1403 N Main St, Wheaton, IL 60187

Marcus & Millichap is pleased to present the opportunity to purchase an ~18,000 square foot retail property in suburban Wheaton, Illinois. The property is fully leased to three complimentary tenants – a dentist, a resale shop backed by Wheaton’s College Church, and a Re/Max Suburban real estate office. All leases feature strong annual rent increases, and while The Dental Studio and Stars Resale both operate on pure NNN leases, the Re/Max lease features landlord favorable expense stops that allow any increase over current operating expenses to be passed through to the tenant.

The building is positioned on Main Street, between two smaller residential streets, providing easy access to the site. Furthermore, the property benefits from its location at a signalized intersection which further slows passing traffic. With its elevation above Main Street, this retail property appears noticeably prominent from street level.

Wheaton is an especially appealing suburb of Chicago. The demographics jump off the page – with 110,000 people residing within a 3-mile radius and household incomes approaching $150,000 on average, this is also a growing community with a storied history rooted in local Wheaton College – established in 1860, and the affiliated religious organizations associated with it.

This opportunity should appeal to investors looking for a stabilized asset. The weighted average lease term is over 7½ years currently, allowing for a new owner to easily finance this acquisition, while enjoying secure cash flows after debt service that should increase year over year at a steady clip.