La Petite Academy | 2345 S Route 59
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La Petite Academy 2345 S Route 59
9,960 SF Retail Building Plainfield, IL 60586 $3,209,637 ($322/SF) 6.35% Cap Rate
Investment Highlights
- Leading Parent Corporation
- NNN Lease with Rent Growth
- Perfectly Positioned - Between Several Large Suburban Neighborhoods in Top 3 MSA (Chicago)
- Strong Operator - More than 450 Locations
- Commitment to Site - Early Extension
- Family-Oriented Market with Excellent Demographics
Executive Summary
Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in the land and building of a single-tenant childcare facility located in Plainfield, Illinois.
The Property consists of 1.03 acres and a one-story, 9,960-square-foot childcare facility that was built in 1999 to the exact specifications of the Tenant. Located near the intersection of Illinois Route 59 and Caton Farm Road, with more than 54,000 vehicles per day, the Property is conveniently positioned between several large suburban neighborhoods and employers, making it ideal for the use. Will County is the fourth most populous county in Illinois and Plainfield is the sixth fastest-growing community in Illinois, according to the 2020 U.S. Census. Additionally, Plainfield has the highest median household income ($130,614) in the state for population centers of more than 40,000 with approximately 174,000 residents in a five-mile radius and an average household income of more than $126,000 in a three-mile radius of the Property.
The Tenant is La Petite Academy, Inc. and the Operator is La Petite Academy. The Property was built in 1999 to grow La Petite's presence in the Chicago MSA. The Tenant has operated at this location since the building was constructed and is highly committed to the site evidenced most recently by executing an early 3-year lease extension, bringing their total commitment to over 10 years. Annual rent is $184,978 with annual increases throughout the primary term and options. The lease provides for a passive, Landlord-friendly expense structure with tenant maintaining the entire asset and reimbursing the Landlord for taxes.
In Association With: Tom Fritz - IL Lic. #471018602
The Property consists of 1.03 acres and a one-story, 9,960-square-foot childcare facility that was built in 1999 to the exact specifications of the Tenant. Located near the intersection of Illinois Route 59 and Caton Farm Road, with more than 54,000 vehicles per day, the Property is conveniently positioned between several large suburban neighborhoods and employers, making it ideal for the use. Will County is the fourth most populous county in Illinois and Plainfield is the sixth fastest-growing community in Illinois, according to the 2020 U.S. Census. Additionally, Plainfield has the highest median household income ($130,614) in the state for population centers of more than 40,000 with approximately 174,000 residents in a five-mile radius and an average household income of more than $126,000 in a three-mile radius of the Property.
The Tenant is La Petite Academy, Inc. and the Operator is La Petite Academy. The Property was built in 1999 to grow La Petite's presence in the Chicago MSA. The Tenant has operated at this location since the building was constructed and is highly committed to the site evidenced most recently by executing an early 3-year lease extension, bringing their total commitment to over 10 years. Annual rent is $184,978 with annual increases throughout the primary term and options. The lease provides for a passive, Landlord-friendly expense structure with tenant maintaining the entire asset and reimbursing the Landlord for taxes.
In Association With: Tom Fritz - IL Lic. #471018602
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Day Care Center
Building Size
9,960 SF
Building Class
C
Year Built
1999
Price
$3,209,637
Price Per SF
$322
Cap Rate
6.35%
NOI
$203,812
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.03 AC
Parking
32 Spaces (3.21 Spaces per 1,000 SF Leased)
Amenities
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 03-33-227-005 | Improvements Assessment | $280,200 |
| Land Assessment | $76,000 | Total Assessment | $356,200 |
PROPERTY TAXES
Parcel Number
03-33-227-005
Land Assessment
$76,000
Improvements Assessment
$280,200
Total Assessment
$356,200
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La Petite Academy | 2345 S Route 59
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