1230 W Spring St - Convenience Store FOR SALE


South Elgin, IL 60177
$1,460,000 USD
773-963-2637
1230 W Spring St, South Elgin, IL for Sale
$1,460,000 USD
Convenience Store - FOR SALE
1/3
null | 6% Cap Rate

1230 W Spring St
South Elgin, IL 60177


HIGHLIGHTS

  • Corp Lease with a Corp Tenant - Investment Grade Credit (S&P: A)
  • Long-Term Historical Occupancy – 26+ Years: Open and Operating Since 1999
  • Landlord-Favorable Lease - No Management Responsibility; True Absolute NNN Lease Terms
  • High Visibility at Signalized Corner: Surrounding Tenancy Includes McDonald’s, CVS, Walgreens, KinderCare, NAPA Auto
  • Low-Tax Kane County Location – Chicago MSA Acquisition Opportunity

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a ground lease interest in the 7-Eleven asset located in South Elgin, Illinois (“The Property”). The Property consists of a 2,940-square-foot gas station and convenience store on a 1.29-acre parcel of land. The Property is leased by 7-Eleven, which is operating under a newly extended, absolute NNN ground lease with 10 years remaining. The lease also features 10% rental escalations every five years, providing investors with a significant hedge against inflation. See Lease Abstract for full details.

FOR SALE DETAILS

PRICE

$1,460,000 USD

PRICE/SF

$553 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven GL (Not Cook County)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.29 AC

LAND SF

56,192 SF

ZONING

-

APN/PARCEL ID

06-34-105-013

ASK ABOUT THIS PROPERTY

Isaiah HarfNorthmarqMore Info
773-963-2637

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Isaiah HarfNorthmarqMore Info
773-963-2637

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.