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$ 2,185,000
Est. payment | /mo
9,782 SqFt
$ 2,185,000
Est. payment | /mo
9,782 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 9,782 sqft
Price per Sqft $223
Lot Size 0.871 Acres
Property Description
Convent Retail Center is a 100% leased multi-tenant retail center located at 507–517 N Convent Street in Bourbonnais, Illinois. The property consists of a 9,782-square-foot retail building situated on approximately 0.87 acres along N Convent Street / US Route 52, one of the area's primary commercial corridors.
The center is occupied by three established tenants: Advance Auto Parts, Nancy's Pizza, and Concord Custom Cleaners. Tenants operate under NNN leases with rental increases, providing stable in-place income and reducing lease-up risk for investors.
The property offers approximately 174 linear feet of frontage, strong visibility, multiple access points, and 50 parking spaces. Traffic counts include approximately 19,800 vehicles per day on N Convent Street, 18,400 vehicles per day on E Armour Road, and 32,700 vehicles per day on I-57.
Located minutes from I-57 full interchange access, the property is surrounded by major retailers, schools, residential communities, and local traffic generators including Olivet Nazarene University, Kroger, Jewel-Osco, Meijer, Target, Walmart, Menards, Lowe's, Walgreens, and Northfield Square Mall.
Offered at $2,185,000, the property features a 7.50% cap rate, $163,830 net operating income, and $211,598 effective gross income.
The center is occupied by three established tenants: Advance Auto Parts, Nancy's Pizza, and Concord Custom Cleaners. Tenants operate under NNN leases with rental increases, providing stable in-place income and reducing lease-up risk for investors.
The property offers approximately 174 linear feet of frontage, strong visibility, multiple access points, and 50 parking spaces. Traffic counts include approximately 19,800 vehicles per day on N Convent Street, 18,400 vehicles per day on E Armour Road, and 32,700 vehicles per day on I-57.
Located minutes from I-57 full interchange access, the property is surrounded by major retailers, schools, residential communities, and local traffic generators including Olivet Nazarene University, Kroger, Jewel-Osco, Meijer, Target, Walmart, Menards, Lowe's, Walgreens, and Northfield Square Mall.
Offered at $2,185,000, the property features a 7.50% cap rate, $163,830 net operating income, and $211,598 effective gross income.
Location
State IL
County Kankakee
Listed by Michael Kang • Spacematch Inc.