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Classic Auction - Retail

Rockton Avenue Centre

3124 N Rockton Avenue, Rockford, IL 61103

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 16.00 Acres
  • Year Built
  • 1958
  • Number of Floors
  • 1
  • Number of Buildings
  • 3
  • Parking Count
  • 384
  • Occupancy
  • 39.00%
  • Occupancy as of
  • Sep 15, 2020
  • Retail Type
  • Community Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • Rockford Public Library & Family Dollar
  • Property Size
  • 123,095 Sq Ft

Rockton Avenue Centre

Investment Highlights

SIGNIFICANT UPSIDE POTENTIAL – Rockton Avenue Centre features an extremely unique value-add opportunity as the property is 39% leased, allowing a buyer to add nearly $600,000 of net income to the center by leasing up 74,000 square feet of vacant space consisting of five shop spaces and one outlot space, as well as one 63,070-square-foot endcap anchor position previously leased to Schnucks.

EXCELLENT ACCESSIBILITY – Situated along Rockton Avenue between Halsted Road and Glenwood Avenue, the subject offering benefits from excellent site lines and a signalized intersection providing convenient access for customers. Rockton Avenue is a main north-south thoroughfare that provides direct access to downtown Rockford less than two miles south of the center.

COMPLEMENTARY TENANT LINE-UP – The subject offering is a 39% occupied community center leased to a unique mix of retail, service, and dining tenants. The center is anchored by Rockford Public Library (8,000 square feet) and Family Dollar (7,280 square feet) who have both been at the property for at least 20 years, and features traffic driving tenants including Little Caesars, Cricket Wireless, and Lucky Nails Salon. Moreover, AB Food Mart recently executed a new 10-year lease in 15,700 square feet.

DENSE INFILL LOCATION – The center draws its consumer base from the solid demographics of Rockford and its surrounding communities, which feature a dense residential population of 147,600 people with average household incomes of $60,285 within a five-mile radius of Rockton Avenue Centre.

FREE AND CLEAR – The property is being offered “free and clear” of any debt and offers an attractive opportunity for a buyer taking advantage of favorable debt markets.
 

Offering Details

Mid-America Real Estate Group and RealINSIGHT Marketplace are pleased to offer the opportunity to acquire the fee-simple interest in Rockton Avenue Centre, a 39% occupied community center leased to a unique mix of retail, service, and dining tenants, located in Rockford, Illinois. The center is anchored by Rockford Public Library (8,000 square feet) and Family Dollar (7,280 square feet) who have both been at the property for more than 20 years, and features traffic driving tenants including AB Food Mart (brand new 10 year lease), Little Caesars, and Cricket Wireless. The subject offering features an extremely unique value-add opportunity allowing a buyer to add nearly $600,000 of net income to the center by leasing up 74,000 square feet of vacant space consisting of five shop spaces and one outlot space, as well as one 63,070-square-foot endcap anchor position previously leased to Schnucks. The center draws its consumer base from the solid demographics of Rockford and its surrounding communities, which feature a dense residential population of 147,600 people with average household incomes of $60,285 within a five-mile radius.
 

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Platform Fee

Platform fee for this transaction is 5.00% or a minimum of $25,000.

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Scott Bowers

    c/o Fisher Auction Company Inc.

    License: 040000273