January 8, 2025 – Uriel Escobar of Horvath & Tremblay has successfully completed the sale of a Retail Plaza in Woodridge, Illinois. Horvath & Tremblay represented the seller and procured the buyer to complete the transaction at a sale price of $3,700,000.
The Retail Plaza is located at 3010-3054 W Hobson Road in Woodridge, Illinois. The plaza contains 32,921 square feet of gross leasable area on a 2.94-acre parcel. The Property contains sixteen (16) retail suites and is 53% leased to a complimentary mix of local tenants that serve the needs of the area residents. The nine in place tenants have net leases and reimburse their pro-rata share of operating expenses; additionally, eight of the tenants have scheduled rent increases in their primary lease terms providing a steady increase in income and an attractive hedge against inflation. The Property offers significant upside through the lease-up of the seven (7) vacant units totaling 15,446 square feet. The highly visible Property is strategically located along Hobson Road, one of the region’s primary commuter roads. The Property is positioned in between Interstate 355 and IL Route 53. The Property is also within 2-miles of the area’s primary commercial corridors and is surrounded by densely populated residential neighborhoods, area schools and Benedictine University, all of which provide a captive consumer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.