7-Eleven Corporate NNN Retail Condo (Presently Dark)
Retail | 2,518 SF
Marketing description
SVN is pleased to present the exclusively listed Single-Tenant NNN Corporate leased 7-Eleven property presently dark, a street-level, 2,518 square feet condo unit. Located at the lighted intersection of Monroe and Morgan. The property is located in Chicago’s West Loop and is adjacent to the hot Fulton Market area. The storefront is located at the base of the 101-unit 950 Monroe condo building. Two (2) interior parking spaces (P-19 & P-20) come with the property. 7-Eleven pays rent for these two parking spaces.
7-Eleven signed a 15-year NNN lease starting in 2005 with 3 five-year options to renew. In 2020, 7-Eleven entered into negotiations with the present owner to exercise its first 5-year option. The Tenant in 2024 exercised its 2nd 5-year extension, which brings the lease term to May 31, 2030. In September of 2024, 7-Eleven decided to close this store along with 500 other stores.
954 W Monroe sits at the lighted intersection of Monroe and Morgan Streets in the heart of the trendy West Loop of downtown Chicago. The Residence at 950 W. Moroe is a 101-unit upscale condo building built in 2005.
Investment highlights
Corporate NNN lease
Tenant exercised its 2nd 5-year extension in June of 2024
Store is presently dark with rent payable until May of 2030
Great downtown Chicago West Loop location in 101-unit constructed condo building built in 2005
Located at the lighted corner of Monroe and Morgan
Investment Grade Tenant rated A and Baa2
No Gas Station Component involved
Tenant Leases 2 indoor heated parking spaces
Tenant pays Condo Association dues, Real Estate taxes, and all utilities
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