Dollar General | New Lease Extension

Marcus & Millichap is pleased to exclusively offer a double net Leased Dollar General property, with a new lease extension commencing on February 1, 2024. The extension spans a new 5-year term, with the provision of two additional 5-year options thereafter. Notably, the lease terms offer an attractive feature of 15% rental increases during the option periods, ensuring favorable returns. The lease is guaranteed by DG Retail, LLC, identified as a successor-in-interest to Dolgencorp, Inc., providing a solid foundation for investment with minimal landlord responsibilities.
Situated at a prime hard corner location, the property boasts ample parking space and significant traffic visibility, with 15,100 vehicles passing along Sheridan Road daily. Its strategic placement is underscored by 400 feet of combined frontage along Sheridan Road and Shiloh Boulevard, offering multiple points of ingress/egress and a large parking lot accommodating approximately 50 surface spaces.
The site's long operating history since 2008 reflects a robust commitment to the location, further bolstered by strong surrounding drivers such as a large hospital, Metra station, and numerous parks. Notably, the property is a mere 0.2 miles from the Midwestern Regional Medical Center, featuring a 95-bed hospital and outpatient oncology facility addition complete with a helipad. Additionally, it sits 0.6 miles from the Zion Metra Station, a key transportation hub along the UP-N Line connecting Kenosha, Wisconsin, to Downtown Chicago, which witnessed 4.1 million passengers in 2023. Further enhancing its appeal, the property lies within close proximity to recreational amenities, including the Shiloh Golf Course, Zion Park District Sports Arena and Fitness Studio, Port Shiloh Pool, and various courts for tennis, basketball, and volleyball.
The market's vibrancy is underscored by the entrance of new national tenants like Casey’s and Popeyes, signaling growing commercial activity in the area. Situated within the Chicago Metropolitan Statistical Area (MSA), the property benefits from a highly populated catchment, with 76,873 residents living within a five-mile radius and 52,000 employees working within the same radius, ensuring sustained demand and potential for growth.