Algonquin Multi-Tenant Outparcel

Asset Type

Retail

Address
1492-1496 S Randall Rd Algonquin, IL United States 60102-5919
Asking Price

S$5,269,000

Sq Footage

7,926

Year Built

2005

Cap Rate

7.00%

Additional Attributes

Property Description

Multi-tenant retail building that is an outparcel to a Walmart Supercenter at the intersection of South Randall and County Line roads in Algonquin. The asset includes three corporate tenants, including FedEx Office and Print Services, Vitamin Shoppe, and Bentley’s Pet Stuff. The first two tenants have historical occupancy, while Bentley’s Pet Shoppe has a new lease. Bentley’s has taken the pet supplies market by storm, expanding from 1 store to over 100 in a little over 2 years. Located in a dense, active retail corridor with 3.7 million sq. ft of retail space, with names such as Dick’s Sporting Goods, TJ Maxx, JCPenney, Target, Michael’s, Costco and many more. Over 50,000 residents with an average household income of over $100,000 within a 3-mile radius. Great opportunity for a retail investment with high credit strength, modern construction and in a premium retail location within the Chicago MSA.

Investment Highlights

  • Fee simple interest
  • Property features 7.5 years of weighted average lease term remaining
  • Contractual rent growth
  • Minimal landlord responsibilities
Listing Contacts
Alex Sharrin
Alex Sharrin
SVP, Capital Markets
+65 3159 4021
IL - 475.170243
Nicholas Kanich
Nicholas Kanich
SVP, Capital Markets
+65 3159 4021
IL - 475147401
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