Multi-Tenant Retail Center Leased to Planet Fitness, Citi Trends, O'Reilly Auto Parts, Family Dollar and McDonalds. Value-add opportunity at 50% occupancy rate with strong cash flow in-place.
Meadowview Shopping Center (the "Property) is a multi-tenant retail center located at 1030-1190 North 5th Avenue in Kankakee, Illinois. The Property consists of 215,000+ square feet over 31.86 acres, and is comprised of three (3) inline multi-tenant buildings, an O'Reilly Auto Parts out lot, a McDonald's out lot (with drive-thru), and a two (2) unit out lot building. The Property is currently 50% occupied and leased to Tenants Citi Trends, Planet Fitness, Family Dollar, O'Reilly Auto Parts, McDonald's, Rent-A-Center, and Athletico, among others. Planet Fitness, the largest Tenant at the Property with approximately 16,000 square feet, has leased at the center since 2013 and maintains lease term into 2026. McDonald's has leased at the Property since 1989. Of the 26 leases in place, 24 are net leases. The Property is well located at Kennedy Drive and 5th Avenue with visibility and exposure to approximately 43,000 VPD. The Property benefits from it's proximity to neighboring Bishop McNamara High School, Meadowview Theatre Classic Cinemas, and Riverside Medical. Neighboring retailers include Walgreens, CVS Pharmacy, Jewel-Osco, Big Lots, Dollar Tree, Dollar General, Starbucks, Wendy's, and Popeye's among many others.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
17 Meadowview Center, Kankakee, IL 60901
Platform fee for this transaction is 5.00% or a minimum of $25,000.
c/o Fisher Auction Company Inc.