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Drug Store

Curaleaf Cannabis Dispensary (Chicago MSA)

11425 S Harlem Ave, Worth, IL 60482

Listing Price: $2,789,294

Cap Rate
8.50%
Tenant Name
Curaleaf
Years Remaining On Lease
6.7
Guarantor
Corporate Guarantee
Rentable SF
7,381
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.12

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Worth, Illinois, part of the Greater Chicago Area. This Curaleaf offers a long-term, triple net (NNN) lease with two, five-year tenant renewal options. There are 10 percent rent increases every five years throughout the base term and option periods. The property underwent a complete renovation in 2019.

The sale of recreational cannabis is legal in Illinois, which means that anyone 21 and older can purchase. In 2023, adult-use cannabis tax revenue in Illinois topped alcohol. Since passing recreational cannabis in 2019, Illinois has emerged as one of the largest cannabis markets in the country, with total sales approaching $2 billion in 2023.

Since its inception, Curaleaf has acquired multiple brands, creating the largest cannabis company in the U.S. and among the largest globally. Curaleaf has a market leading U.S. presence across 17 states with 147 dispensary locations and well over 900 wholesale partner accounts nationwide.

This Curaleaf is part of the Chicago metro, one of the largest metros in the nation, and is only 24 miles from the city of Chicago. The property is located on South Harlem Avenue with a traffic count of 36,500 vehicles daily and is within close proximity to the entrance/exit ramps for Interstate 294 with a daily traffic count of more than 133,000 vehicles. Interstate 294 is a major highway in the Chicago Metropolitan Area that plays a significant role in connecting various suburbs, including Worth, to the city.

The subject property is located directly across the street from Water’s Edge, an 18-hole golf course and club. Curaleaf also benefits from being only three miles from Moraine Valley Community College, and the Chicago Ridge Mall, a popular shopping destination in the Chicago metro area. The property is also just 10 miles from Chicago Midway International Airport, which is the second-largest airport in the Chicago metro and the state of Illinois and serves more than 20 million passengers annually.

Investment Highlights

  • Long-Term, Triple Net (NNN) Lease With 10% Increases Every 5 Years Throughout Base Term and Option Periods
  • Property was Renovated in 2019
  • The Sale of Recreational Cannabis is Legal in Illinois – Anyone 21 and Older Can Purchase
  • Curaleaf has Acquired Multiple Brands, Creating the Largest Cannabis Company in the U.S. and Among the Largest Globally, With 147 Dispensary Locations Across 17 States and Well Over 900 Wholesale Partner Accounts Nationwide
  • Since Passing Recreational Cannabis in 2019, Illinois has Emerged as One of the Largest Cannabis Markets in the Country, With Total Sales Approaching $2 Billion in 2023
  • In 2023, Adult-Use Cannabis Tax Revenue Topped Alcohol
  • 24 Miles from Chicago, the Third Most Populous City in the U.S.
  • Close Proximity to the Ramps of Interstate 294, With a Traffic Count of More Than 133,000 Vehicles Daily – a Major Highway in the Metro That Plays a Significant Role in Connecting Various Suburbs, Including Worth, to the City of Chicago

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Drug Store

Curaleaf Cannabis Dispensary (Chicago MSA)

Listing Price: $2,789,294

Cap Rate
8.50%
Tenant Name
Curaleaf
Years Remaining On Lease
6.7
Guarantor
Corporate Guarantee
Rentable SF
7,381
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$32.12

Investment Highlights

  • Long-Term, Triple Net (NNN) Lease With 10% Increases Every 5 Years Throughout Base Term and Option Periods
  • Property was Renovated in 2019
  • The Sale of Recreational Cannabis is Legal in Illinois – Anyone 21 and Older Can Purchase
  • Curaleaf has Acquired Multiple Brands, Creating the Largest Cannabis Company in the U.S. and Among the Largest Globally, With 147 Dispensary Locations Across 17 States and Well Over 900 Wholesale Partner Accounts Nationwide
  • Since Passing Recreational Cannabis in 2019, Illinois has Emerged as One of the Largest Cannabis Markets in the Country, With Total Sales Approaching $2 Billion in 2023
  • In 2023, Adult-Use Cannabis Tax Revenue Topped Alcohol
  • 24 Miles from Chicago, the Third Most Populous City in the U.S.
  • Close Proximity to the Ramps of Interstate 294, With a Traffic Count of More Than 133,000 Vehicles Daily – a Major Highway in the Metro That Plays a Significant Role in Connecting Various Suburbs, Including Worth, to the City of Chicago

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Worth, Illinois, part of the Greater Chicago Area. This Curaleaf offers a long-term, triple net (NNN) lease with two, five-year tenant renewal options. There are 10 percent rent increases every five years throughout the base term and option periods. The property underwent a complete renovation in 2019. The sale of recreational cannabis is legal in Illinois, which means that anyone 21 and older can purchase. In 2023, adult-use cannabis tax revenue in Illinois topped alcohol. Since passing recreational cannabis in 2019, Illinois has emerged as one of the largest cannabis markets in the country, with total sales approaching $2 billion in 2023. Since its inception, Curaleaf has acquired multiple brands, creating the largest cannabis company in the U.S. and among the largest globally. Curaleaf has a market leading U.S. presence across 17 states with 147 dispensary locations and well over 900 wholesale partner accounts nationwide. This Curaleaf is part of the Chicago metro, one of the largest metros in the nation, and is only 24 miles from the city of Chicago. The property is located on South Harlem Avenue with a traffic count of 36,500 vehicles daily and is within close proximity to the entrance/exit ramps for Interstate 294 with a daily traffic count of more than 133,000 vehicles. Interstate 294 is a major highway in the Chicago Metropolitan Area that plays a significant role in connecting various suburbs, including Worth, to the city. The subject property is located directly across the street from Water’s Edge, an 18-hole golf course and club. Curaleaf also benefits from being only three miles from Moraine Valley Community College, and the Chicago Ridge Mall, a popular shopping destination in the Chicago metro area. The property is also just 10 miles from Chicago Midway International Airport, which is the second-largest airport in the Chicago metro and the state of Illinois and serves more than 20 million passengers annually.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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