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Pier 9 Seafood & Bar 704 N Janes Ave 6,600 SF Retail Building Bolingbrook, IL 60440 $2,058,000 ($311.82/SF) 7.50% Cap Rate
Investment Highlights
- 10-year lease featuring above market 2.5% annual rental increases throughout the base term and options
- Across the street from The Promenade Bolingbrook - a 500,000+ SF regional shopping mall subject to 3.5M annual visitors
- Experienced restaurateur with 9 different restaurant concepts within the county (5 Hook & Reel, 2 K-Pot, 1 Cajun Crab Shack, and 1 sushi restaurant)
- Meijer outparcel on large 1.76 acre lot
- The shopping center is going through a major upgrade with numerous tenants backfilling the Macy’s and other buildings
- Affluent Chicago submarket – $132,000 average household incomes within a 5-mile radius of the subject property
Executive Summary
A brand-new 10-year lease featuring above market 2.5% annual rental increases throughout the base term and option periods. Subject property is across the street from The Promenade Bolingbrook – a 500,000+ SF regional mall – and benefits from the exposure to the 3.5M annual visitors.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,600 SF
Building Class
C
Year Built/Renovated
2007/2025
Price
$2,058,000
Price Per SF
$311.82
Cap Rate
7.50%
NOI
$154,350
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.76 AC
Frontage
317’ on N Janes Ave
Nearby Major Retailers
Property Taxes
| Parcel Number | 12-02-01-401-016 | Improvements Assessment | $117,447 |
| Land Assessment | $334,020 | Total Assessment | $451,467 |
Property Taxes
Parcel Number
12-02-01-401-016
Land Assessment
$334,020
Improvements Assessment
$117,447
Total Assessment
$451,467
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Presented by
CPP CRE ILLINOIS, LLC
Pier 9 Seafood & Bar | 704 N Janes Ave
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