Thorntons Ground Lease,
Cicero, IL Investment Summary
| Price | $4,100,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | |
| Rental Increases | 10% Rental Increases Every 5 Years |
| Year Built | Under Construction: 2016 |
| Building Size | 4,400 SF; 14 Fueling Stations |
| Lot Size | 1.4 Acres (60,984 SF) |
| Status | Sold |
| Lead Brokers | Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vince Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 |
Investment Highlights
ABSOLUTE NET GROUND LEASE, PROVIDING PASSIVE INVESTMENT
» 10% rental increases every five years throughout firm term and option periods
» With over $2.3 billion in annual sales, Thorntons was ranked 202nd in Forbes magazine’s annual list of “500 Largest Privately Held Companies”
THORNTONS HAS A LONG-STANDING OPERATION HISTORY SINCE 1987: OVER 28 YEARS OF SUCCESSFUL OPERATION
» Thorntons is committed to the site with recent 20-year lease extension and expansion
» Tenant providing extensive capital into the new prototype with expanding fueling and c-store
» Thorntons distributes its own fuel through a wholly-owned subsidiary, Thornton Transportation, providing an additional competitive advantage
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» South Cicero Avenue – 43,200 AADT
» Outparcel to regional shopping and entertainment center, featuring major national tenants such as AMC Theaters
» Menard’s outparcel location
CENTRAL CHICAGO MSA LOCATION WITH ROBUST DEMOGRAPHICS
» Nearly one million people in a five-mile radius
» Close proximity to Downtown Chicago and Midway International Airport
» Less than seven miles from Downtown Chicago
Click Here to Download Offering Memorandum
Property Description
SOLD
The property is located on South Cicero Avenue, with excellent access and visibility to 43,200 vehicles per day. The property is outparcel to Hawthorne Works, a regional shopping and entertainment center featuring major retailers like AMC Theatres, Fallas, Famsa, Dollar Tree, Rent-A-Center, Rainbow, Chipotle, Taco Bell, and Bank of America. Located in a dense retail corridor, the site is surrounded by several large shopping plazas, including Cicero Market Place, anchored by Target, Sam’s Club, Home Depot, and Food 4 Less, and including Ross, Payless, GameStop, and others. Other retailers near the property include Walmart Supercenter, Walgreens, Aldi, Dollar General, and Mattress Firm.
The property benefits from its close proximity to downtown Chicago, which is just over six miles away. Additionally, Chicago Midway International Airport, the second busiest airport in Illinois, is just over four miles from the property. Due to its convenient central location, the property is located in a very densely populated area; nearly one million people live within a five-mile radius of the site, providing an extremely large customer base for Thorntons.
