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Views: 171 DOM: 206 Updated: 10.22.24 Posted: 05.01.24 Status: Active

Summary

Price $2,136,000
Built/Renov 2024
Tenant Thorntons (GL)
Cap Rate 5.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,500
Lease Start 09-12-2023
#Units 215
Price/SF $388.36
Expiration 09-11-2043
Tenant Type Convenience/Gas
NOI $110,000
R. Term 18.9
Ownership Ground Lease
Rent/SF $20.00
Increases 10.0%/5/yrs
Pop 5Mi 135,341
Lot/AC 1.80
Options 6/5yrs/10%
AHHI 5Mi $150,864

Lease Highlights

  • Brand new 2024 construction
  • Thorntons has 19+ years remaining on the current ground lease term with 6 (5-year) options to extend
  • The lease features 10% rental increases every 5 years  throughout the initial term and option periods
  • Below market rent | Rent is 1/3 or new construction c-store average
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Thorntons is strategically located on Kingery Highway, a major north-south thoroughfare, with access to 46,150 vehicles passing by daily. The property is conveniently situated less than two miles from the I-55 interchange (145,272 VPD). Additionally, the area boasts well-known national tenants including Target, Dairy Queen, CVS Pharmacy, Red Roof, Denny’s, and more. Several housing complexes...

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Maps

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  • 5 Miles

Tenant

About Tenant

Thorntons, LLC (dba Thornton’s) is a leading independent chain of gas stations and convenience stores operating across multiple southern and midwestern states. Their locations typically feature...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,979 41,048 137,822
2023 Total Population : 7,929 41,488 139,419
2023 Employed Civilian Pop : 4,000 22,173 73,408
2023 Total Businesses : 252 1,950 4,734
2023 Average Household Income : $ 145,453 $ 155,203 $ 152,845
2023 Total Consumer Spending : $ 388 M $ 2201 M $ 7236 M
2023 Median Age : 39 48 46
2023 Total Households : 3,123 16,820 56,016
2023 Pop Age 25+: Bachelor's Degree : 1,596 10,294 32,930
2023 Average Home Value : $ 487,731 $ 479,505 $ 476,255
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Rte 83 Valley View Dr 2013 32,800 0.03 mi
IL 83 2021 28,700 0.03 mi
State Rte 83 Kingery Hwy 2013 24,100 0.24 mi
91st St Skyline Dr 2012 5,450 0.27 mi
Kingery Highway 2019 31,400 0.35 mi
S Madison St 90th St 2012 2,850 0.49 mi
Clarendon Hills Rd Terry Trl 2012 3,350 0.52 mi
Clarendon Hills Rd Kingery Quarter 2002 4,400 0.55 mi
S Jackson St 94th Pl 2012 450 0.55 mi
91st St Tim Ct 2012 5,450 0.56 mi

Listing Broker

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