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Auto Service - Gas-Conv

Service King

1048 Main St, Crete, IL 60417

Listing Price: $1,905,357

Cap Rate
7.00%
Tenant Name
Service King
Years Remaining On Lease
5.5
Gross SF
11,500
Guarantor
No Guarantee
Rentable SF
11,500
Price/Gross SF
$165.68
Lease Type
Double Net
Rent Per Square Feet
$13.20

Investment Overview

Marcus & Millichap is pleased to present this Service King property located on Main Street in Crete, Illinois. The subject property is an 11,500-square-foot-facility sitting on 0.85 acres. The facility was built in 1974 and features a stucco façade and metal construction, along with eleven drive-in doors. There are over five years remaining on a Double-Net lease, and the lease offers three, five-year renewal options with a 10 percent rent increase in each option. CRETE Crete is a community rather unique to the Chicago metropolitan area. Located just 30 miles south of the Loop in Will County, Crete has maintained its small-town charm while growing to nearly 9,000 residents. Crete has award-winning schools, beautiful parks, lush natural preserved areas, and more than six golf courses within a short drive. Crete continues to be a magnet for upscale residential developments and new commercial projects. SERVICE KING Service King Collision®, which is now celebrating more than 45 years of experience in the automotive repair industry, is a leading national operator of comprehensive, high-quality auto body collision repair facilities. Since its founding in 1976, Service King has grown into one of the industry’s largest collision repair platforms with over 330 locations spanning 24 states. Today, Service King offers deep footprint coverage in many of the nation’s fastest growing MSAs, including Atlanta, Austin, Dallas, Houston, Las Vegas, Nashville, Phoenix, Salt Lake City, San Antonio, Seattle, and Washington, D.C. CRASH CHAMPIONS Crash Champions is a leading independent collision repair company operating 218-state-of the-art centers across 20 states including California, Colorado, Florida, Idaho, Illinois, Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, Pennsylvania, Ohio, Oregon, Washington, and Wisconsin, as well as Washington, D.C. Founded in 1999 as a single shop outside Chicago by industry veteran and entrepreneur Matt Ebert, today Crash Champions is one of the fastest growing and largest founder-led and operated collision repair MSOs in America. CRASH CHAMPIONS MERGER Crash Champions has confirmed its merger with Service King through an investment by Clearlake Capital Group. According to Crash Champions Founder and CEO Matt Ebert, the deal is scheduled to close at the beginning of August, with Clearlake Capital Group as the investor. Following the closing and integration, the company will operate over 550 total locations across 35 states and the District of Columbia under the Crash Champions name and banner.

Investment Highlights

  • Great Location in the Center of Crete's Business District
  • Affluent Community with 11,300 Vehicles Per Day on Main Street
  • New 55-Acre Development Directly Across Main Street
  • New Strategic Merger with Crash Champions
  • Body Shop Use Since 1999

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

Auto Service - Gas-Conv

Service King

Listing Price: $1,905,357

Cap Rate
7.00%
Tenant Name
Service King
Years Remaining On Lease
5.5
Gross SF
11,500
Guarantor
No Guarantee
Rentable SF
11,500
Price/Gross SF
$165.68
Lease Type
Double Net
Rent Per Square Feet
$13.20

Investment Highlights

  • Great Location in the Center of Crete's Business District
  • Affluent Community with 11,300 Vehicles Per Day on Main Street
  • New 55-Acre Development Directly Across Main Street
  • New Strategic Merger with Crash Champions
  • Body Shop Use Since 1999

Investment Overview

Marcus & Millichap is pleased to present this Service King property located on Main Street in Crete, Illinois. The subject property is an 11,500-square-foot-facility sitting on 0.85 acres. The facility was built in 1974 and features a stucco façade and metal construction, along with eleven drive-in doors. There are over five years remaining on a Double-Net lease, and the lease offers three, five-year renewal options with a 10 percent rent increase in each option. CRETE Crete is a community rather unique to the Chicago metropolitan area. Located just 30 miles south of the Loop in Will County, Crete has maintained its small-town charm while growing to nearly 9,000 residents. Crete has award-winning schools, beautiful parks, lush natural preserved areas, and more than six golf courses within a short drive. Crete continues to be a magnet for upscale residential developments and new commercial projects. SERVICE KING Service King Collision®, which is now celebrating more than 45 years of experience in the automotive repair industry, is a leading national operator of comprehensive, high-quality auto body collision repair facilities. Since its founding in 1976, Service King has grown into one of the industry’s largest collision repair platforms with over 330 locations spanning 24 states. Today, Service King offers deep footprint coverage in many of the nation’s fastest growing MSAs, including Atlanta, Austin, Dallas, Houston, Las Vegas, Nashville, Phoenix, Salt Lake City, San Antonio, Seattle, and Washington, D.C. CRASH CHAMPIONS Crash Champions is a leading independent collision repair company operating 218-state-of the-art centers across 20 states including California, Colorado, Florida, Idaho, Illinois, Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, Pennsylvania, Ohio, Oregon, Washington, and Wisconsin, as well as Washington, D.C. Founded in 1999 as a single shop outside Chicago by industry veteran and entrepreneur Matt Ebert, today Crash Champions is one of the fastest growing and largest founder-led and operated collision repair MSOs in America. CRASH CHAMPIONS MERGER Crash Champions has confirmed its merger with Service King through an investment by Clearlake Capital Group. According to Crash Champions Founder and CEO Matt Ebert, the deal is scheduled to close at the beginning of August, with Clearlake Capital Group as the investor. Following the closing and integration, the company will operate over 550 total locations across 35 states and the District of Columbia under the Crash Champions name and banner.

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

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