Tyler Creek Plaza 2-16 Tyler Creek Plz Local commercial 1 006 m² 100 % Loué À vendre Elgin, IL 60123 2 921 464 € (2 904,98 €/m²) Taux de capitalisation 7,50 %

Investors are offered the opportunity to acquire a five-tenant grocery shadow anchored strip center located in Elgin, IL (Kane County). Tyler Creek Plaza is shadow anchored by Frank’s Freshway Market, a local family-owned chain of grocery stores. Frank’s Freshway market recently completed a major remodel of the store and helps provide consistent foot traffic to the tenants of Tyler Creek Plaza. The property features an ideal mix of three restaurants, one specialty grocer/restaurant and one service tenant. Rosati’s Pizza, a well-known Chicagoland staple, has been a cornerstone of the property for over 40 years. Wingstop anchors the west end cap and according to Placer ai, the Elgin location is the #1 visited Wingstop in the State of Illinois.
The Property features excellent fundamentals as all tenants operate under net leases with management fee reimbursement. A majority of the tenant leases contain annual rent increases, providing an investor with a strong hedge against inflation. In addition, Tyler Creek Plaza patrons have full access to parking on the adjacent parcels, including the Frank’s Freshway Market parcel.
The trade area is defined by Elgin’s dense industrial corridors, providing a deep and durable daytime employment base of nearly 88,000 workers within three miles, a clear benefit to the restaurants. The property sits 1.4 miles from Interstate 90 (108,800 vehicles per day) and one mile from the MD-W Metra station, which serves more than 2.7 million annual riders. The broader trade area is home to over 171,000 residents within five miles, a population that grew 4.9 percent over the prior decade and continues on a projected growth trajectory.