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Views: 126 DOM: 98 Updated: 10.16.24 Posted: 08.15.24 Status: Active

Summary

Price $9,799,000
Built/Renov 2008
Tenant LA Fitness
Cap Rate 8.00%
Lease Type Double NN
Guarantor Corp Rated
Size/SF 44,794
Lease Start 08-01-2024
#Units 800
Price/SF $218.76
Expiration 07-31-2036
Tenant Type Sport/Fitness
NOI $783,895
R. Term 11.8
Ownership Fee Simple
Rent/SF $17.50
Increases 10.0%/5/yrs
Pop 5Mi 146,820
Lot/AC 5.19
Options 2/5yrs/10%
AHHI 5Mi $125,358

Lease Highlights

  • Brand-new 12-year lease with 2 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Top 5 ranked location in Illinois for the brand (per Creditntell)
  • Minimal landlord responsibilities 
  • Corporate guaranteed lease

Location Description

LA Fitness is strategically located on E Rollins Rd, a major retail thoroughfare with access to 28,200 vehicles passing by daily. The property is a major tenant within Rollins Crossing, a heavily trafficked community shopping center that attracts over 1.6 million visitors annually (per Placer.ai). The center includes other well-known national tenants, including Petco, Harbor Freight, and more....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Fitness International, LLC (dba LA Fitness) is one of the fastest-growing health club chains in the U.S . Founded in 1984 in Los Angeles, CA, today they operate under the brand names LA...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 12,109 70,528 140,380
2024 Total Population : 12,494 72,650 144,445
2024 Employed Civilian Pop : 6,556 37,942 75,649
2024 Total Businesses : 305 1,550 3,348
2024 Average Household Income : $ 111,356 $ 118,466 $ 129,953
2024 Total Consumer Spending : $ 383 M $ 2612 M $ 5855 M
2024 Median Age : 36 37 39
2024 Total Households : 3,915 25,131 51,768
2024 Pop Age 25+: Bachelor's Degree : 1,215 9,866 25,378
2024 Average Home Value : $ 239,874 $ 266,503 $ 297,774
*ESRI data is presented for informational purposes only

Listing Broker

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