Michael Fiddelke Of Target Acquires Former Super Kmart In Round Lake Beach For Redevelopment
400 East Rollins Road
Building Size
190,000 SF
Asset Type
Retail
Closing
Feb 2, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 400 East Rollins Road in Round Lake Beach, comprising a total of 190,000 square feet. Target has acquired the long-vacant former Super Kmart property and plans to demolish the existing structure to build a new store measuring 148,570 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Square Footage: 190,000
- Address: 400 East Rollins Road
- Market: Round Lake Beach
- Buyer: Michael Fiddelke - Target
This transaction marks an important development in the local area, as the acquisition addresses years of community concerns regarding the previous vacant property. Village officials have recognized the redevelopment as a priority, although there is currently no announced timeline for construction.
On the Map
Retail
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Round Lake Beach Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93