Chatham, IL - Plummer Plaza

Description:

SRS Real Estate Partners is pleased to present the opportunity to acquire the fee simple interest in Plummer Plaza, a 28,123-square-foot neighborhood retail center located in Chatham, Illinois. The property is currently 85% occupied by a mix of national, government, and local tenants including Dollar Tree (BBB), USPS, and Scoop Du Jour, providing investors with immediate cash flow and a weighted average remaining lease term of approximately 7.0 years.

The subject property is positioned within Chatham’s primary retail corridor and benefits from strong retail synergy generated by nearby retailers including Walgreens, Casey’s, Ace Hardware, Dollar General, County Market, Pizza Hut, Pet Supplies Plus, and McDonald’s. The trade area is supported by more than 29,500 residents, 12,300 employees, and average household incomes exceeding $134,000 within a 5-mile radius.

Plummer Plaza offers a compelling value-add opportunity through the lease-up of the remaining 4,281-square-foot vacancy. To facilitate stabilization, the seller will provide a one-year credit for base rent and operating expense reimbursements associated with the vacant suite, in addition to tenant improvement and leasing commission allowances (See Page 18 for more information). This structure helps mitigate near-term lease-up costs and vacancy risk. Dollar Tree occupies approximately 43% of the center under a lease extending through 2035, while USPS and Scoop Du Jour provide additional diversification. Existing leases feature contractual rent increases, creating embedded NOI growth and providing a hedge against inflation over the anticipated hold period.

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Listing ID: a28TP000002uBZ7YAM