Kohl's
92,500 SF | Retail Building | Forsyth, IL 62535 | $2,365,000 ($26/SF) | 6.75% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,365,000
- Property Type
-
Retail
- Square Feet
- 92,500 SF
- Price / Square Foot
- $26
Listing Contacts
George Ghattas
Verified Profile
Ben Wineman
Verified Profile
Olivia Simmons
Verified Profile
- Property Info
Property Overview
Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the 2.26-acre parcel containing a Kohl’s store. This is a unique opportunity for an incoming investor to acquire more than 2 acres of on-mall land secured by a recently-renewed lease with a longstanding Kohl’s.
Property Details
- Class
- B
- Year Built
- 1983
- Stories
- 1
- Lot Size (sq. ft)
- 99,317 SF
Highlights
- GROUND LEASE INVESTMENT The subject offering presents a rare opportunity to acquire a Kohl’s ground lease at a low basis with no landlord responsibili
- ANCHOR TO PROMINENT MALL The subject offering is located at the Hickory Point Mall, an 808,000 square foot enclosed regional mall that was constructed
- OUTSTANDING REGIONAL LOCATION Kohl’s is part of the Hickory Point Mall, the major retail draw for the Decatur area and the communities located between
- TRAFFIC-DRIVING CO-TENANTS Hickory Point Mall is one of the primary regional malls serving the city of Decatur and the surrounding communities that ma
- LONG-TERM TENANT Kohl’s has operated at Hickory Point Mall since 1982 and expanded its space by 28,000 square feet in 2003 and recently added a Sephor
- RECENT DEVELOPMENT ACTIVITY The Route 51 commercial corridor has become increasingly active in recent years as retailers and developers recognize the
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