Barrington Square Town Center 2300-2356 W West Higgins Rd Local commercial 9 455 m² 95 % Loué Immeuble 4 étoiles À vendre Hoffman Estates, IL 60169 8 059 875 € (852,48 €/m²) Taux de capitalisation 8,90 %

SVN Chicago Commercial is pleased to present Barrington Square Town Center in conveniently located Hoffman Estates, IL. This well-maintained, 101,769 SF neighborhood shopping center, sitting on an 11.01-acre site, is well-positioned with “Internet-proof” businesses, which speaks to the stability of the property’s cash flow. Many long-term tenants occupy the shopping center, including Advance Pre-School, Garibaldi’s Restaurant, Gigi’s Playhouse, and Poplar Creek Bowl, which recently expanded their space and invested over $2 million in improvements, including a large catering facility. Newer tenants, Kritunga Indian Restaurant and the 9,000 SF Playroom Cafe Social, have rounded out an impressive tenant mix.
Barrington Square is strategically positioned adjacent to several office parks, other high-quality retailers and restaurants, and is immediately across from the massive Ascension Amita Health St. Alexius Medical Center campus, which hosts over 3,000 employees. It also boasts new prototype McDonald’s, 7-Eleven, Buona Beef, and Popeye’s prototypes on the adjacent outlots. Barrington Square has benefited from long-term, hands-on ownership, which has recently made massive improvements to the property, including a new façade, landscaping, curbing, storm water detention, LED lighting, and parking surfaces, to name a few.
Additionally, the Village of Hoffman Estates has designated the area around Barrington Square for thousands of new residential units, including the existing 300-unit “Seasons of Hoffman Estates”, directly across from the property, and a planned 330-unit development - “Grand Reserve of Hoffman Estates” - immediately adjacent to the property. This opportunity will also provide a new owner upside due to two updated vacant spaces totaling approximately 5,022 SF. Several long-term tenants are also paying below-market rental rates. An additional out-lot land site of 52,905 SF is also available for purchase. The property is being offered at $9,375000, which is an 8.9% CAP rate on Scheduled Income.