ASCEND Wellness | 9820 S Ridgeland Ave
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ASCEND Wellness 9820 S Ridgeland Ave
8,925 SF Retail Building Chicago Ridge, IL 60415 $9,474,500 ($1,062/SF) 8.65% Cap Rate
Investment Highlights
- Corporate Guaranty from Publicly Traded Company
- Absolute NNN Lease
- Highly Trafficked Retail Corridor
- New 15-Year Lease
- Aggressively Growing Cash Flow
- New 2021 Property Renovation
Executive Summary
Northmarq on behalf of Ownership as its exclusive advisor, is pleased to offer for sale, the 100% fee simple interest in the single-tenant retail property located at 9820 South Ridgeland Avenue, in Chicago Ridge, Illinois (the “Property”). An outparcel of Chicago Ridge Mall that underwent a full renovation in 2021, the Property is 100% occupied and guaranteed by ASCEND Wellness (OTCQX: AAWH), serving as one of ASCEND’s ten cannabis dispensaries in Illinois among 39 retail operations across seven states. Positioned within metro Chicago, this Offering represents an opportunity to invest in what has quickly become the fastest-growing industry in the U.S. in terms of job growth and among the fastest-growing in terms of sales – cannabis. See Lease Abstract for full details.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,925 SF
Building Class
B
Year Built/Renovated
1988/2021
Price
$9,474,500
Price Per SF
$1,062
Cap Rate
8.65%
NOI
$819,545
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.95 AC
Parking
46 Spaces (5.15 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signalized Intersection
Walk Score ®
Very Walkable (77)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 24-07-216-020-0000 | Improvements Assessment | $138,960 |
| Land Assessment | $104,008 | Total Assessment | $242,968 |
PROPERTY TAXES
Parcel Number
24-07-216-020-0000
Land Assessment
$104,008
Improvements Assessment
$138,960
Total Assessment
$242,968
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ASCEND Wellness | 9820 S Ridgeland Ave
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