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Thorntons
10 E Maple Ave, Mundelein, IL 60060
Listing Price: $2,500,000
Investment Overview
Marcus & Millichap is pleased to offer for sale the leased fee interest in 10 East Maple Avenue (the Property), a newly constructed 4,400-square-foot fuel station and convenience store in Mundelein, IL, in which Thorntons LLC has a new 20-year NNN ground lease. The corporately guaranteed lease features 10 percent rent increases every five years throughout the firm term and the six 5-year renewal options to offset inflation.
This 1.43-acre property sits at the signalized intersection of U.S. Highway 45 and Illinois Route 176 in downtown Mundelein, with a population density of 3,504 people per square mile within a one-mile radius and 21,897 households with an average household income of $154,441 in a three-mile radius.
The Village of Mundelein is working with several multifamily developers to increase housing in this downtown area, anchored by the village hall and Metra commuter rail station. Directly south of the Property is a newly built residential property, Morris Station, featuring 139 townhomes. Less than mile south of the Property sits a new 165-unit apartment complex called Station 250, set to open in summer 2024.
The Property is located within three miles of the University of St. Mary on the Lake, Carmel Catholic High School, Libertyville High School, Mundelein High School, and Advocate Condell Medical Center. It sits nine miles west of Lake Michigan.
Thorntons
Investment Highlights
- New 20-Year NNN Ground Lease With Six Renewal Options
- 10 Percent Rent Increases Every Five Years
- Brand New 2024 Construction
- High-Traffic Signalized Intersection With 29,900+ AADT
- Corporately Guaranteed by Thorntons LLC, a Fully Owned Subsidiary of BP
- Additional New Retail Planned for Adjacent Parcel
- Affluent Northwest Suburb in Chicago MSA - One Hour to Downtown Chicago on Metra Commuter Rail
- National Retail Neighbors Include BP, Subway, Mobil, Starbucks, Dunkin', Shell and McDonald's
Exclusively Listed By
Listing Price: $2,500,000
Investment Highlights
- New 20-Year NNN Ground Lease With Six Renewal Options
- 10 Percent Rent Increases Every Five Years
- Brand New 2024 Construction
- High-Traffic Signalized Intersection With 29,900+ AADT
- Corporately Guaranteed by Thorntons LLC, a Fully Owned Subsidiary of BP
- Additional New Retail Planned for Adjacent Parcel
- Affluent Northwest Suburb in Chicago MSA - One Hour to Downtown Chicago on Metra Commuter Rail
- National Retail Neighbors Include BP, Subway, Mobil, Starbucks, Dunkin', Shell and McDonald's
Investment Overview
Marcus & Millichap is pleased to offer for sale the leased fee interest in 10 East Maple Avenue (the Property), a newly constructed 4,400-square-foot fuel station and convenience store in Mundelein, IL, in which Thorntons LLC has a new 20-year NNN ground lease. The corporately guaranteed lease features 10 percent rent increases every five years throughout the firm term and the six 5-year renewal options to offset inflation. This 1.43-acre property sits at the signalized intersection of U.S. Highway 45 and Illinois Route 176 in downtown Mundelein, with a population density of 3,504 people per square mile within a one-mile radius and 21,897 households with an average household income of $154,441 in a three-mile radius. The Village of Mundelein is working with several multifamily developers to increase housing in this downtown area, anchored by the village hall and Metra commuter rail station. Directly south of the Property is a newly built residential property, Morris Station, featuring 139 townhomes. Less than mile south of the Property sits a new 165-unit apartment complex called Station 250, set to open in summer 2024. The Property is located within three miles of the University of St. Mary on the Lake, Carmel Catholic High School, Libertyville High School, Mundelein High School, and Advocate Condell Medical Center. It sits nine miles west of Lake Michigan.
Exclusively Listed By
