100% Leased 2-Tenant Retail Building – 7-Eleven (S&P: AA-) and Magnum Insurance (30 Chicago Locations) – The Property consists of a 4,680-square-foot retail building that is 100% leased to 7-Eleven Inc. (Corporate) and Magnum Insurance, Inc.
— 7-Eleven is the largest chain in the convenience-retailing industry, operating more than 67,000 stores in 17 countries, including 10,000 in North America. 7-Eleven ranked #2 on Entrepreneur magazine’s 2018 Top Global Franchises List and #32 on the Stores magazine’s Top 2018 Retailers and reported revenues of $12 Billion in 2018.
— Magnum Insurance Inc. provides insurance services for Auto, Dental, Visioin, Life, Health, Home, Rental and more. Magnum is a Chicago staple, operating throughout the Chicago area for over 38 years. They operate more than 30 offices and have an A+ rating with the Better Business Bureau.
Dense Infill Location – Over 902,000 People & 334,000+ Households within 5 Miles – Frontage Along Diversey Ave – Off-Street Parking – The property is located within a dense infill location with over 902,000 people and 334,000 households within a 5-mile radius. The subject property offers frontage along Diversey Ave, and is just one block from N. Narragansett Ave, which sees traffic counts of 20,000+ cars per day. In addition, the property ideally features off-street parking for convenience and in/out access for customers.
7-Eleven: 24 Hour Store – Successful 13-Year Operating History – Magnum Insurance: New Lease Commenced in February 2019 – This 7-Eleven location is a 24-hour store and has successfully operated at this location since 2006. There are seven years remaining on their triple-net lease. The lease features a 3% rent increase in 2021, offering an investor a passive investment with rent growth. Magnum Insurance commenced its new 5-year lease in February 2019.
Shadow Anchored by 551,000-Square-Foot Brickyard Mall – Co-Anchored by Target, Lowe’s, Jewel-Osco – Strong Draw to the Trade Area – The subject property is ideally located across from the Brickyard Mall, a 551,000-square-foot regional shopping mall anchored by big box retailers Lowe’s and Target, and grocer, Jewel-Osco, as well as national retail tenants including Five Below, Marshalls, Dressbarn, Pier 1 Imports, and Shoe Carnival, and restaurants such as McDonald’s, Buffalo Wild Wings, Jimmy John’s, Chipotle, and Starbucks.
Located in Chicago – 3rd Largest Metropolitan Area in the U.S. – Large Labor Pool, Diversified and Balanced Economy – The subject property is located in Chicago, the most populous city in the Midwest, and the third most populous city in the United States. Chicago is an international hub for finance, culture, commerce, industry, technology, telecommunications, and transportation. The Chicago area has one of the highest gross domestic products (GDP) in the world, generating $680 billion in 2017, The city and its surrounding metropolitan area contain the third-largest labor pool in the United States with about 4.63 million workers, and it has one of the world’s most diversified and balanced economies, with no single industry employing more than 14% of the workforce.