2451 S Randall Rd
Algonquin, IL 60102
Ashley Furniture Home Store-Price Reduced · Retail Property For Sale

Marcus & Millichap is pleased to present Ashley HomeStore in Algonquin, Illinois; 50 miles northwest of Chicago. After 10 years of successful operation at this location, the tenant demonstrated commitment by exercising two of their five-year extension options early in December 2016. One, five-year extension option remains. Ashley Furniture currently has 9.5 years remaining on a double-net (NN) lease with minimal landlord responsibilities. The lease features 4 percent rent bumps every five years. The lease is guaranteed by Rockledge Furniture, Limited Liability Company (LLC), which is a 20-unit entity and a wholly owned subsidiary of Ashley Furniture Industries, Incorporated (Inc). This Ashley HomeStore benefits from its visibility on South Randall Road with more than 350 feet of frontage. South Randall Road is a major north-south corridor connecting Crystal Lake and Aurora, stretching 31 miles and seeing more than 33,900 vehicles per day (VPD). The asset is located within a dense trade area. There is nearly two million square feet of retail within three miles, anchored by strong national credits including: Wal-Mart, Target, Home Depot, Lowes, Costco, and Trader Joe’s. The asset also benefits from affluent demographics. There are more than 139,000 residents with an average household income (AHHIC) greater than $104,000 within five miles. Additional tenants in the immediate vicinity include: Meijer, Kohl’s, HomeGoods, T.J. Maxx, Dollar Tree, The RoomPlace, CVS/ Pharmacy, JCPenney, Walgreens, The Great Escape, Enterprise, Hobby Lobby, Golden Corral, Sleep Number, Chili’s, FedEx, Sonic, Chase Bank, and many more.