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Views: 162 Updated: 10.05.24 Posted: 09.13.23 Status: Inactive 10.05.24

Summary

Price $5,900,000
Built/Renov 1950
Tenant 3D Baking
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 23,442
Lease Start 01-01-2023
#Units 2
Price/SF $251.69
Expiration 12-31-2034
Tenant Type Industrial
NOI $413,000
R. Term 10.2
Ownership Fee Simple
Rent/SF $17.62
Increases 12.0%/5/yrs
Pop 5Mi 95,636
Lot/AC 1.16
Options 1/5yrs/12%
AHHI 5Mi $324,617

Lease Highlights

  • 3D baking has been operating in this location for 20+ years
  • Tenant currently has 11+ years remaining on the current lease term with 1 (5-year) option to extend
  • Lease features a 12% rental increase every 5 years
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by 3D Baking Company

Location Description

This 23,442 square foot 3D Baking is situated on a 1.16 acre parcel along West George Street. The site benefits from its position with immediate access to Interstate 90/Interstate 94, which experiences 300,000 vehicles per day and leads directly to downtown Chicago. The subject property is located blocks from Riverpoint Plaza and Riverpoint Center, two of the area’s primary retail corridors...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: 3D Baking
  • Guarantor:Corporate
  • Company:3D Baking Company
  • # Units:2
  • Stock:Private

About Tenant

3D Baking is a privately owned company and baking/processing facility. Its leadership has extensive experience, helping forge and setting up operations for nearly 80 bakeries nationally. 3D Baking...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 52,117 607,925 1,292,854
2023 Total Population : 52,165 612,450 1,291,336
2023 Employed Civilian Pop : 34,731 392,449 763,917
2023 Total Businesses : 1,599 17,835 52,126
2023 Average Household Income : $ 146,295 $ 142,442 $ 131,084
2023 Total Consumer Spending : $ 2979 M $ 34061 M $ 66135 M
2023 Median Age : 34 34 35
2023 Total Households : 23,818 279,298 588,153
2023 Pop Age 25+: Bachelor's Degree : 14,984 167,049 309,503
2023 Average Home Value : $ 560,831 $ 561,331 $ 507,938
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
I- 90 N California Ave 2009 299,900 0.10 mi
W Diversey Ave I- 90 2006 17,300 0.10 mi
West Diversey Avenue I- 94 2018 16,000 0.10 mi
West Diversey Avenue W Diversey Pkwy 2018 16,700 0.11 mi
North California Avenue W George St 2018 12,500 0.12 mi
Kennedy Expressway N Avondale Ave 2019 110,700 0.13 mi
N California Ave W Diversey Ave 2006 10,600 0.14 mi
Alley N Mozart St 2002 10,400 0.15 mi
W Diversey Ave 2018 8,300 0.15 mi
I- 94 W Diversey Ave 2002 6,900 0.15 mi

Listing Broker

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