12627 S Route 59 - Freestanding FOR SALE


Plainfield, IL 60585
$5,000,000 USD
832-899-4389
12627 S Route 59, Plainfield, IL for Sale
$5,000,000 USD
Freestanding - FOR SALE
1/6
null | 6.6% Cap Rate

12627 S Route 59
Plainfield, IL 60585


HIGHLIGHTS

  • 10-Year Absolute NNN Lease: Passive investment structure with tenant responsible for all operating expenses, maintenance, taxes, and insurance.
  • Corporate Guaranteed Lease: Lease obligations backed by an established multi-location cannabis operator.
  • 4.00% Annual Rent Escalations: Built-in NOI growth providing a strong hedge against inflation over the lease term.
  • Experienced Multi-Location Tenant: Tenant currently operates four dispensary locations within Illinois.
  • Located in a High-Barrier-to-Entry Cannabis Market: Illinois' limited-license structure supports long-term operator stability and continued demand.
  • Positioned within the growing Plainfield market surrounded by dense residential and retail development.

OVERVIEW

Rare Opportunity to Acquire an Institutional-Quality Cannabis Dispensary at a 6.60% Cap Rate Rare opportunity to acquire a newly constructed, institutional-quality cannabis dispensary leased to Aces Dispensary, a growing multi-location Illinois operator, for $5,000,000. The property is secured by a 10-year Absolute NNN lease with a corporate guarantee from Aces Dispensary, an established operator with four operating locations and a fifth location underway, generating more than $26 million in annual revenue. The investment features a Year 1 NOI of $330,000, representing a 6.60% cap rate, with 4.00% annual rent escalations providing predictable income growth and a built-in hedge against inflation. The ±3,500 SF freestanding building is situated on approximately ±3.91 acres along highly trafficked Route 59, benefiting from more than 30,000 vehicles per day and strong surrounding retail and residential growth. The property offers excellent visibility, accessibility, and a strategic location within one of the fastest-growing suburban markets in the southwest Chicago MSA. Investment Highlights Purchase Price: $5,000,000 Year 1 NOI: $330,000 Initial Cap Rate: 6.60% Lease Term: 10 years Lease Structure: Absolute NNN Annual Rent Escalations: 4.00% Corporate Guarantee: Aces Dispensary Tenant Revenue: $26+ million annually Tenant Footprint: 4 operating locations, expanding to 5 Building Size: ±3,500 SF Land Area: ±3.91 acres Traffic Count: 30,000+ vehicles per day on Route 59 Under the Absolute NNN lease structure, the tenant is responsible for all operating expenses, property maintenance, real estate taxes, and insurance, creating a truly passive ownership opportunity for the investor. The contractual 4.00% annual rent increases provide meaningful income growth over the lease term while helping protect against inflation. The property is located within Illinois' limited-license cannabis market, creating significant barriers to entry for competing operators. The surrounding area benefits from affluent demographics, continued population growth, expanding residential development, and a strong retail environment. The corporate guarantee provides an additional layer of credit support from Aces Dispensary, an established and expanding Illinois cannabis operator generating over $26 million in annual revenue. With four operating dispensaries and a fifth location underway, Aces has demonstrated continued growth and an established operating platform within the Illinois cannabis market. At $5.0 million, the offering provides investors with the opportunity to acquire a newly constructed, high-quality cannabis real estate asset at an attractive 6.60% initial cap rate, backed by a long-term Absolute NNN lease, 4.00% annual rent growth, and a corporate guarantee from a growing operator with substantial annual revenue. This offering combines strong current yield, contractual income growth, passive ownership, and long-term tenant credit support in one of Illinois' most supply-constrained and rapidly growing cannabis markets.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$1,429 USD /SF

CAP RATE

6.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront, Storefront Retail/Office, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2025

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

3.91 AC

LAND SF

170,320 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Charles Patawaran CCIMRemax Commercial Real Estate AdvisorsMore Info
832-899-4389

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Charles Patawaran CCIMRemax Commercial Real Estate AdvisorsMore Info
832-899-4389

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.