USAILSouth Holland645-629-645 E 162Nd St
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New
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$900,000

For Sale

3 days ago

645 - 629-645 E 162 Nd St, South Holland, IL

MLS® 12746756

0 Bed

0 Bath

6250 sqft

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  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Commercial Sale
Size 6250 sqft
Garage No
HOA Fees 
Taxes $62,549
Days Active 2
Approx. Age 2008
Avg. Price Per Sqft $144
MLS® Number 12746756

Property Address: 645-629-645 E 162nd St, South Holland, IL, 60473-2329

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

Description

South Holland Retail Strip building, located on well-traveled thoroughfare with good visibility. The building consists of four units with a total area of 6250 sqft. Construction is all masonry, built in 2008, with layout typical of in-line retail strip centers. Each unit is accessible from the street-facing side, with employee-only entrance/exit door on the rear side of the building. Unit 645, Seafood Junction, with a 1200 sqft area, on a Modified Gross terms has a projected yearly rent of $34, 067/$28.18 per sqft. Unit 641, Flavor Addicts, with a 1200 sqft area, on a Modified Gross terms has a projected yearly rent of $36, 000/$30.00 per sqft. Unit 637, is vacant. The projected rent as stabilized, should follow that of unit 641, with favorable terms. Units 629-633, combined units, with Serenity Home Health, is leased at $34, 161/$21.03 sqft on Triple Net lease terms. Fully stabilized projected income is at $140, 227, with expense reimbursements at $38, 700, giving gross potential at $178, 927. Effect gross income is at $173, 560. Projected expenses at 101, 351. NOI is calculated at $72, 208 with vacancy and collection loss at 3.00%, which is consistent with market expectations. Current as is capitalization rate applied is 8%. Building is in good condition. Overall lot area is 18, 393 sqft, with an asphalt paved parking area with 30 spaces.
MLS® Number12746756
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age2008
Stories
Pets

Included in Maintenance Fee

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

Utilities

Heat
A/CCentral Air

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Aug 31, 2026List Date
$900,000List Price
  • Commute

Commute

Starting Address
Destination Address
629-645 E 162 Nd St, South Holland, IL

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