300 Commons Dr, Chicago Ridge, IL 60415
113,918 SF | Retail Building | Chicago Ridge, IL 60415 | $32,425,000 ($285/SF) | 6.50% Cap Rate
For Sale
Active
Asking Price $32,425,000
- Property Type
-
Retail
- Square Feet
- 113,918 SF
- Price / Square Foot
- $285
Listing Contacts
Patrick Luther
Matthew Mousavi
Dan Elliot
Sean Lutz
Property Overview
SRS National Net lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in The Home Depot, a corporate guaranteed, investment grade offering located in Chicago Ridge, IL, in the highly productive, Commons of Chicago Ridge, which generates over 6 million annual visitors. The Tenant recently exercised their second of six option periods, providing firm term through January 2030. The lease features $1.00 PSF rental increases at the beginning of each option period, growing NOI and hedging against inflation. The lease is guaranteed by the corporate entity (NYSE: HD / S&P: A) and features limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Additionally, this is one of the most visited Home Depots in the state of Illinois as it is ranked in the top 15 out of 74 locations in the state.
Property Details
- Year Built
- 1998
- Stories
- 1
- Property Subtype
- Freestanding, Storefront, Distribution
- Lot Size (sq. ft)
- 439,085 SF
Highlights
- Investment Grade Credit (S&P: A) | Top Performing Store |Long Term Tenant | Well-Known & Established Brand |Recently Exercised Option
- Limited Landlord Responsibilities | Fee Simple Ownership | In-Place Roof Warranty | Ideal Low Management Investment For a Passive Investor
- Main Retail Corridor | Anchor to Commons of Chicago Ridge |Adjacent to Regional Mall
- Signalized, Hard Corner Intersection | Centralized Location | Chicago MSA | Excellent Visibility & Access
- Direct Residential Consumer Base | Significant Surrounding Population Density
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].