DaVita Dialysis | Happy Daze — Sale in Harvey, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Harvey, IL 60426
  • Year built: 2006

Photos

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Investment Figures

Cap rate
8.40%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Investors are offered the opportunity to acquire a two-tenant med-tail center anchored by DaVita Dialysis. DaVita accounts for over 77 percent of the base rent and has successfully operated at this location for 20 years, recently exercising a five-year option. Happy Daze is a successful Chicagoland chain of smoke and vape shops currently operating seven locations. Happy Daze has operated at this location for eight years and has one, 10-year option remaining. With a strong history of high occupancy, the property offers durable cash flow for investors. Illinois is a Certificate of Need state, further ensuring the stability of property. Each lease includes scheduled rental increases, supporting long-term income growth. The property offers high visibility and is located just 0.5 miles from I-294 (178,200 vehicles per day). Frontage along S. Halsted Street (18,000 vehicles per day) exceeds 200 feet. Nearby demand drivers include the Wind Creek Chicago Southland casino/resort and several top-performing retail centers with national tenants. Underpinning the property’s strong fundamentals is a dense trade area with over 74,000 residents and nearly 80,000 employees within a three mile radius. Investment Highlights: • 100 Percent Occupied Two-Tenant Med-Tail Center | DaVita Dialysis & Happy Daze • Long-Operating History | DaVita has Been Operating at this Location Since 2006 • Lease Features Renewal Options with Scheduled Rental Increases During Each Option Period • 0.5 miles from On/Off Ramp of Interstate 294, Which Sees 178,200 Vehicles per Day • Near Top Ranked Shopping Centers and New Casino | Strong Surrounding Drivers • Densely Populated Trade Area with a High Daytime Population

Market Context

This retail in Harvey, IL is listed for sale. It is offered at an approximate 8.4% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2006. Compare it against other retail listings for sale in Harvey, IL — view the full market.

As of Q4 2025, the Chicago retail market showed a 5.1% vacancy rate, average asking rents near $19.00/SF/yr, rents up 2.4% year over year, and cap rates around 7.9%. Source: multiple brokerage reports, Q4 2025.

Its 8.4% asking cap rate is above the Chicago retail market average of about 7.9%, implying a higher yield (and typically more risk or upside) than comparable assets. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 7.9% as of Q4 2025, per multiple brokerage reports.
Is the Chicago retail market tightening or softening?
Vacancy is around 5.1%, with asking rents rising year over year (Q4 2025).

Estimated Price per SF

$56.15/SF – $408.36/SF

Mid: $170.15/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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