Village Green Shopping Center

Village Green Shopping Center in Downtown Northbrook, IL For Sale | 57,456 SF / 3.22 AC Generational Mixed-Use | Diversified Rent Roll with Income Growth | 18 Year Average Tenant Tenure

CBRE, as exclusive agent, is pleased to present the rare opportunity to purchase Village Green Shopping Center (“the Property”). Located at the signalized intersection of Shermer Road and Meadow Road in Northbrook, IL - one of the most affluent north shore Chicago suburbs - the Village Green Shopping Center is a mixed-use commercial and residential property, home to a diversified and complimentary mix of service based tenants with an average tenure of more than 18 years, a multifamily component comprised of 10 luxury apartments, and a 200-stall parking lot. This asset has been under the same ownership for the last 34 years and is in excellent condition, given ownership’s proactive maintenance program and significant CapEx investment on behalf of tenants and ownership alike.
The Property is the central building in downtown Northbrook on busy Shermer Road, directly across from Village Green Park in the heart of Northbrook's central business district. Village Green Shopping center boasts more than 133,000 annual visitors and average annual incomes exceed $230,000 in a one-mile radius. The Property benefits from superior access as it is steps away from the Metra train station and Pace Bus Route. Village Green Shopping Center’s ideal tenant mix, strong operating history, and excellent real estate fundamentals create a compelling and rarely-available investment opportunity.

• Stabilized Asset with Diversified Tenant Mix.
• Currently 94.8% occupied, the Property benefits
from a superior tenant roster and features
25 distinct commercial tenants in a variety
of service-based industries, plus 10 high-end
residential apartments, providing an attractive
inflation-protected income stream.
• Year in year out gross revenue and net
profit growth.
• Lease expirations spread out all the way through
to 2033.
• 5 year compounded annual NOI Growth at 3.23%.
• Huge spread of risk - only one tenant occupies
7 ½ % of the leasable space.
• This Property offers investors the potential to
generate significant upside with rent growth and
converting Gross lease to NNN.
• Almost zero turnover, minimizing vacancy months,
new tenant build out and broker commission costs.
• Diversified Rent Roll with Income Growth.