$1,300,000 USD
312-756-7332
HIGHLIGHTS
- Corporate NNN lease | Tenant exercised its 2nd 5-year extension in June of 2024
- Store is presently dark with rent payable until May of 2030
- Great downtown Chicago West Loop location in 101-unit constructed condo building built in 2005
- Investment Grade Tenant rated A and Baa2
- No Gas Station Component involved
- Tenant Leases 2 indoor heated parking spaces and Tenant pays Condo Association dues, Real Estate taxes, and all utilities
OVERVIEW
7-Eleven signed a 15-year NNN lease starting in 2005 with 3 five-year options to renew. In 2020, 7-Eleven entered into negotiations with the present owner to exercise its first 5-year option. The Tenant in 2024 exercised its 2nd 5-year extension, which brings the lease term to May 31, 2030. In September of 2024, 7-Eleven decided to close this store along with 500 other stores.
FOR SALE DETAILS
PRICE
$1,300,000 USD
PRICE/SF
$516 USD /SF
CAP RATE
8.97%
# OF UNITS
1
CONDO SIZE
-
% LEASED
-
TENANCY
-
SALE TYPE
Investment Or Owner User
BUILDING DETAILS
PROPERTY NAME
NNN Single Tenant 7-Eleven (Dark)
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
184,536 SF
STORIES
8
BUILDING CLASS
B
YEAR BUILT
2005
SPRINKLERS
-
PARKING SPACES
240
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
17-17-206-016-1021,17-17-206-016-1026,17-17-206-016-1044,17-17-206-016-1053,17-17-206-016-1066,17-17-206-016-1076,17-17-206-016-1091,17-17-206-016-1096,17-17-206-016-1098,17-17-206-016-1101,17-17-206-016-1110,17-17-206-016-1148,17-17-206-016-1154,17-17-206-016-1156,17-17-206-016-1160,17-17-206-016-1161,17-17-206-016-1169,17-17-206-016-1175,17-17-206-017-1107,17-17-206-017-1144,17-17-206-017-1175,17-17-206-017-1182,17-17-206-017-1186
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
312-756-7332
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
Please correct the highlighted field(s).
312-756-7332
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
