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THE SHOPPES AT MEADOWVIEW | VALUE ADD OPPORTUNITY

$6,500,000 | 10.24

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17 Meadowview Center
Kankakee, Illinois

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Features

  • Regional Shopping Center Anchored by Planet Fitness, Athletico Physical Therapy, Citi Trends and More
    • Two Multi-Tenant Buildings, One Inline Building, and One Outlot
  • Occupied with an Ideal Mix of National, Regional and Local Tenants
    • 18 of the 20 Tenants are Operating Under Net Leases with Management Fee Reimbursement
    • Multiple Long-Term Tenants | 11 Tenants Have Been Operating at Location for Over 10 Years
    • 11 Tenants have Annual Rental Increases Between Two and Seven Percent
    • Currently 68 Percent Occupied | Opportunity to Add Value and Cap Rate Growth Through Leasing the Remaining 43,001 Square Feet of Vacant Space
  • Attractive Real Estate Fundamentals
    • Positioned Along Heavily Traveled Kennedy Road Which Features Daily Traffic Counts of 26,474 Vehicles
    • 10 Points of Ingress/Egress Along Kennedy Road, Fifth Avenue, Brookmont Boulevard and Henry Street | Over 41,400 Vehicles Passing per Day
    • Large Lot | 15.14 Acres
    • Abundant Parking in the Front and Rear of the Property | 1,400 Surface Spaces
    • Located in an Opportunity Zone | C-2 Service Commercial District
  • Less Than One Mile to Riverside Medical Center (341 Licensed-Beds) and Presence St. Mary’s Hospital (170 Licensed-Beds)
  • Located Along the Highway 52 Commercial Corridor and Situated Amongst Interstate 57, Public Schools, Universities and Shopping
    • Less Than on Mile to Bradley-Bourbonnais Community High School | 1,944 Student Enrollment
    • One Mile to Olivet Nazarene University | Over 3,500 Students
    • 2.5 Miles to Interstate 57 | 41,250 Vehicles Passing per Day
    • Three Miles to Northfield Square Mall | Premier Shopping Destination for Kankakee County
    • 384,975 Square Feet | Anchored by JCPenney and Cinemark Movies
    • Proposed Redevelopment Master Planning
    • Notable Major Retailers in the Area Include Big Lots, Walgreens, Lowe’s, Dollar Tree, JoAnn Fabrics, Harbor Freight Tools and More
  • High Daytime Population | 66,979 People Work Within Three Miles of Subject Property

Contact

ADRIAN MENDOZA
First Vice President Investments
Tel: (630) 570-2163
Adrian.Mendoza@marcusmillichap.com
* Broker of Record: Steven Weinstock

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