3550 W Grand Ave - Freestanding FOR SALE


Gurnee, IL 60031
$1,654,510 USD
847-562-0003
3550 W Grand Ave, Gurnee, IL for Sale
$1,654,510 USD
Freestanding - FOR SALE
1/3
null | 7.25% Cap Rate

3550 W Grand Ave
Gurnee, IL 60031


HIGHLIGHTS

  • Positioned within the Chicago MSA – Ranked #3 in the United States for population size
  • Harbor Freight has extended the lease multiple times since opening in 2014 – most recently through June 2034 – demonstrating commitment to the locatio
  • 7.5% rental escalation every ?ve, next occurring in 2029
  • Proximity to Gurnee Mills, one of the largest shopping centers in Illinois at nearly 2 million square feet, anchored by Macy’s, Kohl’s, Bass Pro Shops
  • The site bene?ts from high vehicular traffic at the intersection of Grand Avenue (21,000 VPD) and US Route 41 (37,000 VPD), with Green Bay Road
  • Located within minutes of Interstate 94, one of northern Illinois’ primary transportation arteries, which carries more than 100,000 vehicles per day

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Harbor Freight property positioned within the Chicago MSA, in Gurnee, Illinois. Harbor Freight has successfully operated at this location since its opening in 2014 and has repeatedly demonstrated its long-term commitment by extending the lease multiple times, most recently through June 2034. The lease provides for 7.5% rental escalations through-out the primary term (next escalation in 2029) and includes three 5-year renewal options. The 20,568-square-foot building is positioned along Grand Avenue, which carries approximately 21,000 vehicles per day, and is located immediately east of Route 41, a primary north-south arterial accommodating approximately 37,000 VPD. Just to the east, Green Bay Road provides an additional high-traffic north-south route carrying approximately 33,000 VPD. Interstate 94, one of northern Illinois’ primary transportation corridors, is accessible within minutes and carries more than 100,000 VPD along this stretch. The property bene?ts from its location in the established Gurnee retail corridor, roughly 10 minutes east of Gurnee Mills — a nearly 2-million-square-foot regional shopping destination anchored by Macy’s, Kohl’s, Bass Pro Shops Outdoor World, Dick’s Sporting Goods, Burlington, and IKEA (coming soon). The site also draws consistent traffic from Six Flags Great America and Hurricane Harbor Chicago, a regional entertainment destination attracting approximately 3 million annual visitors. There are more than 170,000 residents within a ?ve-mile radius of the property, with an average household income exceeding $115,000. Neighboring retailers include Jewel-Osco, Walgreens, Starbucks, McDonald’s, Sherwin-Williams, Dollar Tree, Thornton’s, and several others. Harbor Freight Tools is one of the largest and fastest-growing privately held tool and equipment retailers in the United States, operating more than 1,650 stores across 48 states from its headquarters in Calabasas, California. Founded in 1977, Harbor Freight Tools generates approximately $8 billion in annual revenue through its value-focused retail model, which offers a broad assortment of power tools, hand tools, automotive equipment, and shop supplies under its proprietary brand portfolio. The company is targeting 2,000 total store locations by 2027, re?ecting its continued commitment to physical retail expansion.

FOR SALE DETAILS

PRICE

$1,654,510 USD

PRICE/SF

$80 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harbor Freight Tools

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

49

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

EGG

APN/PARCEL ID

07-13-421-006

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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