Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a double net lease O’Reilly Auto Parts in Elgin, Illinois. The property consists of a 7,616-square-foot, freestanding building that sits on approximately 0.76 acres of land. The tenant recently extended the lease 10 years, with eight percent rental escalations every five years in the options. The property has excellent access and visibility on Summit Street, where traffic counts exceed 16,454 vehicles per day. The area is extremely dense with more than 183,058 residents within a five-mile radius. The property is next to the future site of Bella Casa Square, a major development that was approved by Elgin’s city council in 2021. Upon completion, the 11-acre development will include 155 apartments, 13,000 square feet of retail space and one recreation center for residents.