5
See all 5 photos
$3,700,000
Est. payment /mo
41,650 SqFt
Active Under Contract
8821 W 87th ST Hickory Hills, IL 60457
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 41,650 sqft
Price per Sqft $88
MLS Listing ID 11659191
Year Built 1988
Annual Tax Amount $208,904
Tax Year 2022
Lot Dimensions 0X0
Property Sub-Type Retail/Stores
Property Description
We are proud to present the opportunity to acquire a value-add investment property including a 41,650 square-foot multi-tenant retail center and one undeveloped outlot positioned in a strong, transit-oriented location in the Chicago suburb of Hickory Hills. This property offers tremendous upside and future NOI growth through the potential for development of the outlot. Furthermore, new ownership can add value by repositioning the below-market gross leases into NNN market rents. 87th Street Plaza contains 41,650 square-feet and is situated on approximately 5.42 acres. At the southwest corner of 87th Street and 88th Avenue just south of I-294, the center benefits greatly from its position next to CVS and Shell Gas Station across from Hickory Hills Police Department. Anchored by recently-renewed variety store chain, Dollar General, the center is occupied by many internet-resistant tenants on long-term leases. Differentiated businesses and contrasting rush hours allow for an ideal synergy and mutual benefit across the property. The brick construction building has been beautifully maintained and offers its visitors 242 parking spots in a landscaped and well-kept lot. Four entrances on two separate roads aid traffic flow and allow tenants to operate smoothly. Cross access with CVS and Shell allows for easy entry for those visitors as well. This asset is being offered at an 8.38% CAP rate with tremendous upside potential through future development and repositioning of the property.
Location
State IL
County Cook
Area Hickory Hills
Zoning COMMR
Interior
Cooling Central Individual
Fireplace N
Building
Dwelling Type Retail/Stores
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Dominick Cannata of Brookline Real Estate LLC
GET MORE INFORMATION
Chris Buckely
IL/IN/MI Managing Broker | License ID: IN- RB17001753 | IL- 477013311
QUICK SEARCH
- Real Estate For Sale in Park Ridge, IL
- Real Estate For Sale in Niles, IL
- Real Estate For Sale in Des Plaines, IL
- Real Estate For Sale in Hinsdale, IL
- Real Estate For Sale in Addison, Illinois
- Real Estate For Sale in Arlington Heights, Illinois
- Roosevelt Elementary Park Ridge
- Washington Elementary Park Ridge
- What's My Home Worth?
- Hot Homes in Park Ridge IL HOT
- New Construction For Sale
- Home for Sale in Dyer, IN
- Newer Construction Homes For Sale In Dyer, IN
- Homes For Sale in Schererville, IN
- Newer Construction in Schereville, IN
- Single Family Homes For Sale in Westmont, IL
- Single Family Homes For Sale in Naperville, IL
- Westmont, IL Rentals
- Naperville, IL Rentals
- Park Ridge IL 3D Tours
- Elmhurst, IL 3D Tours
- Niles IL 3D Tours
- Des Plaines, IL 3D Tours
- WALK THROUGH THESE HOMES IN 3D!
- Homes For Sale in Munster, IN
- Des Plaines IL Rentals
- How to search using CBy3D.com
- Map of Open Houses Coming Up
- Recent Sales