Active

8821 W 87th Street

Hickory Hills IL, 60457

$3,800,000


$95.98 per sqft

Active

39,590 sqft

Commercial

Built in 1988

Courtesy of Brookline Real Estate LLC

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.

11659191

MLS ID

October 24, 2022

Listed

May 9, 2024

Updated

Map

8821 W 87th Street
Hickory Hills IL, 60457

Interior Features

Total Stories

1


Fireplace

No


Cooling

Yes


Cooling Description

Central Individual


Heating

No

Exterior/Building Features

Lot Size

6.26 Acres

Other Property Details

Area Name

Hickory Hills


Taxes

$240,000


Tax Frequency

Annually


Days on Market

481


Garage

No


View

No


County

Cook


Municipality

Palos


Pool

No


Zoning

COMMR

Listing History

Date

Event

Price

1/19/2024

Price Change

$3,800,000

-18%

Courtesy of Brookline Real Estate LLC, Dominick Cannata,
Listing Contact: 630-590-5910 

The data relating to real estate for sale on this website comes in part from the Broker ReciprocitySM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Casselyn Tertell Team are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the  MLS GRID for MRED 5/9/2024. All data is obtained from various sources and has not been, and will not be, verified by broker, MRED or MLS GRID. MLS Grid and MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers’ personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.

©2024 Listings Courtesy of MRED as distributed by MLS GRID. All rights reserved.

Data last updated 6:47 AM UTC, 5/9/2024

 

 

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