Courtesy of Brookline Real Estate LLC

8821 W 87th Street

Hickory Hills, IL, 60457

$4,600,000

$116 per ft²
$4,600,000
$116 per ft²
Active
Active
 - For Sale
carpenters-square
39,590 ft²
property_type
Commercial
calendar
Built 1988
We are proud to present the opportunity to acquire a value-add investment property including a 39,590 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 39,590 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.
MLS® ID:
11659191
Listed:
10/23/22
Updated:
2/5/23

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Cooling
Central Individual

Exterior/Building Features

Lot Size
6.26 acres lot

Other Property Details

Area Name
Hickory Hills
Taxes
$240000
Tax Frequency
per YEAR
Garage
No
Parking
300
Parking Total
300.0
View
N
County
Cook
Pool
No
Total Stories
1
Zoning
COMMR
Buyer Agency Compensation
AS A PERCENTAGE OF THE NET SALE PRICE. THE NET SALE PRICE IS THE GROSS SALE PRICE MINUS AMOUNTS TO BE CREDITED OR PAID TO THE BUYER, AS REFLECTED IN THE INITIAL SALES CONTRACT.

 

Courtesy of Brookline Real Estate LLC, Dominick Cannata,
Listing Contact:  

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Data last updated 1:11 AM UTC, 2/5/23

 

 

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