$3,000,000
$3,439,000
12.8%For more information regarding the value of a property, please contact us for a free consultation.
26,331 SqFt
SOLD DATE : 08/10/2021
Key Details
Sold Price $3,000,000
Property Type Commercial
Sub Type Retail/Stores
Listing Status Sold
Purchase Type For Sale
Square Footage 26,331 sqft
Price per Sqft $113
MLS Listing ID 10552230
Sold Date 08/10/21
Year Built 1980
Annual Tax Amount $186,020
Tax Year 2018
Lot Dimensions 125 X 931
Property Sub-Type Retail/Stores
Property Description
Brookline Real Estate, LLC. is proud to present the opportunity to acquire a multi-tenant retail center positioned in a strong transit oriented location in the Chicago suburb of Oak Lawn. This asset is being offered at a 8.50% CAP rate with tremendous cash flow and continued growth. Central Plaza contains 26,331 square feet and is situated on approximately 2.67 acres. At the southeast corner of Central Avenue and 103rd Street, the center benefits greatly from its position next to Richards High School just blocks from the 95th Street Retail Corridor. The existing tenants at the center have all recently been renewed or extended, adding stability to the asset. The majority of tenants escalate on yearly basis creating additional equity and better future returns. The building is well-maintained including several recent upgrades and replacements. The center also provides a future development opportunity on the south end of its 2.67 acre lot. The pad sits directly on the corner of Central Avenue and 105th Street and would come with an abundance of parking given the current center's oversized parking lot.
Location
State IL
County Cook
Area Oak Lawn
Zoning COMMR
Interior
Cooling Central Individual
Fireplace N
Building
Level or Stories 1
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Bought with Dominick Cannata • Brookline Real Estate LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "