1600 36TH ST Peru IL 61354-1230

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to Advance Auto Parts, (the “Property”) in Peru, IL, a city eighty (80) miles southwest of Chicago. This location was a build-to-suit for Advance Auto Parts, who recently extended their lease and now has over ten (10) years of term remaining. The tenant is currently operating on a NN+ lease with the Tenant being responsible for the roof and the Landlord’s only responsibility being the structure of the property. Advance Auto Parts has three (3), five (5) year options remaining with a 6.13% rent increase in the first option and 7.50% increases at the beginning of each of the following options. Advance Auto Parts sits along 36th Street at the signalized corner of N Illinois 251, the major north-south thoroughfare which runs through the entirety of Peru and boasts 15,500 vehicles per day. In addition to the excellent visibility along I-251, Advance Auto Parts benefits from tremendous accessibility, as it is located just over one (1) mile from exit 75 of I-80, home to 27,000 VPD. Advance Auto Parts is a Fortune 500 company and one of the leading American automotive aftermarket parts providers that serves both the professional installer and do it yourself customers. As of December 31, 2022, Advance operated 4,770 stores and reported Full Year 2022 net sales of $11.2 billion, up 1.4% from 2021.

Recently Extended Lease – This location was a build-to-suit for Advance Auto Parts, who recently extended their lease and now has over ten (10+) years of term remaining. The tenant is currently operating on a NN+ lease with the Tenant being responsible for the roof and the Landlord’s only responsibility being the structure of the property. Advance Auto Parts has three (3), five (5) year options remaining with a 6.13% rent increase in the first option and 7.50% increases at the beginning of each of the following options.

Ideal Location – The property sits along 36th Street (5,500 VPD) at the signalized corner of N Illinois 251, the major north-south thoroughfare which runs through the entirety of Peru and boasts 15,500 vehicles per day. In addition to the excellent visibility along I-251, Advance Auto Parts benefits from tremendous accessibility, as it is located just over one (1) mile from exit 75 of I-80, home to 27,000 VPD.

Busy Retail Corridor – Advance Auto Parts is shadow anchored by the 465,000 SF Peru Mall and is surrounded by a host of national retailers such as Walmart Supercenter, Target, The Home Depot, Big Lots, Hobby Lobby, Marshalls, Kohl’s, Dollar Tree, Rural King, Menards, Hy-Vee Grocery Store, O’Reilly Auto Parts, Sherwin Williams, Chipotle, Buffalo Wild Wings, Culver’s, Steak n’ Shake, and Starbucks further exemplifying the strength of the I-251 retail corridor and drawing more consumers to the area.