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954 W Monroe St - NNN Single Tenant 7-Eleven (Dark) 2,518 SF Retail Condo Unit Offered at $1,300,000 in Chicago, IL 60607
INVESTMENT HIGHLIGHTS
- Corporate NNN lease | Tenant exercised its 2nd 5-year extension in June of 2024
- Great downtown Chicago West Loop location in 101-unit constructed condo building built in 2005
- No Gas Station Component involved
- Store is presently dark with rent payable until May of 2030
- Investment Grade Tenant rated A and Baa2
- Tenant Leases 2 indoor heated parking spaces and Tenant pays Condo Association dues, Real Estate taxes, and all utilities
EXECUTIVE SUMMARY
1st floor, dark 7-Eleven NNN investment property leased until 5/30/2030.. 954 W Monroe sits at the lighted intersection of Monroe and Morgan Streets in the heart of the trendy West Loop of downtown Chicago. The Residence at 950 W. Moroe is a 101-unit upscale condo building built in 2005.
PROPERTY FACTS
| Total Building Size | 184,536 SF | Typical Floor Size | 20,298 SF |
| Property Type | Multifamily (Condo) | Year Built | 2005 |
| Property Subtype | Apartment | Lot Size | 0.55 AC |
| Building Class | B | Parking Ratio | 1.48/1,000 SF |
| Floors | 8 |
| Total Building Size | 184,536 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 8 |
| Typical Floor Size | 20,298 SF |
| Year Built | 2005 |
| Lot Size | 0.55 AC |
| Parking Ratio | 1.48/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Range
- Tub/Shower
SITE AMENITIES
- Business Center
- Fitness Center
- Property Manager on Site
- Storage Space
- Elevator
1 UNIT AVAILABLE
Unit 7-Eleven
| Unit Size | 2,518 SF | Sale Type | Investment or Owner User |
| Price | $1,300,000 | Cap Rate | 8.97% |
| Price Per SF | $516.28 | NOI | $116,652 |
| Condo Use | Retail | No. Parking Spaces | 2 |
| Unit Size | 2,518 SF |
| Price | $1,300,000 |
| Price Per SF | $516.28 |
| Condo Use | Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.97% |
| NOI | $116,652 |
| No. Parking Spaces | 2 |
DESCRIPTION
SVN is pleased to present the exclusively listed Single-Tenant NNN Corporate leased 7-Eleven property presently dark, a street-level, 2,518 square feet condo unit. Located at the lighted intersection of Monroe and Morgan. The property is located in Chicago’s West Loop and is adjacent to the hot Fulton Market area. The storefront is located at the base of the 101-unit 950 Monroe condo building. Two (2) interior parking spaces (P-19 & P-20) come with the property. 7-Eleven pays rent for these two parking spaces.
SALE NOTES
7-Eleven signed a 15-year NNN lease starting in 2005 with 3 five-year options to renew. In 2020, 7-Eleven entered into negotiations with the present owner to exercise its first 5-year option. The Tenant in 2024 exercised its 2nd 5-year extension, which brings the lease term to May 31, 2030. In September of 2024, 7-Eleven decided to close this store along with 500 other stores.
Floor Plan
Floor Plan
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 101 | - | - |
Presented by
954 W Monroe St - NNN Single Tenant 7-Eleven (Dark)
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