Colliers Net Lease Investment Group is pleased to present to qualified investors the opportunity to acquire a 100% fee interest in a newly remodeled Meinke location in the Chicago MSA. This is a chance to acquire a recession proof single- tenant net lease with a good operating history and a growing franchisee. Meineke is one of the leading brands in auto-maintenance and repair and is now under the Driven Brands umbrella.
This 4,182-square-foot property is located on Irving Park Road (I19) just west of Barrington Road. The property sits at the hub of the Hanover Park retail corridor surrounded by retail and residential.
Irving Park Road brings 23,000+ people by the property daily and the Intersection at Barrington Road has 30,700+. There are over 18,900+ people within 1 mile and 119,000+ people within 3 miles of the store.
The single-tenant building is leased for a 15 year term and is offered at $1,493,506, corresponding to a 7.70% cap rate.