Savoy Shopping Center

Price: $1,004,500
Sq. Ft.: 16,019
Cap Rate: 8.0%
Built: 1999

Marcus & Millichap is pleased to present the opportunity to acquire a 16,019-square-foot,  multi-tenant retail center located in Savoy, Illinois. Savoy Shopping Center is comprised of two buildings that are currently 100 percent occupied, and 40 percent of the leases are triple-net. Tenants consist of Captain Jack’s Treasures, Briella’s Boutique, Jade Fortress Shaolin Martial Arts Academy, and Savoy Tobacco. Additional income is derived from a Green Zone Recycling bin located in the subject property’s parking lot. The buildings are situated on a 1.12-acre parcel with ample paved parking. A double-sided monument sign provides additional exposure to the center.

Savoy Shopping Center is located on South Dunlap Avenue near the signalized intersection with Airport Road. Traffic counts in front of the property exceeds 15,115 vehicles per day. The center is shadow-anchored by a Walmart Supercenter; other nearby national retailers include ALDI, Circle K, Sonic Drive-In, Buffalo Wild Wings, Dollar Tree, Goodwill, Applebee’s Grill + Bar, KFC, and more. The University of Illinois Willard Airport is also in close proximity to the subject property. It is owned and operated by the University of Illinois Urbana-Champaign, taking full advantage of training and research opportunities. The airport is also serviced by American Airlines who offers convenient, non-stop service to Chicago O’Hare and Dallas-Fort Worth.

  • 16,109-Square-Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
  • 100% Occupied | 40% of the Leases are Triple-Net | Future Upside Potential in Converting All Leases to Triple-Net and Improving Below Market Rents
  • Additional Income is Derived from a Lease with Green Zone Recycling | Donation Bins Located in the Parking Lot
  • Priced at $63 per Square Foot | Significantly Below Replacement Cost
  • Located on South Dunlap Avenue Near Signalized Intersection with Airport Road | Traffic Counts Exceed 15,115 Vehicles per Day
  • Nearby Retailers Include ALDI, Circle K, Sonic Drive-In, Dollar Tree, Goodwill, Applebee’s Grill + Bar, KFC, and More
  • In Close Proximity to University of Illinois Willard Airport | Owned and Operated by the University of Illinois Urbana-Champaign | Serviced by American Airlines
  • Three-Mile Average Household Income is $126,525 | Five-Mile Average Household Income is $80,516 | Ten-Mile Average Household Income is $75,684
  • The City of Savoy is a Village in Champaign County and Part of the Champaign-Urbana Metropolitan Area
  • Savoy is Less Than Two Miles From the Main Campus of the University of Illinois | Home to 56,400+ Students