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Auto Parts

O'Reilly Auto Parts

854 Summit St, Elgin, IL 60120

Listing Price: $3,273,000

Cap Rate
5.50%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
10.7
Gross SF
7,616
Guarantor
Corporate Guarantee
Rentable SF
7,616
Price/Gross SF
$429.75
Lease Type
Absolute Net
Rent Per Square Feet
$23.63

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.

Investment Highlights

  • Recent 10-Year Lease Extension – 14-Year Operating History
  • Attractive All-Brick Construction
  • Excellent Access and Visibility on Summit Street (16,454 VPD)
  • Next to the Planned Bella Casa Square Development (155 Apartments and 13,000-SF of Retail)
  • Chicago MSA Location - More than 183,058 Residents Within a Five-Mile Radius
  • 38 Miles to Downtown Chicago

Exclusively Listed By

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

Auto Parts

O'Reilly Auto Parts

Listing Price: $3,273,000

Cap Rate
5.50%
Tenant Name
O'Reilly Auto Parts
Years Remaining On Lease
10.7
Gross SF
7,616
Guarantor
Corporate Guarantee
Rentable SF
7,616
Price/Gross SF
$429.75
Lease Type
Absolute Net
Rent Per Square Feet
$23.63

Investment Highlights

  • Recent 10-Year Lease Extension – 14-Year Operating History
  • Attractive All-Brick Construction
  • Excellent Access and Visibility on Summit Street (16,454 VPD)
  • Next to the Planned Bella Casa Square Development (155 Apartments and 13,000-SF of Retail)
  • Chicago MSA Location - More than 183,058 Residents Within a Five-Mile Radius
  • 38 Miles to Downtown Chicago

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.

Exclusively Listed By

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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