8821 West 87th Street, Hickory Hills, IL

$3,800,000

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About 8821 West 87th Street

We are proud to present the opportunity to acquire a value-add investment property including a 40,850 square foot multi-tenant retail center and three undeveloped outlots positioned in a strong, transit-oriented location in the Chicago suburb of Hickory Hills. This property offers tremendous upside and future NOI growth through the potential for development of the outlots. Furthermore, new ownership can add value by repositioning the below-market gross leases into NNN market rents. 87th Plaza contains 40,850 square feet and is situated on approximately 6.26 acres. At the southwest corner of 87th Street and 88th Avenue just south of I-294, the center benefits greatly from its position next to CVS and Shell Gas Station across from Hickory Hills Police Department. Anchored by recently-renewed variety store chain, Dollar General, the center is fully occupied by many internet-resistant tenants on long-term leases. Differentiated businesses and contrasting rush hours allow for an ideal synergy and mutual benefit across the property. The brick construction building has been beautifully maintained and offers its visitors 242 parking spots in a landscaped and well-kept lot. Three entrances on two separate roads aid traffic flow and allow tenants to operate smoothly. Cross access with CVS and Shell allows for entry for those customers as well. This asset has tremendous upside potential through future development and repositioning of the property.

Features of 8821 West 87th Street

MLS® # 11659191
Price $3,800,000
Bathrooms 0.00
Acres 0.00
Year Built 1988
Type Commercial Sale
Sub-Type Retail/Stores
Status Contingent

Community Information

Address 8821 West 87th Street
Area Hickory Hills
City Hickory Hills
County Cook
State IL
Zip Code 60457

Amenities

Is Waterfront No
Has Pool No

Interior

Cooling Central Individual
Fireplace No
Has Basement No

Additional Information

Days on Market 748
Zoning COMMR
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeBrookline Real Estate LLC

Listing Map

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