Former Kmart Building Goes Up For Auction

Freeport, Illinois — Ten-X in association with Mid America Real Estate Corporation is seeking bids on the former Kmart property located at 1880 South West Avenue in Freeport, Illinois. Ten-X says the Vacant Former Kmart offers a purchaser the opportunity to acquire a substantial value-add opportunity located in the city of Freeport, Illinois.

According to their auction listing, the property consists of a single 1-story, single-tenant retail building that contains 86,040 square feet of gross leaseable area, situated on a 8.65 acre site. The center lies adjacent to Meadows Shopping Center, which is occupied by strong national tenants including JCPenney, Anytime Fitness, and Maurices.

The lease-up of the 86,040 SF Vacant Former Kmart offers a substantial value-add opportunity for the purchaser to generate a strong income stream, according to Ten-X. The property will sell at a significant discount to replacement cost.

Starting Bid $250,000.

Property tours are available by appointment only. Please contact Richard Drogosz at 630-954-7339 or rdrogosz@midamericagrp.com to schedule a property tour.

Auction Starts on November 13th.

You can view the full listing here.

 



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