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Dollar General, Channahon, IL

Dollar General

Channahon, IL 60410

Price $1,836,000
Cap Rate 5.75%
NOI $105,552
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases in Option Periods
Year Built 2020
Building Size 9,100 sf
Lot Size 1.342 Acres (58,458 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #0171655

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» Guaranteed by Dollar General Corporation (NYSE: “DG”)
» Dollar General’s annual revenue exceeds $27.8 billion
» Dollar General Ranked #119 on Fortune 500 list (11 consecutive years of Fortune 500 ranking growth)
» Dollar General operates more than 16,350 locations in 45 states and has plans for significant future growth
» No landlord management, with the tenant responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» Ideal investment opportunity for an out-of-area investor

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» High-traffic location along U.S. Route 6/West Eames Street, with excellent visibility and access to 14,900 vehicles per day
» Central location at the confluence of several highly trafficked thoroughfares, including Interstate 80 (55,600 AADT) and Interstate 55 (93,400 AADT)
» Located in a robustly affluent area, with an average annual household income of $112,222 within a one-mile radius of the site
» 29,082 residents within a five-mile radius of the property, establishing a large customer base for the site
» New Amazon fulfillment center recently opened in Channahon (1,000+ new jobs)
» Minutes from Minooka Community High School, Minooka Intermediate School, and Minooka Junior High School (4,460 students combined)

NEW 2020 CONSTRUCTION
» High-quality construction to be completed in 2020
» Features Dollar General’s latest prototype
» 21-foot pylon sign facing U.S. Route 6, increasing visibility to the location



Property Description

The property has a high-traffic location along U.S. Route 6/West Eames Street, with excellent visibility and access to 14,900 vehicles per day. The site is also centrally located at the confluence of several highly trafficked thoroughfares, including Interstate 80 (55,600 AADT) and Interstate 55 (93,400 AADT). The property is located in an affluent area, with 29,082 residents living within a five-mile radius of the site and an average annual household income of $112,222 within one mile of the site. Dollar General is poised to grow along with the location, with a projected 10 percent average annual household income increase within five miles of the site in the next five years. A new 1.1 million-SF Amazon fulfillment center is under construction in Channahon and scheduled to be completed in late 2020 (projected 500 new jobs). The site benefits from being centrally located within minutes of Channahon’s largest schools, including Minooka Community High School, Minooka Intermediate School, and Minooka Junior High School (4,460+ students combined). The property maintains a beneficial proximity to popular area tourist attractions, including Des Plaines Dolomite Prairies Land and Water Reserve, Midewin National Tallgrass Prairie, and Dollinger Family Farm.

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