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29204992
29204993

581 W 14th St, Chicago Heights, IL 60411

SS
IL 471.010712
Marcus & Millichap SWM Group
AW
IL 475.140200
Marcus & Millichap SWM Group
BS
IL 475204677
Marcus & Millichap SWM Group
Listed by Marcus & Millichap SWM Group
$1,934,038
143 days on market
Updated 50 days ago
Opportunity zone

Starbucks | Grocery Shadow | Storage Outlot

Details
APN 32-19-101-042
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 2,225
Net Rentable (SqFt) 2,225
Units 1
Cap Rate 6.5%
NOI $125,712
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks
Lease Type Net
Lease Term 10.2
Lease Expiration 02/28/2035
Remaining Term 8.7
Rent Bumps Yes
Lease Options 4, 5-Year
Price per SqFt $869
Broker Co-Op Yes
Year Built 2024
Buildings 1
Stories 1
Acreage 0.940
Parking Spaces 65 spaces
Parking Per SqFt 29.21
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/14/2024
Occupancy Date 12/14/2024
Ground Lease No
Ownership Fee Simple

Grocery Shadow Anchored | Storage Outlot | 2024 Construction

Marketing description

This newly constructed Starbucks, built in 2024, is secured by a corporate guarantee and features nine years of term remaining with 4, 5-year renewal options and scheduled rent increases. The property includes a drive-thru and 65 parking spaces on a 0.94-acre lot, enhancing both current and future tenant value. It is shadow anchored by Lincoln Crossing Shopping Center, which attracts over 1.1 million annual visitors and positioned as an outlot to Extra Space Storage, which draws over 20,700 annual visitors. Strategically positioned on the morning side of traffic along Lincoln Highway / Route 30 (31,400 VPD), this location captures commuter flow heading west toward the Metra station and Interstate-57. The Metra station, just 1.6 miles west, serves over 4 million annual riders, while Interstate-57, 3.6 miles west, handles 79,300 vehicles daily. The dense, affluent trade area is home to nearly 80,000 residents and over 70,000 employees within three miles, with an average household income exceeding $103,000 within a five-mile radius.

Investment highlights

  • New 2024 construction Starbucks with a corporate guarantee

  • Lease features 9-years of term remaining with 4, 5-year renewal options and scheduled rental increases

  • Outlot to Extra Space Storage (20.7K annual visitors) & shadow anchored by Food 4 Less (699.5K annual visitors)

  • Morning-side of traffic | Located on Lincoln Hwy which sees 31,400 vehicles per day

  • Strong surrounding drivers including national retailers and several schools

  • Average household income of $103,013 within a five-mile radius

  • 79,666 people live and 70,461 people work within a three-mile radius

Listing Contacts

SS
IL 471.010712
Marcus & Millichap SWM Group
AW
IL 475.140200
Marcus & Millichap SWM Group
BS
IL 475204677
Marcus & Millichap SWM Group
Listed by Marcus & Millichap SWM Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$125,712.00
$10,476.00/mo

Valuation Metrics

0
DSCR
6.5%
Cap Rate
6.5%
ROI

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