Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 100% fee simple interest in the Jack’s Corner (“The Property”), a Class “A”, 16,940 square-foot retail strip center located in Skokie, IL (Chicago MSA). The multi-tenant retail center features a blue-chip tenant lineup including a Drive-Thru Starbucks, Aspen Dental, AT&T, and European Wax Center. Additionally, there has been tremendous recent leasing activity including a 10-year renewal from Starbucks, an early 5-year renewal from Aspen Dental, a new 10-year Lease with VCA, and a new 7-year lease with Intense OUD. Built in 2017, the property features a high end brick & stone façade, carefully groomed landscaping, zero deferred maintenance, and 8-years remaining on the roof warranty. The investment also provides triple net leases with a weighted average lease term of nearly 7 years and strong contractual rent increases that will drive organic NOI growth for a new owner. The Property is ideally positioned in Skokie, an extremely dense and affluent demographic locale within the northern Chicago suburbs. The Property boasts average household incomes north of $125,000 within a 1-mile radius and a population of more than 700,000 residents within 5-miles. Strategically situated along Touhy Ave, the center features direct frontage and convenient access along the submarket’s main retail corridor with immediate visibility to more than 41,000 VPD. In addition, the Property is set immediately West of Interstate 94 (I- 94), a main arterial thoroughfare with impressive traffic counts of over 150,000 vehicles per day and located less than 15 miles north of downtown Chicago, IL. The immediate trade area is host to an ever-increasing plethora of investment grade and national retailers including Walmart, Jewel- Osco, Dick’s Sporting Goods, Fresh Farms Market, Ross, Best Buy, ULTA, AMC, and many others. The Property is offered free and clear of debt at a 6.65% cap rate totaling $10,225,000.