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
August 23, 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
664
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
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Data last updated 6:52 PM UTC, 8/23/2024