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Virtual Drive-By

Kohl's Absolute NNN

1240 Hickory Point Mall · Forsyth, IL 62535 · Specialty Retail

Asking price
$2,126,600
Cap rate
7.50%
NOI
$159,500

Need financing on this deal

We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.

Lease

Lease typeAbsolute NNN
Term remaining2.5 yrs
Expiration01/2029
Rent bumps10% Every 5 - Next Increase in 2029 (Option Period)
Options4, 5-year options
Ground leaseYes
Credit profileCorporate Guarantee
TenancySingle

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF90,500
Price / SF$24
Year built1983
Lot size2.26 ac
TypeStorefront
Days on market202

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

  • ​Zero Landlord Responsibilities: Absolute NNN Ground Lease structure, with a tenant that has been in operation at this location since 1982.
  • ​Below Market Rent: Current rent is significantly below market rent paying a mere $1.76 PSF, offering substantial future upside.
  • ​Below Replacement Cost: At $23.50/SF, the acquisition price is significantly below replacement cost, offering strong upside and yield potential.
  • ​Hedge Against Inflation: The lease provides for 10% rent increases every five years. The next scheduled bump is in 3.5 years, which will adjust the cap rate to approximately 8.8%.
  • ​New Area Developments: Forsyth, IL is experiencing sustained commercial expansion. New developments such as Panda Express’ recently delivered outparcel and Chick-fil-A’s planned redevelopment of the former Applebee’s pad along U.S. Hwy 51 demonstrate strong tenant demand within the corridor. The area continues to attract national retailers including Starbucks, Five Below, Dollar General, Taco Bell, and Menards, reinforcing its position as a growing retail hub.
  • ​Prime Lodging Hub: There are approximately 13 hotels in the city, making this the premier retail and hospitality node for the entire Decatur metro area, making it one of the strongest commercial trade areas in Central Illinois.
  • ​Strategic Location: Kohl’s is located within Hickory Point Mall, the primary retail hub for Decatur, IL and the communities between Champaign and Springfield. The mall fronts US Route 51, a major north–south corridor with over 17,600 VPD, providing direct access to Downtown Decatur and to Bloomington. It also sits just a half-mile from the Route 51/Interstate 72 interchange, offering strong regional connectivity.
  • ​Strong Regional Employers: Major employers in the area include Archer Daniels Midland, Caterpillar, Decatur Memorial Hospital, Decatur Public Schools, HSHS St. Mary’s Hospital, and Ameren Illinois.

Take the next step on this property

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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.