Circle K - Chicago IL (Avondale)_Property for Sale
Circle K - Chicago IL (Avondale)_Property for Sale
2760 W Belmont Ave, Chicago, IL, 60618, US

Circle K - Chicago IL (Avondale)

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire 2760 W Belmont Ave, Chicago, IL - a freestanding, newly constructed Circle K convenience store (the “Property”) featuring a NN lease with 10 years of initial primary term and 7.00% rental increases every 5-years.


The Property is strategically located at the signalized three-way intersection of heavily-trafficked Belmont Ave, California Ave and Elston Ave (~40,000 combined vehicles per day). The Property sits just off Interstate 90 (~262,000 vehicles per day) in the booming Avondale residential neighborhood (~615,000 population within a 3-mile radius) on the city’s northwest side.


This new store is part of Circle K’s new “urban concept” strategy for convenience stores within dense residential areas of the city to benefit from strong visibility and foot traffic.


Investors have the unique opportunity to acquire a newly constructed hard-corner asset with 10-years of primary term, contractual rent growth and committed tenancy in a strong, infill Chicago submarket.

...

Attributes

Asking Price
€2,745,000
Building area Gross
279 m²
Occupancy
100.00%
Year built
2023
Cap Rate
5.75%
NOI
€158,000

Media

Investment Highlights

  • DENSE, INFILL CHICAGO LOCATION WITH 1,283,000 RESIDENTS IN A 5-MILE RADIUS
  • HARD CORNER AND SIGNALIZED INTERSECTION WITH 40,000+ VPD AND DIRECTLY OFF THE INTERSTATE (262,000+ VPD)
  • ATTRACTIVE RENT INCREASES OF 7.00% EVERY 5-YEARS
  • NEW CONSTRUCTION 2023 BUILD-TO-SUIT FOR CIRCLE K'S NEWEST "URBAN CONCEPT" STORES
  • FRESH NN LEASE WITH MINIMAL LANDLORD RESPONSIBILITES AND 10-YEAR TERM
  • AVONDALE NEIGHBORHOOD ON THE CITY'S NORTH SIDE RANKED 16TH "COOLEST" NEIGHBORHOOD IN THE WORLD IN 2022 AND EXPERIENCING STRONG GROWTH
Circle K - Chicago IL (Avondale) 4_Property for Sale
Circle K - Chicago IL (Avondale) 4_Property for Sale

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Circle K - Chicago IL (Avondale) (0 Properties)

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Last updated
8 Aug 2023