SALE PRICE: $2,630,000
CAP RATE: 6.56%
- DENSE RETAIL SITE — New construction at the intersections of E. Central Rd., Rand Rd. & Mt. Prospect Rd. (52,650 combined ADT). Across from Mt. Prospect Plaza (300K+ SF; anchored by ALDI, Marshalls, Petco, etc.) and Walmart. Less than 2 miles from recently redeveloped Randhurst Village (1M+ SF open-air, power & lifestyle center with national & regional retailers including the NW suburb’s only Costco, a state-of-the-art cinema, office space, a 140-room hotel & a variety of restaurants).
- AFFLUENT, EXPANSIVE TRADE AREA — Over 122,000 households & 311,500 people, with an average household income of $91K+ and total household expenditure of $8.1B+, within 5 miles of the property. Mount Prospect is part of the 2nd-most populous county in the U.S. & is included in the Chicago MSA, with a population of nearly 10M people.
- ESTABLISHED TENANT — Mattress Firm is a national tenant with the largest geographic footprint in the U.S (3,600+ locations in 49 states) among multi-brand mattress specialty retailers.
- ATTRACTIVE INVESTMENT — Corporate-guaranteed lease with fixed 10% rent increases and minimal landlord responsibilities.
- IDEAL LOCATION — Mount Prospect is a prime location for business with Kensington Business Center (300-AC, 3.25M SF; home to numerous high-profile corporations) located just north. Major redevelopments near the site further demonstrate the area’s growth & economic stability. Property site is 22 miles NW of downtown Chicago (3rd-most populous U.S. city), 6 miles from O’Hare International Airport (nearly 77M passengers in 2015) & offers nearby access to major highways including I-90, I-290 & I-294.
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