422-550 Rollins Rd, Round Lake Beach, IL 60073
44,794 SF | Retail Building | Round Lake Beach, IL 60073 | $9,799,000 ($219/SF) | 8% Cap Rate
For Sale
Active
Asking Price $9,799,000
- Property Type
-
Retail
- Square Feet
- 44,794 SF
- Price / Square Foot
- $219
Listing Contacts
Patrick Luther
Matthew Mousavi
Property Overview
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a net leased, corporate signed, LA Fitness investment property located in Round Lake Beach, IL (Chicago MSA). The tenant, Fitness International, LLC, recently signed a 12-year lease term extension with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in August 2030, as well as 10% increases at the beginning of each option period, growing NOI and hedging against inflation. Additionally, as part of the extension an additional $1.6M investment will be made into the space. The lease features minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Property Details
- Class
- B
- Year Built
- 2008
- Stories
- 1
- Property Subtype
- Freestanding, Other Health Care
- Lot Size (sq. ft)
- 142,441 SF
Highlights
- Brand New 12-Year Lease Extension | Corporate Signature | Scheduled Rental Increases | 200 BPS Higher Than Latest Comp
- Net Leased | Fee Simple Ownership | Minimal Landlord Responsibilities
- Rollins Crossings (1.6M+ Visitors) | Adjacent to High Performing Meijer | Dense Retail Corridor | National/Credit Tenant Presence
- Densification Through Upside Opportunity | Adjacent 3.37 Acre Land Pad Available
- Chicago MSA | Strong Demographics in 5-Mile Trade Area | Six Figure Incomes
All available spaces
- Space
- 1st Fl-Ste 200
- Size
- 7,200 SF
- Space
- 1st Fl-Ste 510B
- Size
- 3,499 SF
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