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BrightPath 6701-6709 N Northwest Hwy 18,200 SF 100% Leased Retail Building Chicago, IL 60631 $10,407,000 ($571.81/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-year BrightPath lease featuring 10% rental increases every 5 years
- Strong early enrollments (speak with Agent for more details)
- Given the mixed-use designation, the property is assessed at 10% of its fair market value versus 25% for a traditional retail property
- Full corporate guaranty from BrightPath’s parent company – Busy Bees
- Mixed-use property with three leased apartment units providing landlord with additional income
- Dense residential trade area – 169,641 residents within a 3-mile radius of the subject property
EXECUTIVE SUMMARY
A premier mixed-use investment opportunity featuring a BrightPath school on a 20-year lease with 10% rental increases every 5 years throughout the base term and options and three apartment units on the second floor providing additional income. The subject property is located in Edison Park – an affluent Chicago submarket boasting $134,000 average household incomes within a 1-mile radius.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
18,200 SF
Building Class
C
Year Built
2009
Price
$10,407,000
Price Per SF
$571.81
Cap Rate
7%
NOI
$728,475
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.61
Lot Size
0.26 AC
Zoning
B3-2
Parking
4 Spaces (0.22 Spaces per 1,000 SF Leased)
Frontage
101’ on N Northwest Hwy
AMENITIES
- Bus Line
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $454,038 | |
| Land Assessment | $70,138 | Total Assessment | $524,176 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$70,138
Improvements Assessment
$454,038
Total Assessment
$524,176
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CPP CRE ILLINOIS, LLC
BrightPath | 6701-6709 N Northwest Hwy
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