Receiver Sale: Former Grocery Anchored Regional Shopping Center

Highlights:

• Value-Add Former Grocery Anchored Regional Shopping Center. The property is currently 39.37% leased with 4.81 years of weighted average lease term and anchored by Forman Mills, Dollar Tree and Planet Fitness.
• Irreplaceable Location & Limited Retail Supply. The Yards Shopping Center is built in a dense urban infill location with over 250K residents within three miles with a $61,264 average household income.
• Excellent Visibility and High Traffic Counts. Located on 47th Street with ±61K vehicles per day
• Ample Parking Ratio. +/-4.74 per 1,000 SF (+/-1,235 parking spaces)
• Lease-up opportunity of two vacant anchor boxes totaling +/-147,885 SF and mark-to-market opportunities on smaller, in-line tenants (some in-place leases are currently +/-$10.00-$15.00 PSF NNN below-market).
• Rare opportunity to acquire 21.03 acres +/- 5 miles from the Chicago CBD.

Description:

RI Marketplace Online Auction may 5-7, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2375/auction-receiver-sale-former-grocery-anchored-regional-shopping-center?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2375

Freidman Real Estate and RealINSIGHT Marketplace are pleased to present the opportunity to acquire The Yards Shopping Center (the “Property” or the “Center”), a 260,481 square foot former grocery-anchored shopping center in Chicago, Illinois. The Property is 39.37% leased and anchored by Forman Mills, Dollar Tree and Planet Fitness. Two vacant anchor boxes totaling +/-147,885 provide significant upside to the cash flow. The Center was constructed in 1990 by Melvin Simon & Associates, one of the largest shopping center developers in the nation.

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