | Storefront Retail/Residential | Parking Ratio | 2.5/1,000 SF |
| Gross Internal Area | 42,450 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Residential |
| Gross Internal Area | 42,450 SF |
| Year Built | 2006 |
| Parking Ratio | 2.5/1,000 SF |
About the Property
39W201 Herrington Boulevard offers brand-new retail space in a mixed-use project at the heart of Geneva’s popular Mill Creek development. This ±36,000-square-foot, three-story building features ground-floor commercial space and 16 luxury apartments between the second and third floors. Besides the built-in consumer base, 39W201 Herrington Boulevard is surrounded by six (6) apartment buildings and over 2,900 residential homes in the affluent Mill Creek area. Within a one-mile radius, the average household income exceeds $184,000 – presenting tenants in the building with ample opportunity for success. The building also sits across from the Mill Creek Village Center, home to the Mill Creek Market, which presents an excellent opportunity to bolster this quaint commercial stretch further. The city of Geneva is an ideal environment for retailers in general, sitting just 40 miles west of Chicago with strong demographics and a discount relative to properties in nearby Cook County. Reach out today to learn more about joining this vibrant community.
Marketing Brochure
DEMOGRAPHICS
Demographics
About Western East/West Corridor
Conveniently located near the intersection of four major expressways, the Western Suburbs of Chicago contain some of the strongest buying power in the Chicago region, supported by high incomes, significant day time working populations, and desirability of its residential neighborhoods. The area’s skilled labor force supports numerous significant regional shopping centers and retail corridors throughout the area, which are well connected via the area’s web of highways.
Multiple regional retail centers and malls, including Oakbrook Center, Yorktown Center, and Oak Brook Promenade, provide workers with a multitude of shopping options and nearby dining options, including Shake Shack, The Cheesecake Factory, Beatrix, Roka Akor, The Capital Grille, Gibson’s, Ditka’s, and Michael Jordan’s Restaurant.
Given its locational and demographic strengths, the area continues to attract a diverse mix of local and national retailers such as The Home Depot, Apple, Target, Costco, REI, Nordstrom, Woodman’s, and Restoration Hardware. Additionally, given its affluence and accessibility, the Western Suburbs support auto dealerships Volvo, Lexus, and Infinite.
Retail demand trends in the Western Suburbs have consistently outpaced the Chicago-area retail market overall, while the area still maintains a discount in occupancy costs for retail tenants relative to similar properties in nearby Cook County. The ability to access a dense and affluent population with above-average disposable incomes at a relative discount in cost should continue to make the Western Suburbs a target for retail tenants of all types.
-
Dan Meisinger -
ShoDeen Group, LLC
Presented by
39W201 Herrington Blvd
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