Savers | Chicago, IL
Retail | 7.50% CAP | 24,526 SqFt
Marketing description
CBRE is pleased to present the opportunity to acquire a brand-new 10-year net lease investment with corporate guaranty from Savers Value Village, Inc. (NYSE: SVV / S&P: B+ / Rev: $1.68B) at 2928 North Ashland Avenue in Chicago, Illinois. Set to open on June 18, 2026, Savers' net lease will feature 10 years of primary term with a 10% rent increase in July 2031 and in each of the two, 5-year renewal options.
This property is strategically located within Ashland Wellington Plaza, a premier shopping center anchored by a top-performing Jewel-Osco. The property is situated at the nexus of the Lakeview, Lincoln Park, and Roscoe Village neighborhoods along Ashland Avenue (28,500 VPD) less than four miles northwest of Chicago's center. Boasting a Walk Score of 91/100, this "Walker's Paradise" ensures a consistent stream of pedestrian traffic from the surrounding high-density residential neighborhoods.
The property benefits from a brand-new roof with a 20-year roof warranty, valid through 2046. This is one of the few retail centers in Lakeview offering ample surface-level parking (via easement), a critical amenity in a neighborhood where street parking is notoriously difficult. Savers benefits from affluent demographics with a population of 544,773 and an average household income of $160,539 within a 3-mile radius.
Investment highlights
- Premier Tenant - Savers Value Village, Inc. (NYSE: SVV / S&P: B+ / Rev: $1.68B) is a renowned thrift store retailer based in Bellevue, Washington and leader in the second-hand merchandise sector with over 365 locations across the United States, Canada, and Australia. Grounded in their unique business model that supports local non-profit organizations, Savers has cultivated a strong market presence and a reputation for quality and value.
- Brand-New 10-Year Net Lease with Corporate Guaranty - Set to open on June 18, 2026, Savers' net lease will feature 10 years of primary term with a 10% rent increase in July 2031 and in each of the two, 5-year renewal options. Additionally, the lease is guaranteed by Savers Value Village, Inc.
- Brand-New Roof with Warranty - The property benefits from a brand-new roof with a 20-year roof warranty, valid through 2046.
- Rare Parking Advantage - This is one of the few retail centers in Lakeview offering ample surface-level parking (via easement), a critical amenity in a neighborhood where street parking is notoriously difficult.
- Impressive Walkability | Proximate to Transit Options - Situated at the nexus of the Lakeview, Lincoln Park, and Roscoe Village neighborhoods, the property is strategically located along Ashland Avenue (28,500 VPD) less than four miles northwest of Chicago's center. Boasting a Walk Score of 91/100, this "Walker's Paradise" ensures a consistent stream of pedestrian traffic from the surrounding high-density residential neighborhoods. Accessibility is further enhanced by its transit-oriented location, situated just a 14-minute walk from the Paulina Brown Line "L" station and in immediate proximity to the #9 Ashland and #76 Diversey bus lines.
- Strategically Located within Ashland Wellington Plaza - Savers is ideally positioned within a premier shopping center anchored by a top-performing Jewel-Osco, which serves as a massive draw with over 1.33 million annual visits (Placer.ai). Other users within Ashland Wellington Plaza include Tide Laundromat, Szechuan Corner and Children's Healthcare Associates.
- Within Chicago's Primary Retail & Commercial Corridor - Savers is within one of Chicago's preeminent retail and commercial corridors with 41 MSF of retail, 16.7 MSF of office, 14.8 MSF of industrial, and 163,432 multifamily units within a 3-mile radius of the site. The subject property is surrounded by a dense concentration of institutional-grade retail centers, ensuring a high-traffic regional draw within a one-mile radius. Major shopping hubs include Riverpoint Center, which features a powerhouse lineup including Old Navy, Jewel-Osco, Marshalls, and Bath & Body Works, as well as the vertically oriented Century Shopping Centre, home to LA Fitness and Landmark Century Centre Cinema. Additionally, the site is just blocks from the renowned Southport Corridor—a premier boutique lifestyle destination featuring Anthropologie, J.Crew, and Lululemon—and sits in close proximity to Clybourn Square and the expansive retail clusters along North Clybourn Avenue. This surrounding retail density solidifies the area's position as a dominant commercial destination for Chicago's North Side.
- Built-In Consumer Base - This site is within 1 mile from nearly 30,000 households, placing a substantial built-in customer base within walking distance.
- Affluent Demographics - Savers benefits from affluent demographics with a population of 544,773 and an average household income of $160,539 within a 3-mile radius. Additionally, the area is populated by young professionals and families who value both sustainability (resale/upcycling) and high-quality "treasure hunting"—the exact niche Savers fills.
- Chicago MSA Advantage - Chicago is one of the most attractive and dynamic markets in the nation. The area's vibrant business climate, central geographic location, diversified economy, and available human resources have helped Chicago achieve a prominent position as a world-class city in finance, international trade, manufacturing, transportation, culture, and the arts. The Chicago-Naperville-Elgin, IL-IN Metropolitan Statistical Area spans 14 counties across northeast Illinois, northwest Indiana and southeast Wisconsin.
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