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Thorntons Ground Lease 2031 N Gary Ave

4,400 SF Retail Building Wheaton, IL 60187 $3,007,000 ($683/SF) 5.35% Cap Rate

Investment Highlights

  • New 20-Year Absolute NNN Corporate Ground Lease to Thorntons
  • Established Gas Station & Convenience Store Operator with 200+ Locations Across 6 States
  • Average Household Income of $182,091 within 1 Mile of Site
  • Scheduled 10% Rental Escalations Throughout Primary Term
  • Wholly-Owned Subsidiary of BP (NYSE:BP)
  • Approximately 25 Miles from Downtown Chicago

Executive Summary

A 4,400 square foot retail building and gas station with 8 fuel pumps. The improvements have been built and are owned by Tenant; only the land is for sale.
The subject property is centrally located with excellent access and visibility at the signalized hard corner Gary Avenue (16,100 AADT) and Geneva Road (26,900 AADT). The site benefits from robust demographics with a population of 240,319 within a 5 mile radius. Average household income within 1 mile of the site is $182,091 and average home value within that radius is $533,186.
Wheaton (population 53,970) is the county seat of DuPage County located approximately 25 miles west of Chicago within the Chicagoland Metropolitan Statistical Area. The Chicago-Naperville-Elgin Metropolitan Statistical Area, the third largest MSA in the U.S. with a population of more than 9.5 million, encompasses Burr Ridge, contributing to its robust economy. This region boasts one of the world’s largest and most diversified economies, with an annual gross regional product of more than $833 billion. No single industry employs more than 20% of the population, reflecting the area’s economic diversity.
The region is home to more than 400 major corporate headquarters and 31 Fortune 500 companies. Notable businesses based in the region include Boeing, Kraft Heinz, McDonald’s, Motorola, Discover Financial Services, United Continental Holdings, Walgreens, Aon, J.P. Morgan Chase, Caterpillar Inc., Abbot Laboratories, and more. The area is also home to a significant concentration of tech startups.
In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
4,400 SF
Building Class
B
Year Built
2025
Construction Status
Proposed
Price
$3,007,000
Price Per SF
$683
Cap Rate
5.35%
NOI
$160,875
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.60 AC
Zoning
C-3 - General Business District
Frontage
86 FT on North Gary Avenue

Nearby Major Retailers

Starbucks
PNC Bank
LA Fitness
Bank of America
Cross Fit Carol Stream
Jewel-Osco
U.S. Bank
Orangetheory Fitness
Chase Bank
Denny's

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
05-08-200-026
Land Assessment
$646,570
Improvements Assessment
$134,810
Total Assessment
$781,380
  • Listing ID: 33694746

  • Date on Market: 10/30/2024

  • Last Updated:

  • Address: 2031 N Gary Ave, Wheaton, IL 60187

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