Lincolnshire Commons_Property for Sale
Lincolnshire Commons_Property for Sale
970 Milwaukee Ave, Lincolnshire, IL, 60069, US

Lincolnshire Commons

Asset Description

Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”) has been retained on an exclusive basis to offer qualified investors the opportunity to acquire Lincolnshire Commons – a value-add, medical anchored asset in a high barrier to entry location within the Chicago MSA. This Property is anchored by the Aa3 Investment Grade NorthShore University HealthSystem and supported by dominant regional and national restaurant and soft goods users. Lincolnshire Commons is a unique opportunity to acquire a value-add center while also providing investors with exit flexibility due to it's 9 freestanding buildings including 5 single tenant buildings and 4 unanchored strip components.

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Attributes

Building area gross
12,358 m²
Year built
2006
Occupancy
76.5%
Number of buildings
9
WAULT
4.8 years
NOI
€3,080,000

Media

Investment Highlights

Dominant NorthShore University HealthSystem Anchored Offering

  • Endeavor Health - Aa3 Investment Grade Tenancy


Value-Add Potential through Vacant Lease-Up

  • 78% occupied with 29,558 SF of vacancy across 6 suites ranging from 1k-14k SF


9 Separate Buildings Provide Exit Flexibility

  • Includes 5 single tenant outparcels and 4 unanchored strips


Lake County Location

  • Tenants benefit from lower tax liabilities compared to other counties within the Chicago MSA


Dense Surrounding Demographics

  • 69,481 Households within a 5-mile radius
  • Average Household Income: $140,824
  • Buying Power: $9.8bny


5.3 Year WALT boosted by Recent Leasing Velocity

  • 16k SF (12% of GLA) across 6 new leases executed in the last 24 months


High-Performing Restaurants

  • Weighted average sales of $616/SF


90% of Income Leased to National Tenancy


36% Leased to Leased to Investment Grade Tenancy

Lincolnshire Commons 4_Property for Sale
Lincolnshire Commons 4_Property for Sale

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Lincolnshire Commons (0 Properties)

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Last updated
5 Jun 2024