CHICAGO – August 9, 2016 – Ten-X, the nation’s leading online real estate marketplace, announces the upcoming sale of CityPark at Lincolnshire, a 77,821-square-foot retail/mixed-use center which will be offered for sale in a live bid event Aug. 22-24 on the Ten-X Commercial platform. Ten-X is teaming with HFF to market and sell the Lincolnshire, Ill. asset. The property currently is 67.3-percent leased, providing investors a value-add retail lease-up opportunity.
Built in 2001, CityPark at Lincolnshire covers 8.17 acres and consists of four buildings, three of which comprise the primary structure and are joined by staircases and covered walkways. There are currently five spaces available for lease, all of which are second generation spaces ranging in size from 1,350 square-feet to 8,890 square-feet. Lincolnshire is an affluent town located approximately 30 miles north of Chicago with an average household income north of $125,000 per year within a 5-mile radius of the property.
“CityPark at Lincolnshire presents investors with a solid lease-up opportunity in a top-tier, suburban Northern Chicago submarket,” said Ten-X Commercial Real Estate Division General Manager Gordon Smith. “This is a proven, high-quality property with a strong tenant base that offers a new owner the chance to increase occupancy and capitalize on extension options.”
CityPark at Lincolnshire’s 14 existing tenants include Red Robin, BBCN Bank, T-Mobile and FedEx Office. The property is anchored by Viper Alley, a 15,500-square-foot private event entertainment venue. CityPark also benefits from being part of a larger mixed-use development, which includes a 21-screen Regal Cinema IMAX theatre, a 70,000 square-foot office building and a 117-room Hampton Inn and Suites. The Regal Cinema is the largest in the area, and along with the hotel and office complex, provides consistent foot traffic through the center.
For more information, please click here or call 844-694-4976.
# # #
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Ten-X is the nation’s leading online real estate transaction marketplace and the parent to Ten-X Homes, Ten-X Commercial and Auction.com. To date, the company has sold 200,000+ residential and commercial properties totaling nearly $39 billion. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions online. Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include Google Capital and Stone Point Capital. For more information, visit Ten-X.com.