$5,850,000 SALE
Retail
54,858 SF
3400-3498 W. Vollmer Road
Olympia Fields, IL 60461 Olympia Square Shopping Center I 8% Cap I 86% Occupancy



Coldwell Banker Commercial is pleased to present Olympia Square Shopping Center, a regional shopping center located in Olympia Fields. The property is currently over 86% occupied by a diverse mix of tenants that include restaurants, medical, health club facility grocery store, specialized service providers, as well as specialty retail stores. Olympia Fields Shopping Center containS 54,858 square feet of lea-sable retail space, consisting of two buildings free standing buildings one being a strip mall. Twelve unit strip mall with two buildings on a single pin lot at the intersection of Vollmer Rd and Governor Hwy consisting of various businesses from restaurants, retail, medical and fitness center. With over 257 asphalt parking spaces and well maintained landscaping surrounding the property. The trip plaza is a 9 unit-single story brick building with a covered walkway and the second building is a 3 unit two story brick elevator building with a covered walkway. Being only 5 Min or 2 miles from the major expressway Hwy 57.


Property Type Retail
Property Use Rental or Investment
Year Built 1985
Renovated Year 1992
Level Number 1
Lot Dimensions 244807.2 SF
Sub-Lease 12
Zoning B-2
Tax Year 2019
Cap Rate Percentage 8.15
Listing ID VN9FG8
Style Retail Bldg -Neighborhood Ctr
Building Size 54,858 SF
Lot Size 5.62 AC
Available Date Jul 13th, 2020
Taxes $348,616

Property Highlights

Anchored by Charter Fitness & Chiro One Wellness Center Currently Over 86% Occupied With An Excellent Unit Mix Lighted Corner Location I High Visibility With A Traffic Count Of 58,500 Vehicles Per Day Three Access Points, Including Full Lighted Access at the Southern End Of The Property Less Than A Quarter Mile From New Assisted Living Development I 126 Units Average Household Income Of $160,785 Within One-Mile

Area Description

Area Description: Olympia Fields is centrally located 27 miles from downtown Chicago, via Interstate 94 and Interstate 57. Interstate 80 is approximately three miles from the village's northern border and runs east and west all the way across the nation from New York to California. The village is approximately a 45-minute drive from Chicago's two major airports. Metra trains provide quick, convenient and safe transportation to downtown Chicago's thriving business district as well as a host of world class universities and colleges, from two stations, one on the north and south side of town. The village express trains reach Randolph Street Station on Michigan Avenue in 40 minutes; 55 minutes with local stops. PACE buses provide local transportation. Parking at the Metra train station is convenient. Commuter parking is readily accessible and convenient for residents and neighboring communities at our two Metra facilities. In addition to the existing 274 spaces at the 211th Street Metra Commuter Parking Lot Facility, the village has partnered with Metra and has built a state-of-the-art commuter parking facility, located at 203rd Street and Kedzie Avenue, which has 529 well lit spaces available for daily rates.

Region: Olympia Fields

Region: Olympia Fields

Region: Central United States

Region: Central

Region: Illinois

Property Features
Anchor Name: Charter Fitness & Chiro One
Parking Ratio: 4.86
Parking Places: 257
Location Name: 3400-3498 W. Vollmer Road
Age: 31-40 Years Old
Cooling: Central A/C
Lot Size: 5-10 Acres
Sewer: City
Water: City Water
Financials
Down Payment: $1,755,000
Gross Income: $1,106,705
Expenses: $475,752
Loan Payment: $4,095,000
Fully Leased Income: $1,106,705
Cash Flow: $210,607
Additional Media Available Space
Available
Expired
Not Available

Suite: Unit 3406

Unit Area
1,718 Square Feet
Rate
$17.46 SF/Month
Available
Expired
Not Available

Suite: Unit 3410

Unit Area
6,000 Square Feet
Rate
$17.60 SF/Month
Area Demographics

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