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Fitness Center

ILoveKickboxing

1720 W North Ave, Chicago, IL 60622

Listing Price: $1,800,000

Cap Rate
7.13%
Tenant Name
ILoveKickboxing
Years Remaining On Lease
3.9
Gross SF
3,707
Guarantor
Local Franchisee
Rentable SF
3,544
Price/Gross SF
$485.57
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.22

Investment Overview

Marcus & Millichap is pleased to present for sale the following single-tenant net-leased retail condo: the ILoveKickboxing gym located at 1720 West North Avenue in Chicago, Illinois. The original 10-year lease commenced in 2016 and has three-plus years remaining on its primary term with three percent (3%) annual increases and three, five-year options. The tenant operates under a NNN lease including its pro-rata share of roof & structure leaving minimal landlord responsibilities. The subject property is strategically located on North Avenue (23,900 VPD), a primary east-west thoroughfare, and benefits from its close proximity to Interstate 90/94. Located in the highly desirable Wicker Park neighborhood of Chicago, this neighborhood has excellent demographics, with 534,026 people within a one-mile radius and average household incomes in a one-mile radius in excess of $170,00. Throughout the years this area has become a trendy neighborhood to live in due to the rise in daytime and nightlife activities. ILoveKickboxing was founded in 2009 and began franchising locations in 2012, since then exponentially growing the business to include over a hundred locations across the United States and Canada. Their programs take the workouts of MMA fighters and simplify them into work at your own pace for anyone to enjoy and benefit from.

Investment Highlights

  • Located in the Highly Desirable Wicker Park/Bucktown Neighborhood
  • Healthy Increases of 3% Annually in the Base Term and Options
  • NNN Lease with Minimal Landlord Responsibilities
  • Strategically Located Along North Avenue (23,900 VPD) and Close Proximity and Easy Access to Interstate 90/94 (204,800 VPD).
  • Excellent Demographics | 534,026 People Within a Three-Mile Radius | Average Household Incomes in a One-Mile Radius in Excess of $170,00
  • Close Proximity to Lincoln Yards Development, a New 53 Acres Mixed-Use Development

Exclusively Listed By

Fitness Center

ILoveKickboxing

Listing Price: $1,800,000

Cap Rate
7.13%
Tenant Name
ILoveKickboxing
Years Remaining On Lease
3.9
Gross SF
3,707
Guarantor
Local Franchisee
Rentable SF
3,544
Price/Gross SF
$485.57
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.22

Investment Highlights

  • Located in the Highly Desirable Wicker Park/Bucktown Neighborhood
  • Healthy Increases of 3% Annually in the Base Term and Options
  • NNN Lease with Minimal Landlord Responsibilities
  • Strategically Located Along North Avenue (23,900 VPD) and Close Proximity and Easy Access to Interstate 90/94 (204,800 VPD).
  • Excellent Demographics | 534,026 People Within a Three-Mile Radius | Average Household Incomes in a One-Mile Radius in Excess of $170,00
  • Close Proximity to Lincoln Yards Development, a New 53 Acres Mixed-Use Development

Investment Overview

Marcus & Millichap is pleased to present for sale the following single-tenant net-leased retail condo: the ILoveKickboxing gym located at 1720 West North Avenue in Chicago, Illinois. The original 10-year lease commenced in 2016 and has three-plus years remaining on its primary term with three percent (3%) annual increases and three, five-year options. The tenant operates under a NNN lease including its pro-rata share of roof & structure leaving minimal landlord responsibilities. The subject property is strategically located on North Avenue (23,900 VPD), a primary east-west thoroughfare, and benefits from its close proximity to Interstate 90/94. Located in the highly desirable Wicker Park neighborhood of Chicago, this neighborhood has excellent demographics, with 534,026 people within a one-mile radius and average household incomes in a one-mile radius in excess of $170,00. Throughout the years this area has become a trendy neighborhood to live in due to the rise in daytime and nightlife activities. ILoveKickboxing was founded in 2009 and began franchising locations in 2012, since then exponentially growing the business to include over a hundred locations across the United States and Canada. Their programs take the workouts of MMA fighters and simplify them into work at your own pace for anyone to enjoy and benefit from.

Exclusively Listed By

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