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Grocery Store

ALDI Absolute Net Ground Lease | Dense Chicago Location

7627 S Ashland Ave, Chicago, IL 60620

Listing Price: $3,496,509

Cap Rate
5.25%
Tenant Name
ALDI
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
18,225
Lease Type
Ground Lease
Rent Per Square Feet
$10.07

Investment Overview

Marcus & Millichap is pleased to present an ALDI absolute net ground lease located in a dense Chicago location. It is located on Ashland Avenue in Chicago, Illinois. ALDI is a global tenant with over 10,000 stores and rapidly expanding. It has a low, replaceable rent of roughly $10 per square foot. The absolute ground lease has over 10 years remaining and is corporately guaranteed by ALDI, Incorporated. There is a 5% rental increase in 2027 and three, five-year options remaining with 5% rental increases. The building was built-to-suit ALDI in 2008, and the tenant is to undergo interior renovations to modernize the store. It has attractive real estate fundamentals including a rare large parking lot with 64 surface spaces and two points of ingress/egress. It is highly visible with over 450 feet of frontage along South Ashland Avenue and 126 feet of frontage along West 76th Street. It is situated at a signalized, hard-corner intersection within a highly trafficked area with over 33,900 total vehicles passing per day. Retailers nearby include a Walmart Neighborhood Market, Burger King, and Dollar Tree. It has a high infill location of 286,828 people living within a three-mile radius. It is also very commutable, with a PACE bus stop directly in front of subject property, 2.3 miles from the 79th Street Metra, and two miles from Interstate 94 with over 244,600 vehicles passing per day.

Investment Highlights

  • Low, Replaceable Rent of Roughly $10 per Square Foot
  • Absolute-Net Ground Lease with Over 10 Years Remaining
  • Rare Large Parking Lot with 64 Surface Spaces with Two Points in of Ingress/Egress
  • Situated at a Signalized, Hard-Corner Intersection Within a Highly Trafficked Area | 33,900 Total Vehicles Passing per Day
  • Adjacent to a Walmart Neighborhood Market, Burger King and Dollar Tree
  • Infill Location with 286,828 People Living Within a Three-Mile Radius
  • Easily Commutable Location
  • Global Tenant | Privately Held Discount Supermarket Chain with Over 10,000 Stores and Rapidly Expanding

Exclusively Listed By

Grocery Store

ALDI Absolute Net Ground Lease | Dense Chicago Location

Listing Price: $3,496,509

Cap Rate
5.25%
Tenant Name
ALDI
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
18,225
Lease Type
Ground Lease
Rent Per Square Feet
$10.07

Investment Highlights

  • Low, Replaceable Rent of Roughly $10 per Square Foot
  • Absolute-Net Ground Lease with Over 10 Years Remaining
  • Rare Large Parking Lot with 64 Surface Spaces with Two Points in of Ingress/Egress
  • Situated at a Signalized, Hard-Corner Intersection Within a Highly Trafficked Area | 33,900 Total Vehicles Passing per Day
  • Adjacent to a Walmart Neighborhood Market, Burger King and Dollar Tree
  • Infill Location with 286,828 People Living Within a Three-Mile Radius
  • Easily Commutable Location
  • Global Tenant | Privately Held Discount Supermarket Chain with Over 10,000 Stores and Rapidly Expanding

Investment Overview

Marcus & Millichap is pleased to present an ALDI absolute net ground lease located in a dense Chicago location. It is located on Ashland Avenue in Chicago, Illinois. ALDI is a global tenant with over 10,000 stores and rapidly expanding. It has a low, replaceable rent of roughly $10 per square foot. The absolute ground lease has over 10 years remaining and is corporately guaranteed by ALDI, Incorporated. There is a 5% rental increase in 2027 and three, five-year options remaining with 5% rental increases. The building was built-to-suit ALDI in 2008, and the tenant is to undergo interior renovations to modernize the store. It has attractive real estate fundamentals including a rare large parking lot with 64 surface spaces and two points of ingress/egress. It is highly visible with over 450 feet of frontage along South Ashland Avenue and 126 feet of frontage along West 76th Street. It is situated at a signalized, hard-corner intersection within a highly trafficked area with over 33,900 total vehicles passing per day. Retailers nearby include a Walmart Neighborhood Market, Burger King, and Dollar Tree. It has a high infill location of 286,828 people living within a three-mile radius. It is also very commutable, with a PACE bus stop directly in front of subject property, 2.3 miles from the 79th Street Metra, and two miles from Interstate 94 with over 244,600 vehicles passing per day.

Exclusively Listed By

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