CHICAGO—Ten-X, an online real estate marketplace, will conduct the sale of CityPark at Lincolnshire, a 77,821-square-foot retail and mixed-use center, in a live bid event starting on Aug. 22 through the 24th on the Ten-X Commercial platform. Ten-X, formerly Auction.com, will team with HFF to market and sell the Lincolnshire, IL asset. Tenants currently occupy 67.3% of the property, providing investors a value-add retail lease-up opportunity.
“CityPark at Lincolnshire presents investors with a solid lease-up opportunity in a top-tier, suburban Northern Chicago submarket,” says Ten-X 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.”
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, an affluent town located about 30 miles north of Chicago, has an average household income north of $125,000 per year within a 5-mile radius of the property.
CityPark at Lincolnshire's 14 existing tenants include Red Robin, BBCN Bank, T-Mobile and FedEx Office. Viper Alley, a 15,500-square-foot private event entertainment venue, anchors the property. CityPark is also 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 cinema is the largest in the area, and along with the hotel and office complex, provides consistent foot traffic through the center.
CHICAGO—Ten-X, an online real estate marketplace, will conduct the sale of CityPark at Lincolnshire, a 77,821-square-foot retail and mixed-use center, in a live bid event starting on Aug. 22 through the 24th on the Ten-X Commercial platform. Ten-X, formerly Auction.com, will team with HFF to market and sell the Lincolnshire, IL asset. Tenants currently occupy 67.3% of the property, providing investors a value-add retail lease-up opportunity.
“CityPark at Lincolnshire presents investors with a solid lease-up opportunity in a top-tier, suburban Northern Chicago submarket,” says Ten-X 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.”
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, an affluent town located about 30 miles north of Chicago, has an average household income north of $125,000 per year within a 5-mile radius of the property.
CityPark at Lincolnshire's 14 existing tenants include Red Robin, BBCN Bank, T-Mobile and FedEx Office. Viper Alley, a 15,500-square-foot private event entertainment venue, anchors the property. CityPark is also 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 cinema is the largest in the area, and along with the hotel and office complex, provides consistent foot traffic through the center.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
