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Diamonds Direct

1150 W 22nd St, Oak Brook, IL 60523

Listing Price: $6,417,000

Cap Rate
6.00%
Tenant Name
Diamonds Direct USA, Inc.
Years Remaining On Lease
14.4
Gross SF
6,000
Guarantor
Corporate Guarantee
Rentable SF
6,000
Price/Gross SF
$1,069.50
Lease Type
NNN Ground Lease
Rent Per Square Feet
$64.17

Investment Overview

Marcus & Millichap is pleased to present a brand new construction triple-net (NNN) ground lease with over 14 years of firm term remaining with Diamonds Direct. The 6,000-square-foot single-tenant building sits at the premier corner of 22nd Street and McDonald Drive, a high-traffic signalized intersection with visibility to over 138,000 vehicles per day in Oak Brook, a high-income suburb west of Chicago. The asset sits at the heart of the new Oak Brook Commons Mixed-Use Development spanning 17+ acres.

Diamonds Direct opened in August 2023, and the NNN ground lease features a 3.63 percent increase in year 3 followed by 10 percent increases every 5 years in the original term and in the three 5-year renewal options to offset inflation.

This property presents an outstanding opportunity for a passive owner to acquire an irreplaceable high visibility corner sitting in the center of one of the Midwest’s premier shopping districts. The tenant’s steady growth trajectory paired with the long term lease will be a terrific addition to an investor’s portfolio.

Investment Highlights

  • Rare 15-Year NNN Ground Lease With Over 14 Years of Firm Term Remaining
  • High Visibility Corner Directly off of I-88 Tollway With Over 138,000 VPD
  • Across From Oakbrook Center — 25M+ Visitors Spending Over $1B Annually
  • Average Household Income of $156,431 and Daytime Population of Over 141,100 Within Three-Mile Radius
  • Upscale Neighbors in the New Oak Brook Commons Development Include Fogo de Chão, Alter Brewing, and Gibsons Bar & Steakhouse

Exclusively Listed By

No Tenant Specified

Diamonds Direct

Listing Price: $6,417,000

Cap Rate
6.00%
Tenant Name
Diamonds Direct USA, Inc.
Years Remaining On Lease
14.4
Gross SF
6,000
Guarantor
Corporate Guarantee
Rentable SF
6,000
Price/Gross SF
$1,069.50
Lease Type
NNN Ground Lease
Rent Per Square Feet
$64.17

Investment Highlights

  • Rare 15-Year NNN Ground Lease With Over 14 Years of Firm Term Remaining
  • High Visibility Corner Directly off of I-88 Tollway With Over 138,000 VPD
  • Across From Oakbrook Center — 25M+ Visitors Spending Over $1B Annually
  • Average Household Income of $156,431 and Daytime Population of Over 141,100 Within Three-Mile Radius
  • Upscale Neighbors in the New Oak Brook Commons Development Include Fogo de Chão, Alter Brewing, and Gibsons Bar & Steakhouse

Investment Overview

Marcus & Millichap is pleased to present a brand new construction triple-net (NNN) ground lease with over 14 years of firm term remaining with Diamonds Direct. The 6,000-square-foot single-tenant building sits at the premier corner of 22nd Street and McDonald Drive, a high-traffic signalized intersection with visibility to over 138,000 vehicles per day in Oak Brook, a high-income suburb west of Chicago. The asset sits at the heart of the new Oak Brook Commons Mixed-Use Development spanning 17+ acres. Diamonds Direct opened in August 2023, and the NNN ground lease features a 3.63 percent increase in year 3 followed by 10 percent increases every 5 years in the original term and in the three 5-year renewal options to offset inflation. This property presents an outstanding opportunity for a passive owner to acquire an irreplaceable high visibility corner sitting in the center of one of the Midwest’s premier shopping districts. The tenant’s steady growth trajectory paired with the long term lease will be a terrific addition to an investor’s portfolio.

Exclusively Listed By

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