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Auto Service - Gas-Conv

Service King

114 Oak St, New Lenox, IL 60451

Listing Price: $1,085,271

Cap Rate
7.00%
Tenant Name
Service King
Years Remaining On Lease
5.6
Gross SF
6,500
Guarantor
No Guarantee
Rentable SF
6,500
Price/Gross SF
$166.96
Lease Type
Double Net
Rent Per Square Feet
$13.48

Investment Overview

Marcus & Millichap is pleased to present this Service King property located off U.S. Route 30 on Oak Street in New Lenox, Illinois. The subject property is a 6,500-square-foot-facility sitting on 0.55 acres. The facility was built in 1968 and features a stucco façade and wood frame construction, along with three 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. NEW LENOX New Lenox is a village in central Will County, Illinois. It is a southwestern suburb of Chicago and an eastern suburb of Joliet, located near Interstates 55, 57, 80, and 355. New Lenox is served by two Metra commuter rail lines, affording easy commuting options to Chicago with over 25 trains per day. Joliet is the County Seat of Will County and at the 2020 census, the city was the third-largest in Illinois with a population of 150,362. 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

  • Tenant has Occupied this Space Since 2015
  • New Roof July 2022
  • New Merger with Crash Champions, Growing the Company to 550 Locations Nationwide

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: $1,085,271

Cap Rate
7.00%
Tenant Name
Service King
Years Remaining On Lease
5.6
Gross SF
6,500
Guarantor
No Guarantee
Rentable SF
6,500
Price/Gross SF
$166.96
Lease Type
Double Net
Rent Per Square Feet
$13.48

Investment Highlights

  • Tenant has Occupied this Space Since 2015
  • New Roof July 2022
  • New Merger with Crash Champions, Growing the Company to 550 Locations Nationwide

Investment Overview

Marcus & Millichap is pleased to present this Service King property located off U.S. Route 30 on Oak Street in New Lenox, Illinois. The subject property is a 6,500-square-foot-facility sitting on 0.55 acres. The facility was built in 1968 and features a stucco façade and wood frame construction, along with three 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. NEW LENOX New Lenox is a village in central Will County, Illinois. It is a southwestern suburb of Chicago and an eastern suburb of Joliet, located near Interstates 55, 57, 80, and 355. New Lenox is served by two Metra commuter rail lines, affording easy commuting options to Chicago with over 25 trains per day. Joliet is the County Seat of Will County and at the 2020 census, the city was the third-largest in Illinois with a population of 150,362. 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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