1610 Walnut Ave - Convenience Store FOR SALE


Hanover Park, IL 60133
$927,273 USD
847-562-0003
1610 Walnut Ave, Hanover Park, IL for Sale
$927,273 USD
Convenience Store - FOR SALE
1/4
null | 5.5% Cap Rate

1610 Walnut Ave
Hanover Park, IL 60133


HIGHLIGHTS

  • Positioned within the Chicago MSA
  • Low absolute rent ($51,000)
  • Recent 10-year lease extension through December 2034
  • Operating history since 1999
  • Affluent area – Six figure average household income within five miles ($119,836)
  • Located just off Barrington Road (28,500 VPD)

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased 7-Eleven property positioned within the Chicago MSA in Hanover Park, Illinois. 7-Eleven recently executed a new 10-year lease extension through December 2034. 7-Eleven has an established operating history at this location since 1999. The lease is triple net which presents no landlord responsibilities. There are 10% rental escalations every five years throughout the primary term and two 5-year renewal options. 7-Eleven is an investment grade tenant, rated “A” by Standard & Poor’s. This deal also provides a low absolute rent of $51,000. The 2,542 square-foot building benefits from its position just off Barrington Road which experiences over 28,500 vehicles per day. It is also located within close proximity to two primary thoroughfares, Irving Park Road (34,600 VPD) & the Elgin-O’Hare Expressway (69,000 VPD). Additionally, the 7-Eleven is shadow anchored by Hanover Square shopping center hosting a variety of tenants. Nearby retailers include Menards, Starbucks, Harbor Freight, Bank of America, McDonald’s, Tony’s Fresh Market, LA Fitness, Walmart Supercenter, and several others. Within a five-mile radius of the subject asset, the population exceeds 268,000 affluent individuals earning an average household income of $119,836. 7-Eleven, Inc. is the premier name in the U.S. convenience-retailing industry. Based in Irving, Texas, 7-Eleven operates, franchises and/or licenses more than 13,000 stores in the U.S. and Canada. In addition to 7-Eleven stores, 7-Eleven, Inc. operates and franchises Speedway, Stripes, Laredo Taco Company and Raise the Roost Chicken and Biscuits locations. Known for its iconic brands such as Slurpee, Big Bite and Big Gulp, 7-Eleven has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef tacos. 7-Eleven offers customers industry-leading private brand products at outstanding value.

FOR SALE DETAILS

PRICE

$927,273 USD

PRICE/SF

$365 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,875 SF

ZONING

B-2, Hanover Park

APN/PARCEL ID

06-36-222-012-0000

ASK ABOUT THIS PROPERTY

Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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Randy BlanksteinThe Boulder GroupMore Info
847-562-0003

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