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ROSS Dress for Less 6921 Dempster St 22,000 SF Retail Building Morton Grove, IL 60053 $4,900,000 ($222.73/SF) 7.41% Cap Rate
INVESTMENT HIGHLIGHTS
- February 2027 Rent Bump | Ross Dress for Less signed a 10-year lease in 2020 which includes a 4.5% rent bump in February 2027.
- High Traffic Counts in a Desirable Location
- Adjacent to The Residences at Sawmill Station | 250 Apartments
- Investment-Grade Tenancy with Corporate Guaranty
- Complementary Tenancy
- Robust Chicago MSA
EXECUTIVE SUMMARY
CBRE’s Net Lease Property Group is pleased to extend the opportunity to acquire a fee-simple interest in a 22,000 square-foot 10-year lease with Ross Dress for Less. The lease has over six years of term remaining, including a corporate guarantee, a rental bump in February 2027, and 10% bumps in each of the four 5-year extension options.
The Property is ideally positioned in the dense and affluent Chicago suburb of Morton Grove at the high-traffic intersection of Dempster Street and Waukegan Road. Morton Grove is located in Cook County, approximately 16 miles northwest of downtown Chicago. The asset’s primary trade area boasts an impressive demographic profile, with area residents earning an average household income of $147,890 within a three-mile radius. Ross Dress for Less is located within Sawmill Station, a 26-acre mixed-use redevelopment that includes shopping, dining, and residential. Tenants at the center include Amazon Fresh, Kohl’s, Dollar Tree, LA Fitness, Cooper’s Hawk, Starbucks, Aspen Dental, Chipotle, Urgent Care, Raising Cane’s, and Bank of America. The Residences at Sawmill Station includes 250 apartments.
The Property is ideally positioned in the dense and affluent Chicago suburb of Morton Grove at the high-traffic intersection of Dempster Street and Waukegan Road. Morton Grove is located in Cook County, approximately 16 miles northwest of downtown Chicago. The asset’s primary trade area boasts an impressive demographic profile, with area residents earning an average household income of $147,890 within a three-mile radius. Ross Dress for Less is located within Sawmill Station, a 26-acre mixed-use redevelopment that includes shopping, dining, and residential. Tenants at the center include Amazon Fresh, Kohl’s, Dollar Tree, LA Fitness, Cooper’s Hawk, Starbucks, Aspen Dental, Chipotle, Urgent Care, Raising Cane’s, and Bank of America. The Residences at Sawmill Station includes 250 apartments.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$363,000
|
$16.50
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $363,000 |
| Annual Per SF | $16.50 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
22,000 SF
Building Class
C
Year Built
2020
Price
$4,900,000
Price Per SF
$222.73
Cap Rate
7.41%
NOI
$363,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.51
Lot Size
0.99 AC
Zoning
C1
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- ROSS Dress for Less
- Retailer
- 22,000 SF
- -
- Double Net
- Jan 2032
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| ROSS Dress for Less | Retailer | 22,000 SF | - | Double Net | Jan 2032 |
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 10-19-127-006-0000 | Improvements Assessment | $828,647 |
| Land Assessment | $271,238 | Total Assessment | $1,099,885 |
PROPERTY TAXES
Parcel Number
10-19-127-006-0000
Land Assessment
$271,238
Improvements Assessment
$828,647
Total Assessment
$1,099,885
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ROSS Dress for Less | 6921 Dempster St
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