Chicago Cat (Heartland Vet Partners) - Chicago, IL

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,200 square foot freestanding, single-tenant veterinary clinic located 5301 W Devon Ave in Chicago, IL (“Property” or “Asset”). The Asset is 100% leased to Heartland Veterinary Partners (“Heartland Veterinary Partners” or “Tenant”), who is doing business as Chicago Cat Clinic, with approximately 1.0 year remaining on the current lease term. The Asset features one remaining three-year renewal option with a 3.0% annual rent increase in the lease option.

Chicago, a metropolis of 2.7 million, is renowned for its architecture, culture, and economic prowess, boasting 33 Fortune 500 companies and top-ranked educational institutions. Located just 12 miles northwest of downtown Chicago, the Property is well positioned off the Edgebrook Metro Station, which provides direct access via train to downtown Chicago. Situated along West Devon Avenue off the intersection of North Caldwell Avenue and North Central Avenue, the Property also has visibility to approximately 69,600 vehicles per day. Coupled with a population of over 800,000 residents and an affluent average household income of $182,000 within a 5-mile and 1-mile radius of the site, respectively, the Property benefits a location within a dense residential corridor where 48.6% of the population owns a pet. The Property is proximate to Village Crossing Shopping Center and Pointe Plaza Shopping Center, which have a combined 13.1 million annual visitors and are ranked in the 93rd and 97th percentile of shopping centers in the nation, respectively (per Placer.ai).

This unique opportunity allows investors the ability to acquire an infill retail asset located in a fundamentally strong and high-growth market. The asset offers secure, long-term cash flow backed by a top veterinary operator with 350+ locations.