About This Restaurant
Investment Highlights
Positioned within the Chicago MSA ? Ranked #3 in the United States for population size New construction Located along University Parkway (8,100 VPD) 5% rental escalations every 5 years (Primary term & Options) NNN ? no landlord responsibilities Less than two miles east of Governors State University (4,400+ students)
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar General property positioned within the Chicago MSA in University Park, Illinois. The property was constructed in 2023 specifically for Dollar General. The subject lease commenced in August 2023 and features a 15-year term. Additionally, This lease features 5% rental escalations every ?ve years throughout the primary term and four 5-year renewal options. The lease is triple net which presents no landlord responsibilities and is guaranteed by Dollar General Corporation.The 10,640 square-foot building benefits from its position along University Parkway which connects towns Crete and University Park to Interstate 57 (68,600 VPD). The property is located less than two miles east of Governors State University (GSU), which has over 4,400 students enrolled. Interstate 57 is located immediately west of GSU and features a dense industrial presence that drives daytime population. Notable tenants occupying the corridor include Amazon, Clorox, Georgia Pacific, DHL, DOT Foods, and several others. Furthermore, there are more than 96,000 residents residing within a five-mile radius of the location, with an average household income of $78,162. University Park is located roughly 40 miles south of Chicago. Dollar General Corporation is an American chain of variety stores headquartered in Goodlettsville, Tennessee, which has been in expansion mode for several years. Dollar General offers products that are frequently used and replenished?such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares, and seasonal items?at low, everyday prices in convenient neighborhood locations. A leading discount retailer, Dollar General operates more than 18,130 stores in 46 states and has plans for significant future growth.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Retail
- Building Size 10,640
- Year Built 2023
- Price 1,816,667
- Price Per SF 171
- Cap Rate 6.30
- NOI 114,450
- Tenancy Single
- Building Height 1 Story
Date Created: | 2024-07-16 04:13:39 | Last Updated: | 2024-07-16 04:13:39 |
Address: | 537 University Pkwy , University Park, Illinois, 60484 |