Lincoln Crossing | National Tenant Roster | 1333 Western Ave
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Lincoln Crossing | National Tenant Roster 1333 Western Ave
19,359 SF 81% Leased Retail Building Online Auction Sale Chicago Heights, IL 60411
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Investment Highlights
- Beneficially positioned 19,359-SF retail strip center with ample surface parking shadow anchored by Food 4 Less (Kroger) in Chicago Heights, IL.
- Ultimate value-add investment opportunity with nationally renowned tenants, including Boost Mobile, Subway, and Rainbow, with lease-up upside.
- Prominently situated with easy access over a 2.3-acre lot with exceptional frontage paired with pylon and building signage in front of to 25,303 VPD.
- Excellently located within the Lincoln Crossing shopping center about 30 miles south of Downtown Chicago surrounded by ideal demographics.
Executive Summary
1333 Western Avenue, also known as Lincoln Crossing, is a 19,359-square-foot shopping center space on a 2.3-acre lot. Shadow anchored by Food 4 Less (Kroger), Lincoln Crossing consists of one parcel, including well-known brands such as Subway, Boost Mobile, and Rainbow, accompanied by approximately six additional retail tenant suites.
Lincoln Crossing is excellently situated about 30 miles south of Chicago's Central Business District. The property is bounded by Lincoln Highway and Western Avenue to the south and west and commercial and residential development to the north and east. Lincoln Highway/14th Street is heavily trafficked, featuring 25,303 cars per day, with intersecting Western Avenue seeing 14,650 vehicles per day. Lincoln Crossing has three entrances along Lincoln Highway and two along Western Avenue for seamless ingress and egress in either direction.
Major thoroughfare Interstate 57 is located less than 4 miles west of the property, connecting with Interstate 90 to provide easy access to Downtown Chicago. Several nationally renowned retailers drawing more demand to the area include Walmart, Dollar Tree, Family Dollar, Aldi, CVS, Walgreens, McDonald's, Wendy's, AutoZone, and White Castle as an outparcel alongside Lincoln Crossing shopping center.
Ideally, within a 5-mile radius of 1333 Western Avenue, there are 177,201 residents, who have an average household income of $82,886. This allows them to have a generous spending power of well over $1.86 billion annually. The top spending categories in this area include food at and away from home, transportation and maintenance, and household expenses totaling about $1.3 billion annually.
Property tours are available by appointment only. Please contact the broker to schedule.
Lincoln Crossing is excellently situated about 30 miles south of Chicago's Central Business District. The property is bounded by Lincoln Highway and Western Avenue to the south and west and commercial and residential development to the north and east. Lincoln Highway/14th Street is heavily trafficked, featuring 25,303 cars per day, with intersecting Western Avenue seeing 14,650 vehicles per day. Lincoln Crossing has three entrances along Lincoln Highway and two along Western Avenue for seamless ingress and egress in either direction.
Major thoroughfare Interstate 57 is located less than 4 miles west of the property, connecting with Interstate 90 to provide easy access to Downtown Chicago. Several nationally renowned retailers drawing more demand to the area include Walmart, Dollar Tree, Family Dollar, Aldi, CVS, Walgreens, McDonald's, Wendy's, AutoZone, and White Castle as an outparcel alongside Lincoln Crossing shopping center.
