Enterprise Rent-A-Car
6.63% Cap Rate | Wrigleyville | No Renewal Options
Marketing description
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Enterprise property in Chicago, Illinois. Enterprise has been successfully operating from this location since 1985 and executed a lease extension in 2015 demonstrating commitment. The current lease runs through February 2033 and features significant 2.25% annual rental escalations. The lease is also absolute triple net and presents no landlord responsibilities. This is a rare, dense urban infill site in the heart of Wrigleyville, presenting a potential covered land opportunity as the tenant holds no renewal options.
The property benefits from its position within Chicago’s vibrant Lakeview neighborhood. There are over 106,000 people living within one mile of the property, those of which earn an average household income exceeding $183,000. The property is surrounded by major demand drivers including Advocate Illinois Masonic Medical Center (397 beds), Advocate Outpatient Center, Belmont Harbor, Diversey Harbor, Jewel-Osco, Whole Foods, and Wrigley Field. Situated just two blocks from Wellington Station, served by the Purple and Brown CTA lines with a combined 38,000 daily riders, the property offers exceptional transit access. It is also surrounded by major thoroughfares, including Diversey Pkwy (16,700 vehicles per day), Halsted St (12,400 VPD), Lincoln Ave (13,000 VPD), Belmont Ave (17,700 VPD), and Lake Shore Dr (161,000 VPD).
Enterprise Rent-A-Car, founded in 1957 by Jack Taylor in St. Louis, Missouri, is a global leader in the car rental industry. Initially a small leasing company with just seven vehicles, Enterprise grew under Taylor’s vision of exceptional customer service and a focus on local markets. Today, it operates over 9,500 locations in more than 100 countries, offering a wide range of vehicles for personal and business use. The company, still family-owned through Enterprise Mobility, emphasizes flexibility with services like daily rentals, long-term leases, and innovative programs such as Enterprise CarShare and Exotic Car Collection, catering to diverse customer needs.
Investment highlights
Highly sought-after Wrigleyville neighborhood – Dense, urban infill location
Rare, covered land play as Enterprise has no renewal options
Absolute NNN – No landlord responsibilities
Over 7 years remain on the primary lease term
Significant 2.25% annual rental escalations
Successful operating history since 1985
Found in Chicago’s Lakeview neighborhood – 106,000+ people living within one-mile
Affluent area - $183,000+ average household income within one mile
Proximity to several local traffic draws – Advocate Illinois Masonic Medical Center (397 beds), Advocate Outpatient Center, Belmont Harbor, Diversey Harbor, Jewel-Osco, Whole Foods, and Wrigley Field
Two blocks south of Wellington Station – serving the Purple and Brown CTA lines (38,000 combined daily riders)
Surrounded by major thoroughfares: Diversey Pkwy (16,700 VPD), Halsted St (12,400 VPD), Lincoln Ave (13,000 VPD), Belmont Ave (17,700 VPD), Lake Shore Dr (161,000 VPD)
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