11055 Western Ave, Chicago, IL 60643
15,717 SF | Retail Building | Chicago, IL 60643 | $2,697,687 ($172/SF) | 6.70% Cap Rate
For Sale
Active
Asking Price $2,697,687
- Property Type
-
Retail
- Square Feet
- 15,717 SF
- Price / Square Foot
- $172
Listing Contacts
Randy Blankstein
Jimmy Goodman
Property Overview
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar Tree located in Chicago, Illinois. Dollar Tree recently signed a new 10-year lease for the subject property. The lease contains three 5-year renewal options with $0.50/SF rent increases at the start of each. Dollar Tree is an investment grade rated tenant with an S&P rating of BBB. The asset has received several capital improvements in preparation for occupancy including a newly sealed & striped parking lot, new parking lighting, updated fire sprinkler system, electrical systems, and an updated monument sign. The HVAC system was also replaced in 2018.
The 15,717 square-foot building benefits from its hard corner position along South Western Avenue which experiences over 27,900 vehicles per day. Additionally, the subject property is within proximity to Interstate 57 (145,000 VPD). The asset is in an affluent pocket of Chicago where the average household income is $122,642 within 1-mile. It is also a densely populated area with 449,479 people living in a 5-mile radius. Neighboring tenants include Fairplay Foods, NAPA Auto Parts, Meineke, PNC Bank, Buona Beef, U-Haul, and several others. Furthermore, Morgan Park Highschool (1,200+ Students) is located less than one mile east of the property. This is an urban-infill location with high barriers to entry for new tenants.
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.
The 15,717 square-foot building benefits from its hard corner position along South Western Avenue which experiences over 27,900 vehicles per day. Additionally, the subject property is within proximity to Interstate 57 (145,000 VPD). The asset is in an affluent pocket of Chicago where the average household income is $122,642 within 1-mile. It is also a densely populated area with 449,479 people living in a 5-mile radius. Neighboring tenants include Fairplay Foods, NAPA Auto Parts, Meineke, PNC Bank, Buona Beef, U-Haul, and several others. Furthermore, Morgan Park Highschool (1,200+ Students) is located less than one mile east of the property. This is an urban-infill location with high barriers to entry for new tenants.
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500 company and operates 15,115 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point variety chain under the Family Dollar banner.
Property Details
- Year Built/Renovated
- 2002/2023
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 52,708 SF
Highlights
- New 10-year lease
- Several recent capital improvements made including parking lot sealing & striping
- Affluent demographics – Average household income within 1-mile is $122,642
- $0.50/SF rent increases in each renewal option
- 449,479 people live within a 5-mile radius
- Proximity to Interstate 57 (145,000 VPD)
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