McLean Square | Neighborhood Strip Retail — Sale in Elgin, IL
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Business
- Location: Elgin, IL 60123
Photos
Investment Figures
- Cap rate
- 8.00%
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
This 100% occupied shopping center is anchored by a top performing Dollar Tree, which has operated here since 2014 and ranks in the top 16% nationwide by annual visits. The property has strong leasing momentum with new long term commitments from EVgo, Total Wireless, Great Wall Chinese Restaurant, and Epic Bites Restaurant. Nine of the ten tenants include annual rent increases, supporting a fully net leased and stable income stream. EVgo will install 12 fast charging stalls onsite, creating a prominent EV charging hub with limited nearby competition. The center sits on a 2.14 acre parcel with visibility along N. McLean Blvd (18K VPD) and nearby access to Interstate 90 (105K VPD). It is surrounded by national retailers, dense industrial employment, and key drivers such as Judson University and Advocate Sherman Hospital. The trade area is exceptionally strong, with more than 78,000 residents and 87,000 employees within three miles and an average household income of $116,300 within five miles. Investment Highlights: • 100% occupied shopping center anchored by a top performing Dollar Tree store (Top 16% of locations nationwide by visits) • New leasing momentum | 1 lease signed in 2026, 3 leases in 2025 and 1 lease in 2024 • EVgo signed a 10-year lease with rent commencing in Q4 2026 | Lack of EV fast-charging competition in the area • 1.1 miles from the Big Timber Metra Train Station (2.73 million passengers in 2024) • 78,427 people live, and 87,504 people work within a three-mile radius • Average household income of $116,300 within a five-mile radius
Market Context
This retail in Elgin, IL is listed for sale. It is offered at an approximate 8.0% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Elgin, IL — view the full market.
Contact
- Adrian Mendoza · (630) 570-2163 · adrian.mendoza@marcusmillichap.com
- Sean Sharko · (630) 570-2238 · sean.sharko@marcusmillichap.com
- Austin Weisenbeck · (630) 570-2169 · austin.weisenbeck@marcusmillichap.com
- Dean Giannakopoulos · (312) 327-5423 · dean.giannakopoulos@marcusmillichap.com
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