Rare Opportunity to Own Two Adjacent Parcels
This offering allows for the ownership of two adjacent parcels, ensuring future flexibility and assemblage potential. These two tenants are well established, one of them being located at the site for over 15 years and the other a leading coffee chain throughout the world.
Extremely Dense & Affluent Suburb
The property is located in Glen Ellyn, an established upper-middle class suburb of Chicago. 106,000 people reside within a 3-mile radius of the site and the average household income within a mile is over $134,000.
Annual Rent Increases
Both subject properties have annual rent increases to improve the already impressive yield throughout the investment period and help hedge against inflation. Dunkin Donuts’ renewal option includes annual increases, as well. Short Term Loans rent has increased continuously throughout the over 15 years they have been located at the site.
Major Interstate Exposure
The subject site is less than a mile West of Interstate 355 on Roosevelt Road. This ease of accessibility is convenient for customers heading to work on the busy corridor with traffic counts of 43,000 per day. With over 126,600 vehicles per day at the intersection of Roosevelt Road and Interstate 355, the two parcels benefit from their excellent positioning within the retail trade area.
Commuters Destination Into the City
As commuters leave Glen Ellyn and head East towards Chicago, Dunkin Donuts is conveniently located on the “drive side” of the retail corridor allowing for easy access for customers seeking morning coffee.
Redevelopment Further Enhancing Area
Glen Ellyn is a well established and prominent Chicago suburb that is currently experiencing a surge of retail and residential re-development. The community’s affluent residents’ consistent retail consumption and desire for high end housing ensures the long term desirability of the subject sites.
Strong Personal Guarantees
Dunkin' Donuts is a franchisee team made up of 5 individuals, all of whom have substantial Dunkin' Donuts operation experience. Among the 5 members, they operate over 80 units throughout the Chicago MSA and beyond. Each of the 5 members have personally guaranteed the lease for the initial 5 years.
Long Term History at Site
Short Term Loans has been located at the subject site for over 15 years and has paid continuous rental increases since the commencement of their lease. The long history at the site confirms its established relationship with the area and their desire to maintain their presence long term.