Assignment – Schaumburg 2019-04-09T19:14:14+00:00

SCHAUMBURG, IL

SUBURBAN PLAZA

  • PRICE $4,050,000
  • CAP RATE 7.50%
  • NOI $303,654
  • SQUARE FEET 21,964
  • Year Built 1982/2015
  • OCCUPIED 97%
  • ACRES 2
  • SUITES 13
OFFERING MEMORANDUM

INVESTMENT SUMMARY

The Chetek Group of Marcus & Millichap is pleased to present the opportunity to acquire a 100% fee-simple interest in Suburban Plaza, a stabilized 21,964-square foot multi-tenant neighborhood retail center (“The Property”) located in Schaumburg, IL (Chicago MSA). The center is currently 97 percent occupied with a complementary mix of tenants, including Verizon, Taco Maya Restaurant, LA Tan, Dental Heights Dentistry, Lollywood Glam Salon, Sushiya, McCullough’s Pub, and Dog Training Now among others. The diverse, service oriented tenant lineup boasts strong historical occupancies and staggered lease expirations. All current leases are triple-net and feature annual rent increases.

The Property is being offered free and clear of debt at a 7.5% cap rate totaling $4,048,717.

The subject property is located in a dense retail trade area in an affluent northwest suburb of Chicago. The densely populated area has more than 250,000 residents within five miles and average household incomes exceeding $93,000 annually. The property features ample frontage on busy S Roselle Rd, the areas main thoroughfare with approximately 34,000 vehicles per day and multiple ingress and egress points

LISTING HIGHLIGHTS

21,964 gross square-foot multi-tenant neighborhood shopping center.

97% Occupied – Well-maintained shopping center with recent capital improvements.

Located in affluent northwest Chicago suburb on S Roselle Rd – 34,000 VPD.

Dense in-fill location with high barriers to entry.

Dense population of 250,000 people within 5 miles and 900,000 people within 10 miles.

Diverse, service oriented tenant lineup with strong historical occupancies and staggered lease expirations.

OFFERING MEMORANDUM