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Fitness Center

LA Fitness | New 20-Year Lease

5701 W Touhy Ave, Niles, IL 60714

Listing Price: $13,210,423

Cap Rate
6.10%
Tenant Name
LA Fitness
Years Remaining On Lease
19.5
Gross SF
33,299
Guarantor
Corporate Guarantee
Rentable SF
33,299
Price/Gross SF
$396.72
Lease Type
Double Net
Rent Per Square Feet
$24.20

Investment Overview

Marcus & Millichap is pleased to present LA Fitness in Niles, Illinois. LA Fitness is the largest non-franchised fitness operator in the nation. It is number one on the Top 100 Clubs list for the seventh consecutive year (2020) and has over 700 locations in the united states and Canada. The rare, new 20-year double-net lease with rental increases every five years has limited landlord responsibility. Corporately guaranteed Fitness International Limited Liability Company with two, five-year options remaining. The property is situated in a mature submarket with extremely high barriers to entry and home to four million square feet of retail space. Located on a heavily traveled retail thoroughfare with 38,100 vehicles per day along Touhy Avenue. The property is highly visible with spotlight access and has 160 feet of frontage along Touhy Avenue. Located less than one mile west of the Interstate 94 Interchange with 170,600 vehicles passing per day. The irreplaceable real estate is surrounded by nation’s largest retailers including Target, Costco, Walmart, Dick’s Sporting Goods, Best Buy, Walgreens and many more. Adjacent to the property is the Village Crossing Shopping Center (722,394 square feet of retail). Across from the property is Pointe Plaza (193,011 square feet of retail). Affluent demographics with 182,697 people living within three miles of subject property and an average household income within one mile of $141,897.

Investment Highlights

  • National Tenant | LA Fitness | Largest Non-Franchised Fitness Operator in the Nation
  • Rare, New 20-Year Lease with Rental Increases Every Five Years
  • Situated in a Mature Submarket with Very High Barriers to Entry
  • Irreplaceable Real Estate Surrounded by Nation's Largest Retailers
  • Heavily Populated with Affluent Demographics

Exclusively Listed By

Fitness Center

LA Fitness | New 20-Year Lease

Listing Price: $13,210,423

Cap Rate
6.10%
Tenant Name
LA Fitness
Years Remaining On Lease
19.5
Gross SF
33,299
Guarantor
Corporate Guarantee
Rentable SF
33,299
Price/Gross SF
$396.72
Lease Type
Double Net
Rent Per Square Feet
$24.20

Investment Highlights

  • National Tenant | LA Fitness | Largest Non-Franchised Fitness Operator in the Nation
  • Rare, New 20-Year Lease with Rental Increases Every Five Years
  • Situated in a Mature Submarket with Very High Barriers to Entry
  • Irreplaceable Real Estate Surrounded by Nation's Largest Retailers
  • Heavily Populated with Affluent Demographics

Investment Overview

Marcus & Millichap is pleased to present LA Fitness in Niles, Illinois. LA Fitness is the largest non-franchised fitness operator in the nation. It is number one on the Top 100 Clubs list for the seventh consecutive year (2020) and has over 700 locations in the united states and Canada. The rare, new 20-year double-net lease with rental increases every five years has limited landlord responsibility. Corporately guaranteed Fitness International Limited Liability Company with two, five-year options remaining. The property is situated in a mature submarket with extremely high barriers to entry and home to four million square feet of retail space. Located on a heavily traveled retail thoroughfare with 38,100 vehicles per day along Touhy Avenue. The property is highly visible with spotlight access and has 160 feet of frontage along Touhy Avenue. Located less than one mile west of the Interstate 94 Interchange with 170,600 vehicles passing per day. The irreplaceable real estate is surrounded by nation’s largest retailers including Target, Costco, Walmart, Dick’s Sporting Goods, Best Buy, Walgreens and many more. Adjacent to the property is the Village Crossing Shopping Center (722,394 square feet of retail). Across from the property is Pointe Plaza (193,011 square feet of retail). Affluent demographics with 182,697 people living within three miles of subject property and an average household income within one mile of $141,897.

Exclusively Listed By

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