The Boulder Group is pleased to exclusively market for sale a single tenant net leased Starbucks property positioned within the Chicago MSA in Antioch, Illinois. The new ten-year lease is expected to commence in August 2025 following the completion of construction. It will contain 10% rental escalations every five years throughout the primary term and four 5-year renewal options.
The 2,540 square-foot building benefits from its position along Illinois Route 59 (11,500 VPD) and proximity to Illinois Route 173 (12,900 VPD). The property is neighbored by several nationally recognized retailers that include Jewel-Osco, Ace Hardware, CVS Pharmacy, PNC Bank, and Advance Auto Parts. Other retailers found nearby include McDonald’s, Chevrolet, Ford, Tractor Supply Company, NAPA Auto Parts, Dairy Queen, and Domino’s Pizza. Additionally, the property is less than one mile from Antioch Community High School which has over 1,300 students enrolled. There are over 48,000 people living within a five-mile radius. Antioch is an affluent community that earns an average household income in excess of $128,000.
Starbucks Corporation (NASDAQ: SBUX) is an American global coffee company and coffeehouse chain based in Seattle, Washington. Starbucks was founded in 1985 as a local coffee bean roaster and retailer and has grown into the largest coffeehouse company in the world. In recent years, Starbucks has expanded exponentially, more than doubling its units over the past 10 years. The number of Starbucks stores worldwide exceeded 35,000 in 2024. Starbucks is an investment grade rated company with a Standard & Poor’s rating of BBB+.