Restaurant
Alter Brewing Co. Brewery + Kitchen
1170 W 22nd St, Oak Brook, IL 60523
Listing Price: $7,143,000
Investment Overview
Marcus & Millichap is pleased to offer for sale the fee simple interest in a 9,194-square-foot single-tenant brewpub restaurant (the Property) in Oak Brook, IL, in which Alter Brewing Co. has over 12 years remaining on its triple-net ground lease. The lease features a 10 percent rent increase every 5 years in the firm term and three 5-year renewal options.
The Property sits on a 0.30-acre parcel along 32,400+ AADT 22nd Street in the Oak Brook Commons mixed-use development, with visibility to 156,100+ AADT Interstate 88. Oak Brook Commons includes the 17-story, 250-unit One Oak Brook Commons residential rental building, a medical office, Gibsons, Fogo de Chão and Diamonds Direct.
Just west of the Property, open-air shopping mall Oakbrook Center generates over $1,200 in annual sales per square foot and is the second-largest shopping center in the Chicago MSA. Renovated in 2016, Oakbrook Center features both established luxury brands including Burberry, Gucci, Louis Vuitton, and Tiffany & Co. as well as trending digital natives Casper, Warby Parker and Vuori.
Amid affluent suburbs, the five-mile trade area sustains a daytime population of 406,212, a population density of 3,838 residents per square mile, and an average household income of $143,194. Oak Brook lies 18.1 miles west of the Chicago Loop, 21 minutes by Metra.
Founded in 2015, Alter Brewing Co. first opened a production brewery and taproom in suburban Downers Grove, IL, followed by a brewpub restaurant in St. Charles, IL. Opened in late 2022, the Property serves as a brewpub restaurant and a sour-beer fermentation facility.
This exclusive net-lease opportunity offers an irreplaceable retail parcel as well as the secure income of a long-term ground lease with generous rent increases.
Alter Brewing Co. Brewery + Kitchen
Investment Highlights
- NNN Ground Lease With Over 12 Years Remaining and Three 5-Year Renewal Options
- 10 Percent Rent Increase Every 5 Years in Firm Term and Options
- 2022 Build-to-Suit Brewpub With 9,194-Square-Foot Interior Featuring Sour-Beer Fermentation and 3,309-Square-Foot Patio
- Across From Oakbrook Center, a 2.2 Million-Square-Foot Super-Regional Mall Generating Over $1 Billion in Annual Sales
- Tenant Operates Three Suburban Chicago Locations and Distributes Canned Beer to 14 Counties
- Located 18.1 Miles West of Downtown Chicago, Affluent Oak Brook Has $233,663 AHHI and $852,687 Average Home Value
Exclusively Listed By
Listing Price: $7,143,000
Investment Highlights
- NNN Ground Lease With Over 12 Years Remaining and Three 5-Year Renewal Options
- 10 Percent Rent Increase Every 5 Years in Firm Term and Options
- 2022 Build-to-Suit Brewpub With 9,194-Square-Foot Interior Featuring Sour-Beer Fermentation and 3,309-Square-Foot Patio
- Across From Oakbrook Center, a 2.2 Million-Square-Foot Super-Regional Mall Generating Over $1 Billion in Annual Sales
- Tenant Operates Three Suburban Chicago Locations and Distributes Canned Beer to 14 Counties
- Located 18.1 Miles West of Downtown Chicago, Affluent Oak Brook Has $233,663 AHHI and $852,687 Average Home Value
Investment Overview
Marcus & Millichap is pleased to offer for sale the fee simple interest in a 9,194-square-foot single-tenant brewpub restaurant (the Property) in Oak Brook, IL, in which Alter Brewing Co. has over 12 years remaining on its triple-net ground lease. The lease features a 10 percent rent increase every 5 years in the firm term and three 5-year renewal options. The Property sits on a 0.30-acre parcel along 32,400+ AADT 22nd Street in the Oak Brook Commons mixed-use development, with visibility to 156,100+ AADT Interstate 88. Oak Brook Commons includes the 17-story, 250-unit One Oak Brook Commons residential rental building, a medical office, Gibsons, Fogo de Chão and Diamonds Direct. Just west of the Property, open-air shopping mall Oakbrook Center generates over $1,200 in annual sales per square foot and is the second-largest shopping center in the Chicago MSA. Renovated in 2016, Oakbrook Center features both established luxury brands including Burberry, Gucci, Louis Vuitton, and Tiffany & Co. as well as trending digital natives Casper, Warby Parker and Vuori. Amid affluent suburbs, the five-mile trade area sustains a daytime population of 406,212, a population density of 3,838 residents per square mile, and an average household income of $143,194. Oak Brook lies 18.1 miles west of the Chicago Loop, 21 minutes by Metra. Founded in 2015, Alter Brewing Co. first opened a production brewery and taproom in suburban Downers Grove, IL, followed by a brewpub restaurant in St. Charles, IL. Opened in late 2022, the Property serves as a brewpub restaurant and a sour-beer fermentation facility. This exclusive net-lease opportunity offers an irreplaceable retail parcel as well as the secure income of a long-term ground lease with generous rent increases.
Exclusively Listed By
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