Thornton's Ground Lease | 10 E Maple Ave
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Thornton's Ground Lease 10 E Maple Ave
4,400 SF Retail Building Mundelein, IL 60060 $2,336,000 ($531/SF) 5.35% Cap Rate
Investment Highlights
- New 20-Year Absolute NNN Corporate Ground Lease to Thorntons
- No Landlord Maintenance Responsibilities
- Neighbors Innovation Office Park – 1.2 Million Square Foot Office Park
- Scheduled 10% Rental Escalations Throughout Primary Term
- Established Gas Station & Convenience Store Operator with 200+ Locations Across 6 States
- Chicagoland MSA Location - Population of 9.5 Million and Gross Regional Product of $833 Billion
Executive Summary
The subject property is centrally located with excellent access and visibility at the signalized hard corner of East Maple Avenue (11,600 AADT) and North Lake Street (18,300 AADT). The site benefits from robust demographics with a population of 111,158, average household income of $171,980, and average home value of $455,768 within a 5 mile radius.
The property benefits from a prominent location in close proximity to shopping centers, employers, and schools. The property is located approximately 2 miles from University of St Mary of the Lake, the largest Roman Catholic seminary in the U.S. with a student body of approximately 600. Advocate Condell Medical Center, a 273-bed hospital with a staff of more than 700, is located approximately 3 miles from the site. The site additionally benefits from close proximity to Innovation Park, a 1.2 million square foot office park housing major employers including Intermatic, Brightstar US, Valent Biosciences, Medline Industries, USG Corporation, and more.
In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307
The property benefits from a prominent location in close proximity to shopping centers, employers, and schools. The property is located approximately 2 miles from University of St Mary of the Lake, the largest Roman Catholic seminary in the U.S. with a student body of approximately 600. Advocate Condell Medical Center, a 273-bed hospital with a staff of more than 700, is located approximately 3 miles from the site. The site additionally benefits from close proximity to Innovation Park, a 1.2 million square foot office park housing major employers including Intermatic, Brightstar US, Valent Biosciences, Medline Industries, USG Corporation, and more.
In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Service Station
Building Size
4,400 SF
Year Built
2024
Price
$2,336,000
Price Per SF
$531
Cap Rate
5.35%
NOI
$125,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.43 AC
Zoning
C5-C - Commercial Corridor
Parking
23 Spaces (5.23 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Dedicated Turn Lane
- Fenced Lot
- Signalized Intersection
- Monument Signage
Walk Score ®
Very Walkable (70)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $116,935 | Total Assessment | $116,935 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$116,935
Improvements Assessment
$0
Total Assessment
$116,935
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Thornton's Ground Lease | 10 E Maple Ave
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