DISCLAIMER
TERRI COX
SENIOR VP OF SALES
MATANKY REALTY GROUP
P: 773.517.9740
E: TCOX@MATANKY.COM
TROY BATES
SENIOR BROKER MATANKY REALTY GROUP
This Offering Memorandum (the “Memorandum”) has been prepared by Matanky Realty Group (“Broker”) on behalf of the seller solely to provide preliminary information and is not intended to contain all the data required to evaluate a purchase. The information herein has been obtained from sources Broker believes to be reliable; however, its accuracy, completeness, and adequacy have not been independently verified, and no warranty or representation, express or implied, is made as to its accuracy or completeness. The Memorandum is subject to errors, omissions, prior sale, withdrawal from the market, or change without notice. Nothing contained herein should be construed as a promise, recommendation, or representation regarding the past, present, or future performance of the property. Recipients must conduct their own investigations, projections, and analyses and should consult qualified legal, tax, environmental, and other advisors— including but not limited to ADA compliance reviews and environmental assessments—before making any investment decision. By accepting this Memorandum, the recipient agrees that neither Broker nor its employees or agents shall be liable for the use of the information or for any inaccuracies or omissions. This Memorandum is the sole property of Broker and is furnished on the condition that it shall be used only by the party to whom it is delivered for the purpose of evaluating the proposed transaction. It may not be copied, reproduced, distributed, or disclosed to any other person without Broker’s prior written consent and must be returned to Broker upon request. No broker, finder, or other party is entitled to any commission or fee in connection with the sale of the property unless such entitlement is covered by a separate, written agreement with Broker. All rights reserved. Unauthorized use or disclosure of this Memorandum may result in liability for damages.
HALSTED PLAZA
PROPERTY HIGHLIGHTS
• 59,847 SF fully occupied neighborhood center with stable, needs-based tenancy
• Strong in-place return at an 12.06% cap rate, supported by long-term leases
• Prime ±3-acre hard corner at 119th & Halsted with 300 parking stalls and six access points
• High-density trade area with nearly 400,000 residents within 5 miles and strong daytime population
• Multiple recent renewals including Citi Trends (2029), Family Dollar (2026), and Phalanx Family Services (2036)
• 1 mile from Interstate 57, delivering consistent traffic and regional accessibility
PROPERTY SUMMARY
ASKING PRICE
$4,490,000 ADDRESS 801-37 W 119th St Chicago, il 60643 COUNTY Cook YEAR BUILT 1967 (Renovation 1983)
HALSTED PLAZA
THE OPPORTUNITY
Halsted Plaza is a fully stabilized neighborhood retail center serving Chicago’s West Pullman community. The property spans nearly 60,000 SF and is anchored by essential-service and value-focused tenants. With 300 parking spots, six access points, and frontage along the 119th and Halsted commercial corridor, the center benefits from strong visibility and efficient vehicular circulation. Recent capital improvements, long-term tenant extensions, and reliable rent collection reinforce the asset’s durable in-place income profile.
The tenant mix includes national retailers, state-backed services, and a long-standing nonprofit operator, creating a balanced and resilient revenue stream. Citi Trends, Family Dollar, and the Illinois Department of Human Services offer institutional stability, while Phalanx Family Services recently executed a 10-year extension through 2036. Supported by structured rent increases and continued demand for necessity-driven retail, Halsted Plaza provides investors with predictable performance, minimal management requirements, and built-in long-term value.
TENANTS
# SF TENANT
FINANCIAL OVERVIEW
IN-PLACE RENT ROLL - 801-37 W 119TH ST
CASH FLOW - 2025
TENANT PROFILES
Citi Trends is a national, value-oriented apparel retailer with 620+ stores across 33 states and a long history of serving dense, urban markets. Founded in 1958 and publicly traded (NASDAQ: CTRN), the company delivers consistent performance through affordable fashion and disciplined inventory management. With over 90% multi-year occupancy and ongoing store investments, Citi Trends drives steady traffic in necessity-based centers. Its strong customer loyalty and value-focused merchandise support reliable sales performance and reinforce Halsted Plaza’s long-term income stability.
$830 Million in revenue national retailer
6,000+ employees 65+ years in business
The Illinois Department of Human Services (IDHS) is one of the state’s largest government agencies, administering over $13 billion in annual funding and operating 120+ service locations with more than 13,000 employees statewide. As a mission-critical provider of healthcare, economic assistance, disability services, and family support programs, IDHS drives consistent year-round visitation and offers landlords exceptional credit strength, secure tenancy, and recession-resistant stability within community retail centers.
$13 billion annual funding state government tenant
13,000+ employees 120+ locations
Family Dollar is a U.S-based discount retail chain founded in 1959 by Leon Levine in Charlotte, North Carolina. The company operates neighborhood stores that provide low-cost household essentials, groceries, cleaning supplies, and seasonal merchandise. In 2015, Family Dollar was acquired by Dollar Tree, Inc., and in 2025 it transitioned to a standalone company under private ownership by Brigade Capital Management, Macellum Capital Management, and Arkhouse Management. The company remains headquartered in Chesapeake, Virginia, and serves communities across the continental United States. Family Dollar is privately held and continues to focus on value-driven retailing for cost-conscious consumers.
$3.4 Billion in annual revenue 8,000+ locations
193,000+ Employees 65+ years in business
Phalanx Family Services is a long-standing Chicago-based nonprofit delivering workforce development, youth programs, housing support, and family services to thousands of residents each year. Founded in 1984, the organization partners with city, state, and federal agencies and operates a diversified portfolio of programs that strengthen community stability and economic mobility. With 40+ years of continuous service, strong funding diversity, and deep neighborhood engagement, Phalanx generates consistent foot traffic and serves as a stable, high-impact tenant within community retail centers. multiple programs 10 year early renewal until 2026 40+ years in operation community service provider
LOCATION OVERVIEW
CHICAGO, IL
WEST PULLMAN
Chicago anchors a metro area of 9.46 million residents and has ranked first among U.S. metros for corporate relocations for twelve consecutive years. The region supports more than 255,000 businesses, including over 30 Fortune 500 headquarters such as McDonald’s, John Deere, State Farm, Allstate, and GE Healthcare, along with 1.2 million small businesses. Its industrial inventory spans about 1.2 billion square feet, the largest in the nation, powering a 1.1 a trillion-dollar regional economy that is the third largest in the country. Employment averaged 4.76 million in 2024, the highest level since at least 1990, and the population grew by more than 70,000 between 2023 and 2024.
119th Street and Halsted Street in Chicago’s West Pullman neighborhood is a dense and established South Side trade area. The site offers 590 feet of frontage on 119th Street and 300 feet on Halsted, providing high visibility and multiple access points for strong customer flow. The surrounding trade area includes nearly 400,000 residents within 5 miles, a daytime population above 180,000 employees, and immediate access to I-57, 1 mile east. These fundamentals create consistent demand for essential retail and support long-term tenant performance.
West Pullman is a stable, necessity-driven market with proven spending power, generating over $161 million in annual retail and food-and-beverage spend. The property sits 1.5 blocks from the Metra Electric West Pullman Station, expanding regional connectivity and reinforcing the corridor as a reliable shopping destination. Surrounded by national retailers and community service operators, the location benefits from strong daily traffic patterns and a loyal consumer base. These demographics, combined with the site’s visibility, transit access, and essential-retail positioning, make it a competitive and durable investment opportunity.
