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Urban-High Street

7-Eleven

191 W Adams St, Chicago, IL 60604

Listing Price: $5,049,000

Cap Rate
5.00%
Tenant Name
7-Eleven
Years Remaining On Lease
5.3
Guarantor
Corporate Guarantee
Rentable SF
2,700
Lease Type
Double Net
Rent Per Square Feet
$93.50

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 191 West Adams Street (the Property), a 2,700-square-foot ground-floor retail space in the base of the historic JW Marriott Chicago hotel, currently leased to 7-Eleven with over five years of term remaining on their original 10-year double net lease. The retail parcel is located in a 1.1 million square foot mixed use building, including the 610-key JW Marriott Chicago Hotel, as well as the 232-key The LaSalle Chicago Autograph Collection hotel (opening April 2022), and 221,000 square feet of office space. Located on the hard corner of Wells and Adams streets, the Property sits in Chicago’s central Loop and financial district, and is also positioned directly beneath one of the busiest “L” stops in downtown Chicago. The Property is only one block from Chicago’s Willis Tower, and three blocks from Union Station, Amtrak’s flagship station in the Midwest that services 140,000 passengers daily. Neighboring retail tenants include McDonald’s, Walgreens, Blackwood BBQ, Subway, FedEx, Starbucks, Citibank, and numerous others. This offering presents the unique opportunity to acquire a corporately guaranteed double net lease with significant rent increases in the five renewal options in the bustling central loop of downtown Chicago.

Investment Highlights

  • Positioned Directly Beneath Quincy "L" Station - with over 2.2 Million Annual Riders
  • Located in the Heart of the Loop with Employee Population of over 350,000 within Five Mile Radius
  • Rental Increases Every Five Years in both Initial Term and Options
  • Historic Downtown Location with Recent $396 Million Restoration to JW Marriott Hotel
  • Rapidly Growing Local Population - Estimated Growth Rate of 6.57% within One Mile Radius

Exclusively Listed By

Urban-High Street

7-Eleven

Listing Price: $5,049,000

Cap Rate
5.00%
Tenant Name
7-Eleven
Years Remaining On Lease
5.3
Guarantor
Corporate Guarantee
Rentable SF
2,700
Lease Type
Double Net
Rent Per Square Feet
$93.50

Investment Highlights

  • Positioned Directly Beneath Quincy "L" Station - with over 2.2 Million Annual Riders
  • Located in the Heart of the Loop with Employee Population of over 350,000 within Five Mile Radius
  • Rental Increases Every Five Years in both Initial Term and Options
  • Historic Downtown Location with Recent $396 Million Restoration to JW Marriott Hotel
  • Rapidly Growing Local Population - Estimated Growth Rate of 6.57% within One Mile Radius

Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in 191 West Adams Street (the Property), a 2,700-square-foot ground-floor retail space in the base of the historic JW Marriott Chicago hotel, currently leased to 7-Eleven with over five years of term remaining on their original 10-year double net lease. The retail parcel is located in a 1.1 million square foot mixed use building, including the 610-key JW Marriott Chicago Hotel, as well as the 232-key The LaSalle Chicago Autograph Collection hotel (opening April 2022), and 221,000 square feet of office space. Located on the hard corner of Wells and Adams streets, the Property sits in Chicago’s central Loop and financial district, and is also positioned directly beneath one of the busiest “L” stops in downtown Chicago. The Property is only one block from Chicago’s Willis Tower, and three blocks from Union Station, Amtrak’s flagship station in the Midwest that services 140,000 passengers daily. Neighboring retail tenants include McDonald’s, Walgreens, Blackwood BBQ, Subway, FedEx, Starbucks, Citibank, and numerous others. This offering presents the unique opportunity to acquire a corporately guaranteed double net lease with significant rent increases in the five renewal options in the bustling central loop of downtown Chicago.

Exclusively Listed By

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