200 W North Ave - Freestanding FOR SALE


Melrose Park, IL 60160
$5,767,000 USD
248-688-0631
200 W North Ave, Melrose Park, IL for Sale
$5,767,000 USD
Freestanding - FOR SALE
1/10
null | 6.4% Cap Rate

200 W North Ave
Melrose Park, IL 60160


HIGHLIGHTS

  • 6 Years Remaining | Scheduled Rental Increases | Corporate Guaranteed Lease | Well-Known & Established Brand
  • Dense Retail & Industrial Area | Neighboring O’Hare Submarket | Fronting Gottlieb Memorial Hospital & Triton College
  • NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
  • Direct Residential Consumer Base | Affluent Community | Strong Demographics in 5-Mile Trade Area
  • Signalized, Hard Corner Intersection | Centralized Location

OVERVIEW

SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate guaranteed, freestanding, Goodwill investment opportunity located in Melrose Park, IL (Chicago MSA). The tenant, Goodwill Retail Services, Inc., has 6 years of firm term remaining with an additional 3 (5-year) option periods left to extend. The lease features 8% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is NNN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1902, Goodwill operates one of the largest social enterprises in North America, offering affordable goods, providing job training programs, and providing a variety of community-based services. Goodwill is strategically located near the signalized, hard corner intersection of North Avenue and IL Route 171, averaging a combined 64,600 vehicles passing by daily. North Avenue, in addition to the nearby Interstate 290 and IL Route 19, provide direct access into Downtown Chicago, making this a centralized location with easy access. The asset is ideally situated within a dense retail trade area with direct proximity to Winston Plaza (347K+ SF), North & 9th Center (196K+ SF), and Melrose Place (55K+ SF). The additional nearby national/credit tenants include Costco Wholesale, Target, Jewel-Osco, ALDI, Marshalls, Starbucks, Buffalo Wild Wings, and others. The property also fronts an Amazon Distribution Center (largest in the state - see page 21) and is near a Jewel-Osco Distribution Center, Go2 Cold Storage, Regent Products Corporation, TierPoint Data Center, and other industrial facilities throughout the O’Hare Submarket. The strong surrounding industries drive a loyal, local consumer base to the area, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including The EP (152 units), North & Harlem (161 units), Oak Park Place (204 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 610,400 residents and 210,000 daytime employees, with a healthy average household income of $105,180.

FOR SALE DETAILS

PRICE

$5,767,000 USD

PRICE/SF

$317 USD /SF

CAP RATE

6.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Goodwill

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

69

LAND DETAILS

LAND ACRES

1.76 AC

LAND SF

76,666 SF

ZONING

C-8

APN/PARCEL ID

15-02-116-008-0000

ASK ABOUT THIS PROPERTY

Frank RogersSRS Real Estate PartnersMore Info
248-688-0631

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Frank RogersSRS Real Estate PartnersMore Info
248-688-0631

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