STNL - Action Behavior Center - Covered Land Play
Retail | 6.76% CAP | 8,000 SqFt
Investment highlights
E-COMMERCE RESISTANT HEALTHCARE TENANT + PRIVATE EQUITY OWNED
The Property is leased to Action Behavior Centers, a national provider of autism therapy and one of the largest behavioral health operators in the United States. As a medical provider delivering in person clinical services, ABC is fully e-commerce resistant with operations that cannot be replicated or replaced through online channels. ABC is backed by CharlesBank Capital Partners, a leading private equity firm with $26 billion in assets under management, which acquired the company in 2022 at a valuation of approximately $840 million. ABC has since expanded its national platform to over 380 locations and more than 12,000 autism professionals, providing investors with exceptional credit stability and operational durability.
LONG TERM SINGLE-TENANT NET LEASE
The Property is a single tenant net lease to Action Behavior Centers on a long-term net lease with 7 years of remaining term, providing investors with stable and predictable income backed by a nationally recognized behavioral health operator. The property includes rare on-site parking in a dense urban infill location. The lease structure requires the tenant to pay all operating expenses, resulting in minimal landlord oversight and protection from operating cost increases. Annual rent escalations provide built-in income growth and strong inflation resilience throughout the lease term. As a specialized medical provider with significant capital investment in its clinical facilities, ABC represents a sticky tenancy that is costly and operationally disruptive to relocate, ensuring high tenant retention.
STRONG IN-PLACE INCOME + LONG-TERM DEVELOPMENT POTENTIAL
Given its proximity to major transit infrastructure, the site is well positioned for future redevelopment through Chicago’s Transit Oriented Development (TOD) incentives. The Property’s C1-3 zoning allows ground-floor retail with residential units above and provides a Floor Area Ratio (FAR) of 3, supporting up to 47,850 square feet of total buildable area. Additional density may be achievable through upzoning or other City incentive programs.
RAPIDLY DEVELOPING NEIGHBORHOOD
The neighborhood surrounding the Property is experiencing a remarkable evolution, reshaping urban living while drawing businesses and fueling economic growth. In recent years, more than 4,000 residential units have been completed, with another 10,000 units and 5 million square feet of office and life science space currently planned or under development. As Fulton Market and the West Loop continue to expand, demand remains strong, reinforcing the area’s status as a premier destination for residents and businesses alike.
EXCEPTIONAL DEMOS + CONNECTIVITY
The Property offers exceptional accessibility with multiple public transit options nearby. Located just steps from the Morgan and Ashland CTA Green/Pink Line stations, it provides quick and convenient access throughout the city. CTA bus routes #8, #20, and #65 run along Halsted Street, Madison Street, and Grand Avenue, all within a mile radius of the Property. In addition, the site is ideally positioned just 0.8 miles west of Interstate-90/94 and 1 mile from Ogilvie Transportation Center, ensuring seamless connectivity to downtown Chicago and the surrounding suburbs. The Fulton Market / West Loop submarket remains one of Chicago’s most desirable real estate markets, attracting buyers, renters, and nationally recognized companies with its dynamic growth and appeal. The local workforce contributes to the area’s vibrancy, with approximately 216,000 people employed within a one-mile radius, driving strong demand for retail and restaurant space. The neighborhood’s affluence further underscores its strength, with an average household income of $156,086 and a median home value of $479,689 within one mile.
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