The Shoppes at Geneva Commons
Geneva, IL 60134
The Shoppes at Geneva Commons Logo Image
1002-1096 Commons Drive
Geneva, IL 60134
  • Asking Price: $9,412,000
  • Cap Rate: 7.40%
  • Property Type: Retail
  • Status: Available
PROPERTY DETAILS:

Outlot to Major Power Center – Geneva Commons is one of the strongest performing lifestyle centers in the Chicago MSA. Dominant Retail Corridor – The property features over 400 feet of frontage along Randall Road, one of Chicagoland’s most dominant retail corridors, with over 2.5 million square feet of retail. Passive Net Leases - All tenants pay their pro-rata share of CAM, taxes, insurance, and capital expenses (amortized), plus management / admin fees, providing virtually zero slippage of expenses. Attractive Tenant Line-Up – Leased to a complimentary mix of national and regional tenants including ATI Physical Therapy, Vitamin Shoppe, Verizon Wireless, Jimmy John’s, Precor Fitness, Lou Malnati’s Pizza, and others. Affluent Chicago Suburb – There are over 60,000 residents earning an average household income in excess of $126,000 within 3 miles. Major Growth Area - Directly behind Geneva Commons is a recently completed 256-unit multifamily development. Another 670 residential units are expected to be delivered in November 2019. Value-Add Potential - Opportunity to add value to this historically well-occupied center through the lease-up of the last remaining space. Attractive Assumable Debt - The property features attractive non-recourse assumable debt, providing a new owner with strong cash-on-cash returns.