Melrose Park Strip Center in Melrose Park, IL
- Auction Registration & Info
- Showing Request
- Private message
Minimum Bid/Published Reserve Price: $999,000
Buyer’s Premium: 6%
Cooperating Broker’s Commission: 2% of Bid Price/Offer Price (before Buyer’s Premium is added)
Lot Size: Approx. .4616 Acres
Building Size: Approx. 6,950 SF
Parking Ratio: 5.34/1,000 SF
2019 Taxes: $44,538.16
PIN #: 12-29-311-021-0000
Zoning: C-4; General Commercial District
Traffic Count: 29,600 VPD
Cap Rate: 9.5%
This well located strip center with six (6) retail units is in a high traffic location and has an attractive NOI of $95,000. This property has long term tenants and a stable rental history. Even during COVID-19, all tenant rents have been current. Four (4) of the six (6) tenants have recently renewed their leases. Lease expirations range from 2022-2028. Two (2) of the tenants have gaming licenses, which provides added value for stability. This property also features a new parking lot (2019). All roof and mechanicals have been routinely maintained and/or updated in the last five (5) years.
Melrose Park is located approximately 15 miles northwest of downtown Chicago. The property is accessible via I-294 at the West Lake Street Exit, 2.6 miles south of the subject property. O’ Hare International Airport is located just 10 minutes from the property.
ABSOLUTELY NO SOLICITATION OF THE TENANTS; ALL PROPERTY INQUIRES MUST BE PRESENTED TO AUCTIONWORKS
To review the documents for this property, please follow these 3 simple steps:
- Register on our website or log in with your existing account.
- Go to the Documents tab, click a document that you wish to review, and accept the confidentiality agreement terms by entering your password.
- You may now download the document.
Total Bids Placed:
Auction has expiredAuction Expired because there were no bids
Location: 109-119 W. Grand Avenue, Melrose Park, IL, 60164
How to Submit Pre-Auction Bid
Click on the Pre-Auction Offer Form button on the property page and submit your bid with proof of funds.
How to Register & Bid Online
Register: If you do not have an account on this website, click the “Sign-Up” button above and complete the brief registration form. We will then send you an email with a verification link that you must click in order to create a new account.
Important: You must be pre-approved to bid online. Follow these instructions to get approved to bid online:
BID APPROVAL PROCESS:
Review all information and due dilligence documents posted on the property listing on our website.
Read the Terms and Conditions and Purchase and Sale Agreement posted on the property listing on our website.
Wire or overnight the certified funds required to bid on the property (for amount required see Terms and Conditions).
Click the “Register to Bid” button.
You will receive an email notifying you that you have been approved to bid on the property.
If you have any questions, contact us. We would be happy to assist you.
For wiring instructions email: firstname.lastname@example.org or call 847-509-2757.
There is a 6% Buyer's Premium in effect for this auction.
You must be logged in to request a showing for this property.