Retail

Dollar Tree & Aarons - Chicago, IL

9255 S Western Ave Chicago, Illinois United States 60643-6717
Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

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Attributes

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Land Area ()

Property Description

Jones Lang LaSalle Americas (Illinois), L.P., ("JLL"), JLL on behalf of “The Seller”, is pleased to offer for sale the fee-simple interest in a 24,800 square foot, two-tenant building at 9255-9301 S. Western (the “Property”, “Asset”) in Chicago, IL, featuring corporate-backed Dollar Tree & Aaron’s leases (the “Tenants”) with over 8 years of remaining WALT. With over 32,000 vehicles per day along Western Ave. across from the Evergreen Marketplace Shopping Center, the Property sits in a strategic location that is highly accessible to the heavy traffic and over 8.5 Million annual visitors to the retail corridor. The Shopping Center is one of the highest performing in the Midwest, ranking in the top 5% in terms of annual visitors in all of Illinois and Chicago, featuring anchor tenancy from Walmart, Meijer, Menards, and Sam’s Club. The Property was recently redeveloped, featuring renovation and expansion of the existing building to deliver a custom space for Aaron’s - who recently signed a brand new 10-year lease. Additionally, there are two parking lots – one at each end of the Property that are cross-parked and serve both Tenants – creating ideal dual-tenant shopping accessibility for maximum performance by each Tenant. The Property presents a unique opportunity to acquire long-term net leased Tenants with impressive credit and WALT in a premier infill Chicago location. 

Investment Highlights

  • INFILL CHICAGO REAL ESTATE ACROSS FROM A TOP-RANKING SHOPPING CENTER
  • CORPORATE GUARANTEES WITH INVESTMENT-GRADE TENANCY
  • NEWLY REDEVELOPED ASSET TAILORED TO THE TENANTS’ REAL ESTATE STRATEGIES
  • LONG-TERM NET LEASE STRUCTURE WITH ZERO LANDLORD RESPONSIBILITIES


Last Updated Date: 29 Sep 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 29 Sep 2021

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