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Grocery Store

Save a Lot Food Stores | Infill Location

344 E 63rd St, Chicago, IL 60637

Listing Price: $3,260,000

Cap Rate
6.75%
Tenant Name
Save-a-Lot
Years Remaining On Lease
5.2
Guarantor
National Franchisor
Rentable SF
16,290
Lease Type
Double Net
Rent Per Square Feet
$13.50

Investment Overview

Marcus & Millichap is pleased to present Save-a-Lot Food Store located in Chicago, Illinois. Save-a-Lot is a national tenant with over 1,000 locations across the U.S. The lease is guaranteed by Moran Foods, Limited Liability Company. The store is owned and operated by Yellow Banana, Limited Liability Company. Yellow Banana is one of Save-a-Lot’s largest retail partners. Yellow Banana is slated to complete a remodel to all stores in 2022. Essential grocery retailer with long term operating history. There is a 10-year operating history with recent lease extension in 2019. There is minimal full-service grocery store competition within immediate area. Tenant provides convenient access to quality foods at affordable prices. Excellent real estate fundamentals with rental increases every five years with next increase set to occur on March 1, 2024. Modest, replaceable rental rate of only $13.50 per square foot. There are over 292,000 people living within a three-mile radius of the property. The property has two points of full ingress/egress. The property is situated adjacent to CTA Green line train stop and CTA bus stop. Property is located in a qualified opportunity zone. Close proximity to the University of Chicago campus and two hospitals and one mile to University of Chicago (17,857 students, 2020 enrollment). Less than one mile from St. Bernard Hospital with 90-licensed beds. 1.2 miles to University of Chicago Medicine Hospital with 811-licnsed beds.

Investment Highlights

  • National Tenant with Over 1,000 Locations Across the U.S.
  • Essential Grocery Retailer with Long-Term Operating History
  • Excellent Real Estate Fundamentals | Save-A-Lot has 10-Year Operating History with Recent Lease Extension in 2019
  • Minimal Full-Service Grocery Store Competition Within Immediate Area
  • Rent Increases Every Five Years with Next Increase Set to Occur on 3/1/2024
  • Close Proximity to the University of Chicago Campus and Two Hospitals
  • One Mile to University of Chicago | 17,857 Students
  • 1.2 Miles to University of Chicago Medicine Hospital

Exclusively Listed By

Grocery Store

Save a Lot Food Stores | Infill Location

Listing Price: $3,260,000

Cap Rate
6.75%
Tenant Name
Save-a-Lot
Years Remaining On Lease
5.2
Guarantor
National Franchisor
Rentable SF
16,290
Lease Type
Double Net
Rent Per Square Feet
$13.50

Investment Highlights

  • National Tenant with Over 1,000 Locations Across the U.S.
  • Essential Grocery Retailer with Long-Term Operating History
  • Excellent Real Estate Fundamentals | Save-A-Lot has 10-Year Operating History with Recent Lease Extension in 2019
  • Minimal Full-Service Grocery Store Competition Within Immediate Area
  • Rent Increases Every Five Years with Next Increase Set to Occur on 3/1/2024
  • Close Proximity to the University of Chicago Campus and Two Hospitals
  • One Mile to University of Chicago | 17,857 Students
  • 1.2 Miles to University of Chicago Medicine Hospital

Investment Overview

Marcus & Millichap is pleased to present Save-a-Lot Food Store located in Chicago, Illinois. Save-a-Lot is a national tenant with over 1,000 locations across the U.S. The lease is guaranteed by Moran Foods, Limited Liability Company. The store is owned and operated by Yellow Banana, Limited Liability Company. Yellow Banana is one of Save-a-Lot’s largest retail partners. Yellow Banana is slated to complete a remodel to all stores in 2022. Essential grocery retailer with long term operating history. There is a 10-year operating history with recent lease extension in 2019. There is minimal full-service grocery store competition within immediate area. Tenant provides convenient access to quality foods at affordable prices. Excellent real estate fundamentals with rental increases every five years with next increase set to occur on March 1, 2024. Modest, replaceable rental rate of only $13.50 per square foot. There are over 292,000 people living within a three-mile radius of the property. The property has two points of full ingress/egress. The property is situated adjacent to CTA Green line train stop and CTA bus stop. Property is located in a qualified opportunity zone. Close proximity to the University of Chicago campus and two hospitals and one mile to University of Chicago (17,857 students, 2020 enrollment). Less than one mile from St. Bernard Hospital with 90-licensed beds. 1.2 miles to University of Chicago Medicine Hospital with 811-licnsed beds.

Exclusively Listed By

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