Carillon Court

Highlights:

• value-add opportunity Carillon Court is presently 79.7% occupied, featuring a diverse range of local, internet-resistant tenants. This investment presents an opportunity for future owners to increase cash flow by leasing the remaining 5,920 square feet, which is divided into five units ranging from 1,370 to 1,750 square feet.
• Long-Term Tenancy The center boasts long-term tenancy, with 50% of tenants having operated at the property for over 20 years, indicating strong commitment and stability. Additionally, 25% of tenants have occupied their spaces for more than 10 years, highlighting the center’s desirability and fostering a loyal customer base. This longevity not only enhances the property’s income stability but also reduces turnover costs, making it an attractive investment opportunity.
• RECENT CAPITAL IMPROVEMENTS Ownership recently invested over $1M in capital improvements including facade, storefront, sidewalks, and white boxing two vacant suites.
• Retail Center of Gravity Carillon Court is surrounded by prominent retailers along Weber Road, the primary area retail node serving Romeoville, including Walgreens, Jewel-Osco, Dunkin Donuts, Target, Kohl’s, Wal-Mart, TJ Maxx, Jimmy Johns, and Starbucks among many others, creating a superior retail destination for consumers. This retail corridor services an expansive surrounding trade area which comprises over 61,000 residents within a three mile radius.
• Strategic Location Carillon Court is located along Weber Road, just south of its interchange with Interstate 55. Weber Road is a highly-traveled, primary north-south thoroughfare for the city, with average daily traffic counts of 34,700. Interstate 55 is a major interstate, with daily traffic counts of 118,500 at its intersection with Weber Road. The Property is easily accessible at a fully-signalized intersection of Weber Road and W 135th Street (Romeo Road).
• Powerful Demographics The surrounding area has an excellent, dense, affluent demographic profile, with a population over 147,000, earning an average household income of $132,119 within a five mile radius – approximately 1.15x and 1.18x higher than the state and national averages, respectively
• Below Replacement Cost Priced at $7,500,000, or $256.77 per square foot, the asset is priced beneath the costs required to replace it.

Description:

Qualified investors have the exclusive opportunity to acquire a 100% fee interest in Carillon Court, a neighborhood retail center encompassing 29,209 square feet, situated in the southwest suburb of Romeoville, Illinois, near Chicago. The property is strategically positioned at the northwest corner of Weber Road and West 135th Street (also known as Romeo Road). Weber Road serves as a major north-south thoroughfare for the city, with significant traffic counts averaging 34,700 vehicles per day.

Carillon Court was developed in 1990 on a site measuring approximately 4.839 acres. Currently, the center presents a value-add opportunity, as it is operating at 79.7% occupancy, allowing potential investors to enhance the property’s performance through leasing the 5,920 square feet of vacancy.

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