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Thorntons Ground Lease, Cicero, IL

Thorntons Ground Lease

IL, United States

Price $4,100,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type
Rental Increases 10% Rental Increases Every 5 Years
Year Built Under Construction: 2016
Building Size 4,400 SF; 14 Fueling Stations
Lot Size 1.4 Acres (60,984 SF)
Status Sold
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

ABSOLUTE NET GROUND LEASE, PROVIDING PASSIVE INVESTMENT
» 10% rental increases every five years throughout firm term and option periods
» With over $2.3 billion in annual sales, Thorntons was ranked 202nd in Forbes magazine’s annual list of “500 Largest Privately Held Companies”

THORNTONS HAS A LONG-STANDING OPERATION HISTORY SINCE 1987: OVER 28 YEARS OF SUCCESSFUL OPERATION
» Thorntons is committed to the site with recent 20-year lease extension and expansion
» Tenant providing extensive capital into the new prototype with expanding fueling and c-store
» Thorntons distributes its own fuel through a wholly-owned subsidiary, Thornton Transportation, providing an additional competitive advantage

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» South Cicero Avenue – 43,200 AADT
» Outparcel to regional shopping and entertainment center, featuring major national tenants such as AMC Theaters
» Menard’s outparcel location

CENTRAL CHICAGO MSA LOCATION WITH ROBUST DEMOGRAPHICS
» Nearly one million people in a five-mile radius
» Close proximity to Downtown Chicago and Midway International Airport
» Less than seven miles from Downtown Chicago

Click Here to Download Offering Memorandum


Property Description

SOLD
The property is located on South Cicero Avenue, with excellent access and visibility to 43,200 vehicles per day. The property is outparcel to Hawthorne Works, a regional shopping and entertainment center featuring major retailers like AMC Theatres, Fallas, Famsa, Dollar Tree, Rent-A-Center, Rainbow, Chipotle, Taco Bell, and Bank of America. Located in a dense retail corridor, the site is surrounded by several large shopping plazas, including Cicero Market Place, anchored by Target, Sam’s Club, Home Depot, and Food 4 Less, and including Ross, Payless, GameStop, and others. Other retailers near the property include Walmart Supercenter, Walgreens, Aldi, Dollar General, and Mattress Firm.
The property benefits from its close proximity to downtown Chicago, which is just over six miles away. Additionally, Chicago Midway International Airport, the second busiest airport in Illinois, is just over four miles from the property. Due to its convenient central location, the property is located in a very densely populated area; nearly one million people live within a five-mile radius of the site, providing an extremely large customer base for Thorntons.

Contact Us About This Property

Ryan Forsyth
Executive Director
415.228.9114
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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