Bank of America - Chicago, IL
250 West 83rd Street, Chicago, IL, 60620, US
₱199,383,000 | 372 sm
Asset description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,225 square foot freestanding, new construction single-tenant Starbucks located at 115 W Boughton Road in Bolingbrook, IL (“Property” or “Asset”).
The Asset is 100% leased to Starbucks Corporation (“Starbucks” or “Tenant”) with a brand new, rare 15.0-year primary lease term with various rent escalations and three, five-year renewal options. The Property opened in May 2024 as a build-to-suit for the tenant. The Property serves as a relief location for a nearby, overpopulated Starbucks.
Located 30 miles southwest of downtown Chicago, the Property sits at the busiest intersection in Bolingbrook on the signalized corner of W Boughton Road and Route 53, with high traffic counts of 66,000+ vehicles per day. The area is highly affluent with average household incomes of nearly $144,000 and more than 205,000 residents within a five-mile radius.
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Attributes
WAULT
15 years
Asking price
₱182,553,000
Cap rate
5.75%
NOI
₱10,497,000
Year built
2024
Building area net
207 sm
Media
Investment highlights
- 2024 build-to-suit relief location opened in May 2024
- Rare 15-year Corporate Starbucks lease
- Located at the busiest intersection in Bolingbrook with direct access to 66,000+ VPD
- Incredible demand characteristics driven by a 5-mile AHHI of $144,000 and more than 205,000 residents
- Starbucks (S&P: ‘BBB+’) is the world’s largest specialty coffee retailer (35,000+ locations)
- In between two major retail hubs in Bolingbrook with Promenade Bolingbrook, Maple Park Place, and Two Rivers Plaza generating more than 7.6 million combined visitors annually
Contact brokers
Starbucks - Bolingbrook, IL (0 Properties)
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Last updated
Jun 6, 2024
