USAILHickory Hills8821 W 87Th St
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8821 W 87 Th St, Hickory Hills, IL

Real Estate

Sold

Listed price in listed location currency (USD).
$3,275,000
$3,700,000

000

MLS® 11659191

  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Commercial Sale
Size -
Garage No
HOA Fees 
Taxes $208,904
Approx. Age 1988
MLS® Number 11659191

Property Address: 8821 W 87th St, Hickory Hills, IL, 60457-1000

Average square foot calculated using Size range provided by listing agent.

Description

We are proud to present the opportunity to acquire a value-add investment property including a 41, 650 square-foot multi-tenant retail center and one undeveloped outlot 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 outlot. Furthermore, new ownership can add value by repositioning the below-market gross leases into NNN market rents. 87th Street Plaza contains 41, 650 square-feet and is situated on approximately 5.42 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 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. Four entrances on two separate roads aid traffic flow and allow tenants to operate smoothly. Cross access with CVS and Shell allows for easy entry for those visitors as well. This asset is being offered at an 8.38% CAP rate with tremendous upside potential through future development and repositioning of the property.
MLS® Number11659191
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1988
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

Jul 31, 2024End Date
$3,275,000Sold Price

Sold

Oct 24, 2022List Date
$3,700,000List Price
  • Commute

Commute

Starting Address
Destination Address
8821 W 87 Th St, Hickory Hills, IL

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