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NORTHEAST QUADRANT OF LAGRANGE ROAD & 159TH STREETORLAND PARK (SUBURBAN CHICAGO), IL
FORMER BABIES ‘R US FOR SALE IN ORLAND PARK, IL15820 94TH AVENUE
in cooperation with
15820 94TH AVENUE
Address: 15820 94th Avenue Orland Park (Suburban Chicago), Illinois
GLA: 37,400 SF
Acreage: 2.55
Traffic Counts: LaGrange Road – 41,400 VPD 159th Street – 39,300 VPD
Shadow Anchor: Target (S&P Rating - A)
Year Built: 1997
INVESTMENT HIGHLIGHTSTEN X in association with Mid-America Real Estate Corporation, presents the opportunity to acquire 15820 94th Avenue located in Orland Park, Illinois.
Please visit the following TEN X site for all relevant due diligence:
www.ten-x.com/1582094thavenue
S U B J E C T O F F E R I N G
Auction will take place November 16 – 18, 2020.
15820 94TH AVENUE
REPOSITIONING OPPORTUNITY – 15820 Avenue provides a blank slate opportunity for a buyer to retenant the 37,400-square-foot space that was formerly occupied by Babies ‘R Us. The subject property is situated on approximately 2.55 acres of land with an abundance of parking making the space a great option for grocery, entertainment, and furniture.
UNPARALLELED REGIONAL RETAIL TRADE AREA – The subject property is positioned along the LaGrange Road retail corridor, a super-regional trade area, home to the “A” mall, Orland Square Mall that generates inline tenant sales in excess of $620 per square foot. The dense corridor consists of 3.75 million square feet, with a wide array of national, category killer retailers such as Ross, Mariano’s, Whole Foods, Costco, Kohl’s, Ulta, Target, Macy’s, Dick’s Sporting Goods, Best Buy, Nordstrom Rack, Walmart Supercenter, Barnes & Noble, Michaels, and Lowe’s.
DOMINANT SHADOW ANCHOR - The subject offering is situated adjacent to a strong performing Target, which provides significant consumer draw. Target is the nation’s 8th largest retailer in the United States, rated “A” by S&P with TTM 2020 revenue in excess of $80 billion. The subject also shares access with traffic-driving national fast casual and full-service restaurants including Five Guys, Potbelly, and Uncle Julio’s.
OUTSTANDING CHICAGO SUBURB – Orland Park is located approximately 25 miles southwest of downtown Chicago and has emerged as the preeminent community in the Chicago metropolitan area’s thriving Southland region. Orland Park, one of Chicago’s largest suburbs, has earned the reputation of a dynamic commercial center that offers a very high quality of life, as is evident through upscale subdivisions and shopping centers, beautiful office complexes, and light industrial parks.
SURROUNDING DEMOGRAPHICS – The area features a dense, upper-middle income demographic profile. The five-mile radius around the center contains a population of 171,114 with average household incomes of more than $118,150.
HIGH TRAFFIC COUNTS – Ideally positioned at the northwest corner of LaGrange Road (41,400 VPD) and 159th Street (39,300 VPD), the subject property benefits from exceptional combined daily traffic counts.
KEY FEATURES
28,470HOUSING UNITS
$276,032MEDIAN HOME VALUE
76,506POPULATION
$118,577AVERAGE HH INCOME
74,404DAYTIME POPULATION
43.8MEDIAN AGE
DEMOGRAPHIC PROFILE WITHIN A3-MILE RADIUS:
15820 94TH AVENUE
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LEASING PLAN
15820 94TH AVENUE
LOCATION & MARKET• 15820 94th Avenue is situated at the northeast quadrant of LaGrange
Road (41,400 VPD) and 159th Street (39,300 VPD) in Orland Park, Orland Township, Cook County, Illinois. Orland Park is located approximately 25 miles southwest of downtown Chicago and has emerged as the pre-eminent community in the Chicago metropolitan area’s thriving Southland region.
• Orland Park continues to attract homebuyers with its close proximity to
downtown Chicago and all its attractions, abundant shopping, nationally acclaimed schools, and numerous amenities, including thousands of acres of lush forest preserves, a 300-seat outdoor amphitheater, and a multi-million-dollar aquatic center.
• The dense residential communities of Orland Park surrounding the subject property, makes its location easily accessible to the 171,200 people who live within a five-mile radius. The subject is also located three and a half miles north of Interstate 80, providing additional regional access.
• The subject offering is prominently located within the LaGrange Road corridor in Orland Park adjacent to strong performing Target and across the street from Lake View Plaza. The LaGrange Road corridor stretches north-south from 143rd to just south of 159th Street. The trade area is one of the healthiest retail markets in Chicago MSA, consisting of approximately 3.75 million square feet of retail that is 93% occupied.
DEMOGRAPHIC PROFILEDistance from Subject: 1 mile 3 miles 5 miles
2019 Population 9,815 76,506 171,1142019 Households 3,947 28,470 64,498
2019 Median Home Value $253,539 $276,032 $280,2732019 Daytime Demographics 12,989 74,404 166,185
2019 Average Household Income $89,979 $118,577 $118,1582019 Median Household Income $76,226 $95,945 $94,7102019 Per Capita Income $36,370 $44,498 $44,3802019 Median Age 40.5 43.8 43.6
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Gary
Aurora Naperville
Oak Park
Oak Brook
Tinley Park
Evanston
Highland Park
Waukegan
SchaumburgDes Plaines
Orland Park
Oak Lawn
Crystal Lake
Arlington Heights
Gary
Elgin
Aurora
Joliet
Naperville
15820 94TH AVENUE
PROPERTY DESCRIPTION• Originally constructed in 1997, 15820 94th Avenue, features 37,400 square feet of retail space and is located on approximately 2.55 acres.
• The property is shadow anchored by a strong performing Target (S&P Rating - A), which provides ideal co-tenancy and drives significant traffic to the development. Additional consumer draw is provided by desirable national co-tenants including Five Guys, Potbelly, and Uncle Julio’s. All co-tenants are separately owned and not part of the subject offering.
• The shopping center benefits from its excellent positioning along LaGrange Road with convenient shared ingress and egress with its Target shadow anchor. Access to the center is provided by a fully signalized intersection at LaGrange Road and 158th Place.
• The site features abundant parking including a shared parking field with Target shadow anchor.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
Joe GirardiPrincipalDirect: [email protected]
The Wrigley Building 410 North Michigan Avenue, Suite 1100 Chicago, Illinois 60611 Direct: 630.954.7300
Emily GadomskiAssociateDirect: [email protected]
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