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2300 N Randall Road - The Grove at Randall I, Elgin, IL

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2300 N Randall Road - The Grove at Randall I

Elgin, IL 60123-7802 - Far Northwest Submarket


Property Type:Retail Sub Type:Storefront Status:Existing Year Built:2010
Building Size:5,621 SF Land Area:-
For Sale Price:$2,400,000 Price/SF:$426.97
Cap Rate:6.00 %



Sale Notes:
Transwestern is pleased to exclusively offer for sale The Grove at Randall I (the “Property”), a 5,621-square-foot investement property and one of twelve properties that make up The Grove at Randall. This 100 percent leased, multi-tenant retail property, combined with the rest of The Grove development, is the only true retail servicing nearly 9.5 million square feet of office and industrial space within a 1.5-mile radius. Nearby companies employ a highly educated, white-collar workforce. Major employers include Chase, JBSS (world headquarters), Advocate Sherman Hospital, Newhaven Display (world headquarters), Motorola Solutions, Giant Bicycles, CTDI, Box Packaging (North American headquarters), Touchpoint Logistics and the Elgin Auto Mall. In addition, there are a number of major colleges in the immediate area including DeVry, Keller Graduate, Judson University and American Intercontinental University.
The Grove enjoys a monopoly as the only retail within this market and benefits from a daytime population of 70,000. As a result, the retailers and restaurants at The Grove do extremely well with their captive customer base.


• Fully Leased - 100 percent leased high quality retail center at an irreplaceable location with extremely high barriers to entry.
• Superior Location - Located immediately off Randall Road (60,000 vehicles per day “VPD”), just a half mile north of the Interstate 90 interchange (130,000 VPD).
• High Growth Area - The Grove is surrounded by over 17 office, industrial and business parks (highest employment concentration within Kane County).
• Exceptional Demographics - Household incomes average nearly $110,000 and average household net worth exceeds $850,000 within the three-mile radius.
• New Demand - A 282-unit apartment complex, called Watermark at The Grove, will begin construction in summer of 2017 immediately north of the Property.
• Master Planned Development - The Grove includes elegant streetscapes, digital signage, pond views perfect for outdoor seating, period lighting, pedestrian plazas, distinctive fountains, and interconnecting sidewalks.
• Pride of Ownership - Attractive brick and precast construction with concrete parking.
• Well-Performing Tenants - Anchor shadow-tenants Starbucks and Panera do extremely well at this location.
• Barriers to Entry - This property is the only nearby land site that has curb cuts allowing direct access to the retail stores.

Transwestern
Paul Barile
(312) 881-7000 x1020

Marc Imrem
(312) 881-7066

Andrew Watson
(312) 881-7065




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