Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

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Property Description

JLL on behalf of “The Seller”, is pleased to offer for sale the fee-simple interest in a 6,000 square foot single-tenant auto-service building at 1267 Elmhurst Road (the “Property”, “Asset”) in Des Plaines, IL, featuring a corporate-backed Pep Boys lease (the “Tenant”, “Pep Boys”) through May 2028. With over 40,000 vehicles per day along Elmhurst Road, a premier driving route with direct access to Interstate 90 (150,000 VPD) to the south, the Property sits in a strategic location for Pep Boys highly accessible to the heavy traffic. With nine auto-service bays and ample on-site parking, Pep Boys can serve the high-traffic corridor and dense surrounding population very efficiently, keeping the site consistently busy and serving as a top location for Pep Boys. In addition to being an active location, Pep Boys is paying just $13.00 PSF in net rent, nearly 50% below their national average store’s rent, resulting in low operational costs for Pep Boys relative to their national footprint and enforcing the strategic nature of the location. The Property represents a unique opportunity to acquire a single-tenant essential retail asset in a dense location in the Chicago MSA, offering a passive net lease structure that offers minimal landlord responsibility and surety of income from a corporately-backed Pep Boys lease. 


Investment Highlights

  • INDUSTRY-LEADING TENANCY POSITIONED FOR FUTURE GROWTH
  • CORPORATE GUARANTY WITH STRENGTH IN THE PARENT CREDIT BACKING
  • STRATEGIC OPERATING LOCATION FOR THE TENANT & BELOW-MARKET RENT
  • HIGH-TRAFFIC LOCATION IN A DENSE CHICAGO SUBURB NEAR THE INTERSTATE
Last Updated Date: 10 May 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 10 May 2021

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