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Take 5 Oil Change Ground Lease, Cicero, IL

Take 5 Oil Change Ground Lease, Cicero, IL


Investment Summary

Price $1,087,000
Cap Rate 6.90%
NOI $75,000
Lease Term 15 years
Lease Type Absolute NNN ground lease, with tenant responsible for all taxes, insurance, and maintenance including roof, structure, and parking lot
Rental Increases 10% rental increases every five years during the initial term and each of the six (6) option periods
Year Built 2023
Building Size +/- 1,600 SF
Lot Size 0.48 acres (21,120 SF)
Status Available
Lead Brokers Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE
» New 15-year absolute NNN ground lease with 10% rental increases every five (5) years
» No landlord management, ideal for an out-of-area investor
» Operator is a successful multi-unit franchisee with a strong parent guaranty
» Take 5 Oil Change has expanded its total footprint to over 800 locations across the U.S. and Canada, with over 950 additional locations in the pipeline, providing a multi-year runway for growth
» Take 5 Oil Change is ranked in Entrepreneur Magazine’s 2022 list of the Fastest-Growing Franchises

TROPHY OUTPARCEL TAKE 5 OIL CHANGE IN IRREPLACEABLE INFILL CHICAGO LOCATION
» Trophy outparcel location within Hawthorne Works, a 284,000-square-foot shopping center in the heart of Cicero’s retail corridor
» Ideal access and visibility along South Cicero Avenue (51,800 AADT), one of the most heavily trafficked North-South thoroughfares in Cicero with cross access from West Cermak Road, providing excellent entry/exit to the property
» Surrounded by several major national retailers and traffic drivers including Walmart Supercenter, Target, Sam’s Club, The Home Depot, AMC, ALDI, Burlington, Harbor Freight Tools, and many more
» Access to an extremely robust customer base of 918,462 residents within a five-mile radius
» The average household income within five miles is projected to grow 18% over the next five years, which bodes well for both Take 5 Oil Change and the greater Cicero submarket
» 7.5 miles from Downtown Chicago, five miles from Midway International Airport, and 16 miles from O’Hare International Airport
» Chicago boasts a high number of cars owned per household (1.12) and percentage of homes with vehicles (72.5%), ensuring a consistent business and revenue stream

2023 CONSTRUCTION FEATURING LATEST TENANT PROTOTYPE
» High-quality 2023 construction featuring three (3) service bays
» Drive-thru oil change in less than five minutes, with the customer remaining in their vehicle during service

Property Description

» This Take 5 Oil Change is a trophy outparcel location within Hawthorne Works, a 284,000-square-foot shopping center in the heart of Cicero’s retail corridor
» The site provides a convenient second entry point on West Cermak Road, offering ideal accessibility
» The property is surrounded by several major national retailers and traffic drivers including Walmart Supercenter, Target, Sam’s Club, The Home Depot, AMC, ALDI, Burlington, Harbor Freight Tools, and many more
» Chicago boasts a high number of cars owned per household (1.12) and percentage of homes with vehicles (72.5%), ensuring a consistent business and revenue stream
» The site is supported by an extremely robust base of 918,462 residents within a five-mile radius
» The average household income within five miles is projected to grow 18% over the next five years, which bodes well for both Take 5 Oil Change and the greater Cicero submarket

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