1505 Butterfield Rd
Aurora, IL 60502
Shell/ McDonald's · Retail Property For Sale

Marcus & Millichap is pleased to present an Absolute, Bondable, NNN Leased site in Aurora, Illinois. The property is managed by a regional Circle K operator and guaranteed by Shell Oil Company. The property is one of Shell' s multi-brand concept builds , constructed in 2007, and includes a freestanding Firestone Complete Auto Care facility, a McDonalds with a drive thru, and a Circle K convenience store with gas service. The McDonald's and Firestone are sublease tenants to the Shell Oil Company lease. The landlord holds zero responsibilities under the Shell Oil Company guaranteed lease. The subject property has seven years of base term remaining on a 15 year lease, with five, five-year options. In June of 2017, the base rent will increase by 15 percent, increasing the Cap Rate to 7.42 percent, with 10 percent bumps each option period. The property has non-recourse debt in place, at a rate of five percent, which balloons November of 2022 and will need to be assumed by a new purchaser. The City of Aurora is located 35 miles west of Chicago and it is the second most populous city in the state of Illinois. The city is accessible through five interchanges on the east/west tollway corridor. Corporate offices and commercial growth on the city' s east and west sides continue to expand the city' s boundaries, now stretching from Route 59 on the east to portions beyond Orchard Road on the west. The far east side of the city includes the regional Westfield Shoppingtown at Fox and residential areas and is projected to house 60,000 people within the next 20 years. The city extends into four counties, Kane, DuPage, Kendall and Will. There are six school districts and seven townships covered within the city limits. In 2002, the U.S. Census Bureau ranked the City of Aurora as the 34th fastest growing city in the United States, and the 13th fastest growing city with a population of over 100,000. Aurora' s population has spilled into Kendall County, the fastest growing county in Illinois, and according to recent statistics released in June, 2010, by CNN, is the fastest growing county in the United States. Aurora is on the edge of the Illinois technology and research corridor.