Ideally, within a 5-mile radius of 1333 Western Avenue, there are 177,201 residents, who have an average household income of $82,886. This allows them to have a generous spending power of well over $1.86 billion annually. The top spending categories in this area include food at and away from home, transportation and maintenance, and household expenses totaling about $1.3 billion annually.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
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Market Sale Price per SF
Chicago - IL USA
Market Cap Rate
Chicago - IL USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Storefront
Building Size
19,359 SF
Building Class
B
Year Built
1998
Percent Leased
81%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.19
Lot Size
2.30 AC
Opportunity Zone
Yes
Zoning
B-2 - Limited Service Business District
Parking
30 Spaces (1.55 Spaces per 1,000 SF Leased)
Frontage
317 ft on West 14th Street
Amenities
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 635
- 1,012 SF
- Restaurant
- In-Line
- Now
- 649
- 1,104 SF
- Retail
- End Cap
- Now
| Space | Size | Space Use | Position | Available |
| 635 | 1,012 SF | Restaurant | In-Line | Now |
| 649 | 1,104 SF | Retail | End Cap | Now |
635
| Size |
| 1,012 SF |
| Space Use |
| Restaurant |
| Position |
| In-Line |
| Available |
| Now |
649
| Size |
| 1,104 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
About Far South
The South Chicago retail area is bifurcated with forest preserves and bucolic vistas to the south and a bustling suburban enclave to the north. Interstates 57 and 80/94 meet in the northwest corner and go their respective southern and eastern ways from there. Yet the real draw for retail here is the extension of Western Avenue, the city of Chicago’s longest street, spanning over 27 miles from Evanston, Illinois, to Crete, Illinois. Students (and staff) are drawn to the Prairie State Junior College (500 employees), Chicago Heights, to start their educational journeys and then can commute south to Governor’s State University (1,000 employees), University Park, to finish their undergraduate studies.
Employment sectors run the gamut in South Chicago, but manufacturers and distributors appear to dominate the landscape. University Park’s large manufacturers require a substantial workforce to run their facilities and warehouses, like paper manufacturer Georgia Pacific (6,700 employees), jellies and spreads manufacturer JM Smuckers (5,500 employees), and Solo Cup manufacturer Dart Container (3,500 employees). Logistics companies are drawn here not only for the highways but for easy access to the Illinois Central Railroad Company’s (500 employees) intermodal terminal at the region’s northern border in Homewood.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
11,815
88,611
177,201
2020 Population
11,066
83,719
171,981
2029 Population
11,641
87,261
173,921
2024-2029 Projected Population Growth
-1.5%
-1.5%
-1.9%
Daytime Employees
3,489
27,740
61,328
Total Businesses
401
3,566
7,367
Average Household Income
$77,676
$77,510
$82,886
Median Household Income
$63,811
$61,317
$66,627
Total Consumer Spending
$112.2M
$888M
$1.9B
Median Age
38.9
39.9
40.5
2024 Households
3,980
32,831
65,506
Percent College Degree or Above
12%
14%
16%
Average Home Value
$176,838
$181,417
$188,378
$ values in USD
Nearby Major Retailers
Pepe's Mexican Restaurants
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $586,266 CAD | |
| Land Assessment | $357,292 CAD | Total Assessment | $943,558 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$357,292 CAD
Improvements Assessment
$586,266 CAD
Total Assessment
$943,558 CAD
Sale Advisor
Sale Advisor
Adam Foret, Vice President
(630) 368-8609
Contact
Adam Foret is a Vice President with the National Retail Partners – Midwest. The NRP—Midwest is recognized as CBRE's leading national retail investment team, representing a diverse set of clients ranging from REITs and pension fund advisors to private investors and developers. The NRP-Midwest team has completed over 1,045 transactions totaling in excess of $15.4 billion.
Mr. Foret joined the team after serving as the Senior Leasing Associate for Regency Centers and leasing a portfolio of over 2.6 million square feet throughout the Chicagoland area and Minneapolis.
Prior to joining Regency Centers, Adam was a Senior Associate with CBRE and completed lease transactions with national, regional and local tenants.
Adam is an active member of ICSC and serves on the Next Generation National Leadership Board and as State Chair for Illinois.
Mr. Foret joined the team after serving as the Senior Leasing Associate for Regency Centers and leasing a portfolio of over 2.6 million square feet throughout the Chicagoland area and Minneapolis.
Prior to joining Regency Centers, Adam was a Senior Associate with CBRE and completed lease transactions with national, regional and local tenants.
Adam is an active member of ICSC and serves on the Next Generation National Leadership Board and as State Chair for Illinois.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Molly Patten
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Lincoln Crossing | National Tenant Roster | 1333 Western Ave
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