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Savers: Chicago, IL 2928 N Ashland Ave 24,526 SF Retail Building Chicago, IL 60657 $5,800,000 ($236.48/SF) 7.50% Cap Rate

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Investment Highlights

The property benefits from a brand-new roof with a 20-year roof warranty, valid through 2046.
This site is within 1 mile from nearly 30,000 households, placing a substantial built-in customer base within walking distance.
This is one of the few retail centers in Lakeview offering ample surface-level parking (via easement).

Within Chicago’s Primary Retail & Commercial Corridor.
Savers is ideally positioned within a premier shopping center anchored by a top-performing Jewel-Osco.

Executive Summary

Savers is ideally positioned within a premier shopping center anchored by a top-performing Jewel-Osco, which serves as a massive draw with over 1.33 million annual visits (Placer.ai). Other users within Ashland Wellington Plaza include Tide Laundromat, Szechuan Corner and Children’s Healthcare Associates. Set to open on June 18, 2026, Savers’ net lease will feature 10 years of primary term with a 10% rent increase in July 2031 and in each of the two, 5-year renewal options. Additionally, the lease is guaranteed by Savers Value Village, Inc.

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Storefront

Building Size

24,526 SF

Building Class

Year Built/Renovated

1994/2026

Price

$5,800,000

Price Per SF

$236.48

Cap Rate

7.50%

NOI

$435,000

Tenancy

Single

Building Height

1 Story

Loading Docks

1 Exterior

Building FAR

0.80

Lot Size

0.70 AC

Zoning

B5-2

Frontage

165’ on Ashland Ave

Bus Line

Pylon Sign

Signage

Retailer
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Jan 0000

Savers, also known as Value Village in some regions, is a publicly traded thrift store retailer headquartered in Bellevue, Washington. The company was founded in 1954 by Bill Ellison in San Francisco, California, and has grown into an international chain with locations across the United States, Canada, and Australia. Savers operates under a unique model by partnering with nonprofit organizations, purchasing donated goods from them, and reselling these items in its stores. This approach supports charitable organizations while promoting reuse and recycling. The company offers a wide range of secondhand merchandise, including clothing, footwear, furniture, electronics, and household goods. Over the decades, Savers has expanded its brand under different names, such as Value Village and Unique, depending on the region.