Wolf Point Shopping Center

Highlights:

• Ability to improve and upgrade the center through exterior façade upgrades, parking lot improvements, landscaping, updated signage
• Large swath of land adjacent to the PWK Industrial corridor diversified tenant mix operating service-oriented businesses
• Offered well below replacement cost and an attractive land basis offering optionality and future development upside

Description:

Coming to auction on RI Marketplace June 10th
More Information: https://rimarketplace.com/auction/3173/retail/wheeling/il

Baum Realty Group, LLC has been exclusively retained to market for sale the Wolf Point Shopping Center located at 1902-1960 S. Wolf Road in Wheeling, Illinois. The Wolf Point Shopping Center consists of one (1) single-story retail building totaling 33,050 SF of rentable building area sitting on ±184,146 SF(4.23 acres) of land. The center is 100% leased to a diverse mix of local, service-oriented tenants such as the La Rosita Grocery Store, Arnett Animal Hospital, and the Chinese Munch In (Chinese restaurant), among others.

Located at the northwest corner of E. Camp McDonald Road & S. Wolf Road, the Property offers high visibility and strong street traffic with this intersection seeing over 15,650 vehicles per day (VPD). The Property is situated across the street from the Prospect Heights Metra Station.

The offering gives investors the opportunity to capture significant upside through strategic capital improvements, active leasing, and increasing the below market rental rates. The Property also presents a rare chance to control a sizable and well-located parcel at an attractive land basis, providing investors with flexibility and optionality to pursue multiple business plans, including traditional lease-up, partial redevelopment, or repurposing of the existing building(s) to an alternative use such as small bay industrial. Given its location in a strong industrial pocket near Chicago Executive Airport (PWK), a full scale redevelopment of the property to an industrial use is also a viable option in the future.

The ±27,123 SF Ascot Shopping Center, located directly across the intersection, is also up for auction on RI Marketplace in the June 8th Event. Contact Broker for more information.