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Fitness Center

Planet Fitness | Recent Lease Extension | Low Rent PSF | Chicago MSA

2560 N Harlem Ave, Elmwood Park, IL 60707

Listing Price: $3,500,000

Cap Rate
6.57%
Tenant Name
Planet Fitness
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
25,035
Lease Type
Double Net
Rent Per Square Feet
$9.19

Investment Overview

Marcus & Millichap is pleased to bring to market a 25,035 square-foot single-tenant Planet Fitness in Elmwood Park, IL, a prime Chicago MSA location. Planet Fitness recently extended the lease for the first 5-year renewal option in 2021, demonstrating their long-term success and commitment to this location. This Planet Fitness is a Top Performing fitness center ranking in the top 84% of overall fitness centers in Illinois and is in the top 84% of all fitness centers nationwide according to Placer.ai in the trailing 12 months. Positioned adjacent to. N Harlem Ave., a main retail corridor that sees 20,358 vehicles per day. Surrounding big-box retailers include Angelo Caputo’s Fresh Markets, McDonald’s, Dunkin Donuts, Chase Bank, 7-Eleven, The RoomPlace, Advanced Auto Parts, AutoZone, O’Reilly Auto Parts, and many more. Located in the Chicago Metroplex, this Planet Fitness benefits from a dense 3-mile population of 271,159 and an average household income of over $91,941 per year.

Investment Highlights

  • Recent Lease Extension
  • Top Performing Location
  • Dense Infill Position
  • Premier Tourist Destination
  • Proximity to Nationally Ranked Retail

Exclusively Listed By

  • Mark Thiel

    Senior Managing Director Investments

    (858) 373-3206

    Email Mark

    License(s): CA: 01469342

    San Diego

  • Jake M. Bordelon

    Senior Associate

    Email Jake

    License(s): CA: 02048307

    San Diego

  • Sean R. Sharko

    Senior Vice President Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Vice President Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Fitness Center

Planet Fitness | Recent Lease Extension | Low Rent PSF | Chicago MSA

Listing Price: $3,500,000

Cap Rate
6.57%
Tenant Name
Planet Fitness
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
25,035
Lease Type
Double Net
Rent Per Square Feet
$9.19

Investment Highlights

  • Recent Lease Extension
  • Top Performing Location
  • Dense Infill Position
  • Premier Tourist Destination
  • Proximity to Nationally Ranked Retail

Investment Overview

Marcus & Millichap is pleased to bring to market a 25,035 square-foot single-tenant Planet Fitness in Elmwood Park, IL, a prime Chicago MSA location. Planet Fitness recently extended the lease for the first 5-year renewal option in 2021, demonstrating their long-term success and commitment to this location. This Planet Fitness is a Top Performing fitness center ranking in the top 84% of overall fitness centers in Illinois and is in the top 84% of all fitness centers nationwide according to Placer.ai in the trailing 12 months. Positioned adjacent to. N Harlem Ave., a main retail corridor that sees 20,358 vehicles per day. Surrounding big-box retailers include Angelo Caputo’s Fresh Markets, McDonald’s, Dunkin Donuts, Chase Bank, 7-Eleven, The RoomPlace, Advanced Auto Parts, AutoZone, O’Reilly Auto Parts, and many more. Located in the Chicago Metroplex, this Planet Fitness benefits from a dense 3-mile population of 271,159 and an average household income of over $91,941 per year.

Exclusively Listed By

  • Mark Thiel

    Senior Managing Director Investments

    (858) 373-3206

    Email Mark

    License(s): CA: 01469342

    San Diego

  • Jake M. Bordelon

    Senior Associate

    Email Jake

    License(s): CA: 02048307

    San Diego

  • Sean R. Sharko

    Senior Vice President Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Vice President Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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