Colliers Net Lease Investment Group is pleased to present to qualified investors the opportunity to acquire a 100% fee interest in a 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 2,242-square-foot property is located on 111th Street just west of the I294 on off ramp in the south suburb of Chicago Ridge. The property sits on a commercial corridor surrounded by industrial parks and residential.
111th Street brings 33,800+ people by the property daily. There are over 15,000 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 $1,376,623 corresponding to a 7.70% cap rate.