5950 Northwest Hwy | Crystal Lake, IL 60014
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5950 Northwest Hwy
Crystal Lake, IL 60014
Panera | Jamba Juice · Retail Property For Sale
Investment Highlights
- Dense, Affluent Suburban Chicago MSA Investment Opportunity
- Recent 10-Year Lease Extension with Rental Escalations from Panera
- Low Vacancy Rates & Growing Rents Create Strong Tenant Demand & Increase the Likelihood of Future Lease Renewals
- Outstanding Historical Occupancy w/ Industry Leading Fast Casual Tenant Mix
- Highly Passive Shopping Center Net Leases
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Panera | Jamba Juice Property located in Crystal Lake, Illinois (“The Property”). The Property is comprised of a two-tenant, 5,975-square-foot freestanding retail building on a 1.83-acre parcel of land. The Property is 100% occupied by Panera and Jamba Juice (“Jamba”) who have operated at the Property for more than 42 years combined. Additionally, Panera recently signed an early 10-year lease extension demonstrating the strength of the location as well as their long-term commitment to the Property.
See Lease Abstract for full details.
The Property is located in Crystal Lake, Illinois, a suburb roughly 50 miles northwest of downtown Chicago. Crystal Lake is part of the Chicago metropolitan area, the 3rd largest metro in the United States, with over 9.6 million residents.
See Lease Abstract for full details.
The Property is located in Crystal Lake, Illinois, a suburb roughly 50 miles northwest of downtown Chicago. Crystal Lake is part of the Chicago metropolitan area, the 3rd largest metro in the United States, with over 9.6 million residents.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,975 SF
Building Class
C
Year Built
1982
Price
$3,462,400
Price Per SF
$579
Cap Rate
6.75%
NOI
$233,712
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.07
Land Acres
1.83 AC
Parking
30 Spaces (5.02 Spaces per 1,000 SF Leased)
Frontage
475 FT on Northwest Hwy
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 19-04-351-013 | Improvements Assessment | $182,327 |
| Land Assessment | $111,753 | Total Assessment | $294,080 |
PROPERTY TAXES
Parcel Number
19-04-351-013
Land Assessment
$111,753
Improvements Assessment
$182,327
Total Assessment
$294,080
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