9321 S Western Ave - Freestanding FOR SALE


Chicago, IL 60643- Beverly
$5,038,000 USD
312-396-4005
9321 S Western Ave, Chicago, IL for Sale
$5,038,000 USD
Freestanding - FOR SALE
1/2
null | 6.55% Cap Rate

9321 S Western Ave
Chicago, IL 60643
Beverly


HIGHLIGHTS

  • 7.21% Cap Rate (Yield) after May 2028 Contractual Rent Escalation | New Construction in 2018 | 4.75 Years Remaining on Lease
  • Strong Freestanding Retail Site - SHADOW ANCHORED by Walmart, Sam's Club, Menards, Meijers | Rare 320 ft of Frontage on Western Avenue (31,000 VPD)
  • Absolute NNN Lease with No Landlord Responsibilities
  • Below Market Net Rent & NNN Passthroughs | Dynamic Retail Corridor with High Demand and Low Vacancy
  • Strong Tenant - Largest Regional Goodwill Operator with $360 Million in Revenues in 2024
  • Thrift Store Sector is exploding with consumer demand | Recession Proof Sector

OVERVIEW

Constructed in 2018, this single tenant net leased freestanding Goodwill store represents a ground-up new construction combined with a partial adaptive reuse, delivering a fully renovated asset with zero landlord responsibilities in a dynamic retail corridor bordering the southwestern edge of Chicago and Evergreen Park. Its location between both high-income and emerging neighborhoods drives robust inbound donation traffic and consistent outbound shopper activity. Positioned on Western Avenue with a rare 320 feet of frontage and on-site parking, the property benefits from exceptional visibility and access to more than 31,000 vehicles per day. Additionally, the site is shadow anchored by major national retailers including Walmart, Sam’s Club, Meijer, and Menards, and sits within a vibrant retail and medical corridor that brings strong daytime and employee populations. The submarket exhibits extremely low retail vacancy for spaces with Western Avenue exposure, underscoring the strong tenant demand in the area. Recent nearby lease transactions have achieved gross rents of more than $20/SF higher than the subject property, highlighting the below-market rent and NNN pass-through expenses. The property is leased to the largest of the 150 regional Goodwill organizations across the world, operating roughly 100 stores between greater Chicago and Milwaukee with $360 Million in 2024 revenues. The thrift retail sector continues to experience powerful growth driven by sustainability trends, affordability, and the enduring popularity of the “treasure hunt” shopping experience. As a resilient, recession-resistant retail category, the sector tends to do better in economic downturns. With its strong tenant, below-market rent, thrift sector trends, and location in a stable and dynamic Chicago retail corridor, this asset represents a rare opportunity to acquire a newly constructed, high-visibility retail property with a strong fundamentals and long-term upside. Owner is a licensed Illinois managing real estate broker.

FOR SALE DETAILS

PRICE

$5,038,000 USD

PRICE/SF

$344 USD /SF

CAP RATE

6.55%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

-

APN/PARCEL ID

25-06-310-013-0000,25-06-310-028-0000,25-06-310-030-0000,25-06-310-049-0000,25-06-310-050-0000

ASK ABOUT THIS PROPERTY

Finley BrownFWB Property GroupMore Info
312-396-4005

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Finley BrownFWB Property GroupMore Info
312-396-4005

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