Description

Property Address: 6199 N Lincoln Ave, Chicago, IL 60659

Property Size: 125,680 SF

Occupancy: 98%

Year Built: 1950 / 2002 / 2026

WALT: 3.9 Years

Year 1 NOI: +/- $2,270,000

...

Attributes

Building area net

11,676 m²

Occupancy

98.6%

Year built

1950

New 10-Year Lease with Trader Joe’s – America’s Top Preferred Grocery Store
Brand new Trader Joe’s lease across 13,266 SF
Limited full-service grocery competition in the immediate trade area, positioning Trader Joe’s to fill a grocery void
Stable & Diverse Cash Flows Backed by National Credit Tenancy
Approximately 95% of in-place gross rent and GLA stemming from national tenants, with 70% coming from credit tenancy
Ideal diversification of grocery, F&B, health & beauty, discount, and medical retailers with no individual tenant making up more than 20% of income
High-Performing Tenant Roster
Ross ranked in top 3% in state (#3 most trafficked of 82) – visits up 9% YOY
Adjacent shadow Home Depot draws 1.2M visits annually and is the #2 most trafficked Home Depot in the state
Famous Footwear ranked #1 most trafficked in state
Strategic Positioning with Dense Urban Infill Demographics
Over 28,000 VPD travel down Lincoln Ave – one of the most prominent and heavily trafficked thoroughfares on Chicago’s North Side
Population of over 389K in 3-mile radius, growing to 900K in a 5-mile radius
Trade area AHHI of $118K and $19.5B in consumer buying power