LA Fitness
8.00% Cap Rate | Affluent Chicago Suburb | Top Location
Marketing description
The Boulder Group is pleased to exclusively market for sale a single tenant net leased LA Fitness property located in Northbrook, Illinois within the Chicago MSA. LA Fitness has been successfully operating at this location since 2014 when the building was constructed. The lease features 10% rental escalations every five years throughout the primary term and three 5-year renewal options. Additionally, Placer data shows this location ranks in the top quarter of LA Fitness locations nationwide.
The 41,042 square-foot building benefits from its location in an affluent Chicago suburb. The property is located at the intersection of Willow Road and Sanders Road (51,000 VPD combined). It features convenient access to major thoroughfares such as Interstate 294 (130,000 VPD) and Milwaukee Avenue (47,000 VPD). The surrounding community generates an average household income in excess of $181,000 within one mile of the subject. Additionally, there are 275,000 people living within a five-mile radius. The property benefits from a strong mix of surrounding retail and office tenants, including Medline, Astellas, CVS, Starbucks, Chipotle, AT&T, and The Gardner School. It is directly across from The Logistics Campus – Glenview, a 100-acre, 3.2-million-SF state-of-the-art industrial redevelopment currently underway, and is within walking distance of Arrive Glenview, a 290-unit luxury apartment community.
LA Fitness is owned by Fitness International, LLC, a privately held company led by founder and CEO Louis Welch. The chain operates approximately 550–600 full-service health clubs in 27 U.S. states and two Canadian provinces, primarily under the LA Fitness banner, with a smaller number of locations operating as Esporta Fitness, a slightly lower-priced brand introduced after the 2020 acquisition of 26 clubs from Wellbridge. Clubs typically feature cardio and strength equipment, group fitness studios, basketball courts, swimming pools, and amenities such as saunas and personal training services, serving millions of members with month-to-month and prepaid membership options.
Investment highlights
Affluent Suburban Demographics - Located in a premier Chicago suburb with more than $181,000 average household income within one mile.
Strategic Chicago MSA Location - Situated within the Chicago MSA, the nation’s 3rd-largest population center.
Established Operating History - Tenant has maintained a strong and successful operating track record for over 10 years.
Top-Performing Fitness Location - Placer.ai data shows this site ranks in the top quartile of LA Fitness locations nationwide.
Limited Competitive Supply - The property is the only LA Fitness–caliber fitness facility within a five-mile trade area.
High-Traffic Retail Corridor - Positioned along major thoroughfares including Willow Road (37,000 VPD) and Milwaukee Avenue (47,000 VPD) with immediate access to Interstate 294 (130,000 VPD).
Dense Surrounding Population - 275,000+ residents live within a five-mile radius.
Proximity To Major Redevelopment - Directly across from The Logistics Campus – Glenview, a 100-acre, 3.2-million-square-foot industrial redevelopment.
Strong Retail & Office Synergy - Surrounded by notable employers and retailers including Medline, Astellas, CVS, Starbucks, Chipotle, AT&T, and The Gardner School.
Walkable Residential Adjacency - Within walking distance of The Arrive Glenview, a unit apartment community built in 2014.
Access To Major Aviation Hub - Minutes from Chicago Executive Airport (PWK), one of the nation’s busiest corporate and private aviation airports.
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