Absolute Net Tutor Time | Fresh 5YR Lease Extension
7.25% CAP Rate | $282.76 PSF
Marketing description
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a recently extended, single tenant net-leased Tutor Time located on Arlington Heights Rd in Itasca, Illinois. Positioned in the middle of numerous dense
residential neighborhoods, this property benefits from dense and affluent suburban demographics.
Tutor Time recently extended their lease for 5-Years with minimal concessions at a reasonable rent of $20.50/SF. The lease is Absolute NNN with the landlord having no responsibilities whatsoever. At the end of their current firm term, Tutor Time has 2-5YR Options, each with 10% rental increases.
The lease is corporately guaranteed by Tutor Time Learning Systems, Inc, which operates as part of Learning Care Group, a nationally scaled early-childhood education platform with over 1,000 schools and childcare facilities. Tutor Time specifically has been operating in various forms since the 1980s, with continuous corporate presence nationally.
Itasca is a well-established, family-oriented community with multiple public and private school locations directly within the village. The area benefits from low student-teacher ratios, above-average academic performance, and convenient access to nearby high schools, supporting consistent demand for early education and childcare services.
The demographics surrounding this property are especially noteworthy with a population of 60,000 people and a daytime population of 120,000 within a 3-mile radius. Average household incomes hover at $123,000, making this location ideal for
the higher tier services of Tutor Time.
Priced at $2,965,000, and a 7.25% CAP rate, this is an opportunity to acquire a safe, stable, and passive net-leased asset, in a premier suburb of Chicago.
Investment highlights
- Freshly renewed lease on a +5-Year Tutor Time location with zero landlord responsibilities
- Lease is corporately guaranteed by Tutor Time Learning Systems, Inc
- 2-5YR options at the end of the firm term, each with 10% rental escalators
- Tenant is paying a reasonable, replaceable rent of $20.50/SF
- The property is well-sited for childcare, as well as multiple residual uses, given the strong retail fundamentals of the underlying real estate
- Less than four miles west of O’Hare International Airport, the property is surrounded by numerous dense residential neighborhoods
- Affluent demographics with 60,000 people and an average income of $123,000 within a 3-mile radius
- Daytime population of over 120,000 people within a 3-mile radius
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