507 Woodlawn Ave, La Grange Park, IL 60526
46,637 SF | Retail Building | La Grange Park, IL 60526 | $9,328,000 ($200/SF) | 5.50% Cap Rate
For Sale
Active
Asking Price $9,328,000
- Property Type
-
Retail
- Square Feet
- 46,637 SF
- Price / Square Foot
- $200
Listing Contacts
Adrian Mendoza
Sean Sharko
Austin Weisenbeck
- Property Info
Property Overview
Extremely Rare 20-Year Lease Extension Through May 2044 with Chicagoland’s #1 Grocer
-Jewel has Continuously Operated at this Location Since 1964 (Successful 60 Year History)
-High Performing Grocer with Exceptional Store Sales
-Tenant will be Investing into their Space in Addition to Updating the Parking Lot & Landscaping
-Jewel-Osco Features 188 Locations in Chicagoland and is a Wholly Owned Subsidiary of Albertsons, Inc.
Excellent Real Estate and Operating Fundamentals
-Tenant is Paying a Modest Rental Rate | Ideal Rent-to-Sales Ratio
-Lease Features Rental Increases Every Five Years – Strong Hedge Against Inflation
-Infill Location with High Barriers to Entry and Virtually Zero Available Land to Develop
-Freestanding Location | Most Jewel-Osco Stores Operate In-line as Part of Shopping Centers and Only Feature 10-Year Extensions
Surrounded by Affluent Demographics and High Population Density
-Average Household Income Exceeds $142,000 within a One Mile Radius
-Population Exceeds 327,000 People Living within a Five Mile Radius
-Less than One Mile from Downtown La Grange and the La Grange Street Metra Station Providing Direct Access to Downtown Chicago and Many Suburbs
-Located Near Many Large Multi-Family Complexes Including Homestead Apartments (Directly Behind Subject Property) – 366 Units, The Arboretum Villas at Plymouth Place – 59 Units, Uptown La Grange Apartments – 254 Units, and One North Beacon – 268 Units
-Jewel has Continuously Operated at this Location Since 1964 (Successful 60 Year History)
-High Performing Grocer with Exceptional Store Sales
-Tenant will be Investing into their Space in Addition to Updating the Parking Lot & Landscaping
-Jewel-Osco Features 188 Locations in Chicagoland and is a Wholly Owned Subsidiary of Albertsons, Inc.
Excellent Real Estate and Operating Fundamentals
-Tenant is Paying a Modest Rental Rate | Ideal Rent-to-Sales Ratio
-Lease Features Rental Increases Every Five Years – Strong Hedge Against Inflation
-Infill Location with High Barriers to Entry and Virtually Zero Available Land to Develop
-Freestanding Location | Most Jewel-Osco Stores Operate In-line as Part of Shopping Centers and Only Feature 10-Year Extensions
Surrounded by Affluent Demographics and High Population Density
-Average Household Income Exceeds $142,000 within a One Mile Radius
-Population Exceeds 327,000 People Living within a Five Mile Radius
-Less than One Mile from Downtown La Grange and the La Grange Street Metra Station Providing Direct Access to Downtown Chicago and Many Suburbs
-Located Near Many Large Multi-Family Complexes Including Homestead Apartments (Directly Behind Subject Property) – 366 Units, The Arboretum Villas at Plymouth Place – 59 Units, Uptown La Grange Apartments – 254 Units, and One North Beacon – 268 Units
Property Details
- Class
- B
- Year Built/Renovated
- 1964/2007
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 166,399 SF
Highlights
- Extremely Rare 20-Year Lease Extension Through May 2044 with Chicagoland’s #1 Grocer
- Jewel has Continuously Operated at this Location Since 1964 (Successful 60-Year History)
- High Performing Grocer with Exceptional Store Sales
- Tenant Will be Investing into their Space in Addition to Upgrading the Parking Lot and Landscaping
- Jewel-Osco Features 188 Locations in Chicagoland and is a Wholly Owned Subsidiary of Albertsons, Inc.
- Tenant is Paying a Modest Rental Rate | Ideal Rent to Sales Ratio
Nearby Properties
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