1740 Dempster St
Mount Prospect, IL 60056
7-Eleven (Dark) · Retail Property For Sale

Mount Prospect is a northwestern suburb of Chicago. The property is located at the signalized corner of Dempster Street and Algonquin Road (19,500 VPD). Additionally, the property is immediately off of Interstate 90. Retailers in the immediate area include Walmart Neighborhood Market, Walgreens, CVS, Jewel-Osco, Kohl’s, Chase and Bank of America. The 7-Eleven property is also located within close proximity to Robert Morris University of Arlington Heights (3,233 students). Mount Prospect is located approximately four miles north of O'Hare International Airport. 7-Eleven has three years remaining on their lease that expires December 31, 2021 allowing a future investor ample time to re-tenant the property. The income stream is guaranteed by 7-Eleven, an investment grade rated tenant with a Standard & Poor’s rating of “AA-”. Chicago’s local economy is healthy and a multitude of retailers' sales numbers continue to climb in the face of continual store closure announcements. Vacancies are below their historical average aided by minimal new development, though the closure of numerous big-box stores throughout the Chicago area will likely pressure metro-wide retail occupancy and will certainly push-up vacancies in power and neighborhood centers. Rents have increased over the past year, albeit modestly, though rental performance is highly bifurcated based upon property type and location. While fundamentals are healthy and rents are growing, sales activity has pulled back significantly, with 18Q2 on pace to be the lowest quarter for sales volume on record.