This property is Off-Market
6020 North Cicero Avenue
Chicago, IL 60646 ·
41,148 SF · Retail For Sale
|Building Size||41,148 SF||Occupancy||100%|
|Property Use Type||Net Lease Investment with 10+ years left on lease|
|Listing ID: 16799555||Date Created: 08/16/2010||Last Updated: 02/16/2011|
The subject property is a 41,148 square foot retail unit and accompanying parking garage currently leased to Whole Foods. The lease commenced in February 2007 for fifteen year base term with five, five-year options. Whole Foods is operating under a net-lease, and therefore is responsible for their pro-rata share of taxes, insurance and common area maintenance.
The Whole Foods sits at ground level to a multi-story 136 unit condominium complex located on the north side of Chicago. The complex has 167 parking spaces comprised of 37 surface and 130 underground garage spaces designated solely for use by Whole Foods patrons. Visible from Interstate 94, the property sits at the lighted, hard corner of Cicero and Peterson at the doorstep to on and off-ramps for the Interstate 94 Peterson exit. Traffic counts at the intersection are excess of 57,000 vehicles per day, with an additional 160,000 on Interstate 94. Whole Foods does report sales and currently operates at a low rent expense of roughly 2.5 percent total sales.
- Corporately Guaranteed Lease by Whole Foods, Inc.
- Highway Visibility from Interstate 94 - 160,000 Vehicles Per Day
- Net-Lease - Little Landlord Responsibilities
- Over 12 Years Remaining on 15 Year Lease
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