Shopping Neighborhood
Pacesetter Plaza
1000 E 162nd St, South Holland, IL 60473
Listing Price: $4,000,000
Investment Overview
Pacesetter Plaza is a 97% occupied, Family Dollar anchored shopping center located in the densely populated Chicagoland suburb of South Holland, IL. The property features a strong mix of national and local tenants operating under net leases with management or administrative fee reimbursement. Pacesetter Plaza is positioned along 162nd Street, which boasts traffic counts of 34,200 vehicles per day. Access to the property is ideal as Interstate 94 is located less than 0.25 miles to the east of the property. Pacesetter Plaza is well-patronized, having 478,500 visitors in the last 12 months (per Placer.ai). Pacesetter Plaza has the potential for further value enhancement through leasing the remaining 1,100 SF of vacant space, scheduled rental increases, and bringing the existing below-market rents to a more suitable market rate.
Pacesetter Plaza
Investment Highlights
- 97% Occupied Retail Center Anchored by Family Dollar | Strong Mix of National and Local Tenants
- Established Tenants with Long Operating Histories | Cunis Candies (Since 2001), Subway (Since 1990), and Family Dollar (Since 2014) Demonstrate Strong Commitment to this Center
- Nine Tenants have Scheduled Rental Increases In-Place.
- Modest, Replaceable Average Rent of $11.85 per Square Foot | Potential for Future Rent Growth
- Embedded Net Operable Income Growth with Multiple Tenants Paying Below Market Rent | Potential to Substantially Increase Base Rent through Re-Leasing Several Spaces
- 0.25 Miles from Interstate-94 which Sees 145,700 Vehicles per Day
- Located in a Retail Thoroughfare | 1.6 Miles from River Oaks West Shopping Center which Attracts 5.6 Million Annual Visitors (Placer.ai)
Listing Price: $4,000,000
Investment Highlights
- 97% Occupied Retail Center Anchored by Family Dollar | Strong Mix of National and Local Tenants
- Established Tenants with Long Operating Histories | Cunis Candies (Since 2001), Subway (Since 1990), and Family Dollar (Since 2014) Demonstrate Strong Commitment to this Center
- Nine Tenants have Scheduled Rental Increases In-Place.
- Modest, Replaceable Average Rent of $11.85 per Square Foot | Potential for Future Rent Growth
- Embedded Net Operable Income Growth with Multiple Tenants Paying Below Market Rent | Potential to Substantially Increase Base Rent through Re-Leasing Several Spaces
- 0.25 Miles from Interstate-94 which Sees 145,700 Vehicles per Day
- Located in a Retail Thoroughfare | 1.6 Miles from River Oaks West Shopping Center which Attracts 5.6 Million Annual Visitors (Placer.ai)
Investment Overview
Pacesetter Plaza is a 97% occupied, Family Dollar anchored shopping center located in the densely populated Chicagoland suburb of South Holland, IL. The property features a strong mix of national and local tenants operating under net leases with management or administrative fee reimbursement. Pacesetter Plaza is positioned along 162nd Street, which boasts traffic counts of 34,200 vehicles per day. Access to the property is ideal as Interstate 94 is located less than 0.25 miles to the east of the property. Pacesetter Plaza is well-patronized, having 478,500 visitors in the last 12 months (per Placer.ai). Pacesetter Plaza has the potential for further value enhancement through leasing the remaining 1,100 SF of vacant space, scheduled rental increases, and bringing the existing below-market rents to a more suitable market rate.
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