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About the Listing 85348 - 896450
Fully leased, 14,916 SF multi-tenant retail center at the corner of Route 47 and Route 126 (E Schoolhouse Rd) in Yorkville. Current NOI of $216,477, with contractual rent increases growing NOI to $234,566. Four established, internet-resistant tenants: fitness, restaurant, personal care and a mattress showroom. Anchor tenant Anytime Fitness (5,916 SF) recently expanded and signed a new lease through June 30, 2037, backed by a corporate guaranty, with one 5-year renewal option. Scheduled annual rent increases begin July 2029, adding $18,089 of contractual NOI growth with no landlord capital required. Southern Belle's Pancake House & Restaurant, at the center since 2008, recently extended through April 30, 2039 with annual rent increases. LA Tan (since 2008) runs through August 2028 and Verlo Mattress (since 2025) runs through October 2028 with three 3-year renewal options; both are NNN leases with annual rent increases. 8.3-year weighted average lease term, with two-thirds of the building leased through 2037 or later. Three of four tenants have been in place since 2008 or earlier. Tax protection: Verlo and LA Tan are NNN, and Anytime Fitness pays its pro-rata share of real estate tax increases over a 2017 base year, so three of the four tenants share in future tax increases. Average base rent is $16.55/SF. Built in 2007 on a 1.35-acre site with approximately 262 feet of frontage on Route 47. Single-story construction, fully sprinklered, with roof repairs completed within the past 5 years. Tenants maintain their own unit interiors and HVAC equipment. Approximately 49 parking spaces are included in the sale, with approximately 29 additional spaces in the adjacent Scooter's Coffee lot. 2025 real estate taxes (payable 2026): $31,370. PIN 02-32-480-011. Strong demographics with average household income of approximately $147,000 within 3 miles in the growing Kendall County market. Nearby retailers include Walmart, Jewel-Osco, Menards, Home Depot, Starbucks, McDonald's, Walgreens, Culver's and Dunkin'. Full offering memorandum, rent roll and lease summaries available to qualified buyers upon request. Do not disturb tenants. All showings by appointment only. All information deemed reliable but not guaranteed; buyer to verify. SCOOTER'S COFFEE BUILDING AND LOT ARE NOT INCLUDED IN THE SALE.
Listing Highlights for 48-98 Schoolhouse Rd
Interior Details
- Appliances:
- Air Cond: Central Individual
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Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 351.95x251.67
- Zoning: COMMR
- Roof:
- Others:
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Financial Details
- Tax Amount: $31,370
- Taxes w/Assessments: N/A
- Tax/Property ID: 0232480011
- Tax Year: 2025
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48-98 Schoolhouse Rd Yorkville, IL 60560
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