#United States #Illinois #Hilco Global #Third Lake

Exciting Real Estate Opportunity in Third Lake, Illinois

A prime investment opportunity has emerged in Third Lake, Illinois, as Hilco Global opens the bidding for a fully leased, multi-tenant retail building. This commercial property, which spans approximately 7,200 square feet, is currently completely rented out and is poised to attract investors looking for secure income-generating assets in the competitive Northern Chicago suburbs.

Property Overview

Built in 2006 and situated on a generous 0.93 acres, this stand-alone building boasts a favorable zoning designation of PUD (Planned Unit Development), tailored for commercial business. The property includes around 30 parking spaces, ensuring accessibility for guests and customers alike. It’s strategically located adjacent to the Goddard School of Third Lake, a well-regarded daycare center catering to pre-K and kindergarten learners. This positioning not only enhances foot traffic but also signifies the site's integration into the community's daily life.

Moreover, the retail hub surrounding the building, namely Waterstone Place, features a blend of local shops and popular national chains, including Starbucks, Dunkin' Donuts, Lou Malnati's Pizzeria, and CVS, thereby affirming the area's vibrant commercial ecosystem.

Tenant Composition

The building currently hosts three diverse tenants: Athletico, Lucky Penny's Gaming Bar, and No. 36 Fitness. This mix not only caters to regular needs but also encourages repeat visits, adding to the site's stability and attractiveness as an investment. Each tenant plays a vital role in maintaining an engaged community, from fitness enthusiasts to families, enhancing the overall tenant structure.

Strategic Location

Positioned along the high-traffic U.S. Route 45, the site benefits from excellent visibility, with average daily vehicle counts nearing 21,000. Its location also ensures easy access to key destinations like Gurnee Mills shopping center, Six Flags Great America, and the College of Lake County. Placement between established suburbs like Grayslake and Gurnee further amplifies its appeal.

The demographics surrounding the property are robust, with a population of over 51,000 within a three-mile radius and an average household income of $165,900. Expanding this radius to five miles reveals more than 130,800 residents with an average household income of $154,220, illustrating a well-off community likely to support the ongoing success of this retail space.

Market Insights

Michael Kneifel, the associate director at Hilco Global, indicated that retail assets leased to reliable tenants in suburban markets with limited supply, such as Third Lake, show strong performance. Investors have the chance to acquire this stabilized asset, which promises immediate income while also benefiting from potential rental growth and long-term appreciation.

Next Steps for Investors

Interested parties must submit their offers by June 25, with full documentation and the terms of sale accessible on the Hilco Global real estate sales website. For further inquiries, buyers can contact Cooper Jones or Michael Kneifel directly.

With such a distinctive opportunity on the table, the prospect of acquiring a strong income-producing asset in a thriving community is not to be overlooked.

About Hilco Global

Hilco Global, a subsidiary of ORIX Corporation USA, is a leading diversified financial services company offering integrated solutions to help clients maximize value across multiple sectors. With over 810 experts globally, Hilco is recognized for its extensive experience in navigating complex financial landscapes, making it an authoritative figure in real estate and investment sectors.