|Current / Passing Rent||
|Remaining Term||9 years, 10 months|
|Tenant||Chicago Urban Air, LLC|
|Lot Size||3.13 ACRES|
JLL is pleased to offer for sale the fee-simple interest in an Urban Air Trampoline Park located in Mokena, Illinois. The subject Asset is located the in Chicago MSA, within a family-oriented and affluent suburb. The Property is positioned within the Mokena Town Square grocery-anchored shopping center with tenants Brookhaven Marketplace, Sport Clips, and various other national retailers. Chicago Urban Air, LLC d/b/a Urban Air Adventure Park, is the premier operator and franchisor of active family entertainment centers. Urban Air is a Dallas based franchise with 151 existing locations, with plans for 300 total locations by 2020.
•10 years of the primary term, on a net lease with landlord responsibilities limited to repairs and replacements to structural portions of the building.
•The lease features 10% rental increases every five years through the primary term and $1 PSF (±10%) increases in each of the two, five-year renewal options.
•Route 45/La Grange Road is highly-trafficked with nearly 50,000 vehicles per day and proximity to another 104,000 vehicles via Interstate 80
•Mokena Towne Square is a grocery-anchored lifestyle center with retailers including Brookhaven Marketplace, Sports Clips, Popeyes, etc.
•Other national retailers in the area include Home Depot, Staples and Goodwill
•Solid retail fundamentals, with over half of the households within 1-mile making over $100,000
•47% of households have children and over 25% of the population is under 18 within 1-mile
•Partnered with private equity sponsors MPK Equity Partners and AHR Growth Partners in March 2018, which further validated the concept and provided development capital to continue expanding the footprint
•Founded in 2011 and has expanded to 200+ locations in four countries with plans for 300+ by 2020
•CEO motivated to continue growing by 75 franchises per year
•Ranked #1 in Best of Best category and #2 in New Franchises List by Entrepreneur Magazine in 2019