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Davita, Chicago, IL

Davita

Price $3,947,000
Cap Rate 5.50%
NOI $217,062
Lease Term 15 Years
Lease Type NNN, With Tenant Responsible For Taxes, Insurance, And All Nonstructural Maintenance
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2019
Building Size Tenant Leasing 7,000 SF, With The Option For Expansion
Lot Size +/- 0.404 (17,599 SF)
Status Available
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael Marks
Managing Director
312.470.2317
michael.marks@cushwake.com


Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Evan Halkias
Managing Director
312.470.2318
evan.halkias@cushwake.com

Investment Highlights

LONG-TERM NNN LEASE WITH STRONG CORPORATE GUARANTY
» New 15-year NNN lease with three five-year options
» 10% rental increases ever five years, providing a hedge against inflation
» Corporate guaranty from DaVita Inc. (NYSE: “DVA), a Fortune 500 company

HIGH-TRAFFIC LOCATION IN PRIME RETAIL CORRIDOR
» High daytime population and vehicle traffic due to strong demand generators in surrounding area
» 26th Street boasts the second highest grossing shopping district in Chicago, only behind the famous Mag Mile
» Hard corner location with excellent visibility and access to 14,800 vehicles per day

CENTRALLY LOCATED IN CHICAGO MSA
» Central location just six miles from downtown Chicago
» Located in a very densely populated are, with 1,057,408 residents living within five miles
» Large daytime population of 860,721 daytime employees within a fivemile radius
» Close to several schools, including Maria Saucedo Scholastic Academy (1,185 students), North Lawndale College Prep High School (805 students),
and McCormick Elementary School and Madero Middle School (1,101 students)

EXTENSIVE 2019 REMODEL
» Extensive remodel due to be completed in October 2019
» 24 dedicated parking spaces in an area where surface parking is sparse



Property Description

The property is conveniently located at the hard corner of West 26th Street and South Sacramento Avenue, with excellent visibility and access to 14,800 vehicles per day. The property is prominently located along the 26th Street corridor, which is the second highest grossing shopping district in the city, generating $900 million dollars in sales each year. The 26th Street corridor is filled with more than 500 vibrant markets, taquerias, and bakeries. Notable tenants near the property include Panda Express, Walgreens, Popeyes, and McDonald’s. Other retailers in the nearby area include Walmart Supercenter, Home Depot, Sam’s Club, AMC Theatres, Target, AutoZone, Dollar Tree, and Planet Fitness.

The property benefits from its central location just six miles from downtown Chicago. Several schools are located nearby, including Maria Saucedo Scholastic Academy (1,185 students), North Lawndale College Prep High School (805 students), and McCormick Elementary School and Madero Middle School (1,101 students). Located near large employers and major industrial sites, the property is supported by a large daytime population of 860,721 daytime employees within a five-mile radius. Additionally, the property is located in a very densely populated are, with 1,057,408 residents living within five miles.

Contact Us About This Property

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