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Dollar Tree 11055 S Western Ave 15,717 sq ft Retail Property Chicago, IL 60643 £1,931,467 (£122.89/sq ft) 7% Net Initial Yield
INVESTMENT HIGHLIGHTS
- New 10-year lease+ years remain
- Affluent demographics – Average household income within 1-mile is $122,642
- 449,479 people live within a 5-mile radius
- Several recent capital improvements made including parking lot sealing & striping
- $0.50/SF rent increases in each renewal option
- Proximity to Interstate 57 (145,000 VPD)
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Dollar Tree located in Chicago, Illinois. The property
underwent extensive renovations in 2023 for Dollar Tree’s tenancy, coinciding with the start of their long-term lease, which runs through
November 2033. The lease includes three 5-year renewal options, each featuring a $0.50/SF rent increase at commencement. Significant
capital improvements were completed in preparation for occupancy, including a newly sealed and striped parking lot, upgraded parking lot
lighting, an updated fire sprinkler and electrical system, and a refreshed monument sign. Additionally, the HVAC system was replaced in 2018.
Dollar Tree is an investment-grade tenant with an S&P credit rating of BBB.
The 15,717 square-foot building benefits from its hard corner position along South Western Avenue which experiences over 27,900 vehicles per
day. Additionally, the subject property is within proximity to Interstate 57 (145,000 VPD). The asset is in an affluent pocket of Chicago where
the average household income is $122,000 within 1-mile. It is also a densely populated area with 449,000 people living in a 5-mile radius.
Neighboring tenants include Fairplay Foods, NAPA Auto Parts, Meineke, PNC Bank, Buona Beef, U-Haul, and several others. Furthermore,
Morgan Park Highschool (1,200+ Students) is located less than one mile east of the property. This is an urban-infill location with high barriers
to entry for new tenants.
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500
company and operates 16,000 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics
network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point
variety chain under the Family Dollar banner.
underwent extensive renovations in 2023 for Dollar Tree’s tenancy, coinciding with the start of their long-term lease, which runs through
November 2033. The lease includes three 5-year renewal options, each featuring a $0.50/SF rent increase at commencement. Significant
capital improvements were completed in preparation for occupancy, including a newly sealed and striped parking lot, upgraded parking lot
lighting, an updated fire sprinkler and electrical system, and a refreshed monument sign. Additionally, the HVAC system was replaced in 2018.
Dollar Tree is an investment-grade tenant with an S&P credit rating of BBB.
The 15,717 square-foot building benefits from its hard corner position along South Western Avenue which experiences over 27,900 vehicles per
day. Additionally, the subject property is within proximity to Interstate 57 (145,000 VPD). The asset is in an affluent pocket of Chicago where
the average household income is $122,000 within 1-mile. It is also a densely populated area with 449,000 people living in a 5-mile radius.
Neighboring tenants include Fairplay Foods, NAPA Auto Parts, Meineke, PNC Bank, Buona Beef, U-Haul, and several others. Furthermore,
Morgan Park Highschool (1,200+ Students) is located less than one mile east of the property. This is an urban-infill location with high barriers
to entry for new tenants.
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a Fortune 500
company and operates 16,000 stores throughout the 48 contiguous U.S. states and Canada. Its stores are supported by a nationwide logistics
network of 24 distribution centers. Additionally, the company operates stores under the name of Dollar Bills, as well as a multi-price-point
variety chain under the Family Dollar banner.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Pharmacy
Property Size
15,717 sq ft
Costar Property Class
C
Year Built/Renovated
2002/2023
Price
£1,931,467
Price per sq ft
£122.89
Yield
7%
NOI
£135,203
Tenancy
Single
Number of Floors
1
Plot ratio
0.30
Total Plot Size
1.21 ac
Use Class
B2-2, Chicago
Parking
30 Spaces (1.91 Spaces per 1,000 sq ft Leased)
Frontage
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- Dollar Tree
- -
- -
- -
- Oct 2033
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| Dollar Tree | - | - | - | Oct 2033 |
Walk Score®
Easily Walkable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 25-18-317-001-0000 | Improvements Assessment | £91,148 |
| Land Assessment | £36,466 | Total Assessment | £127,615 |
PROPERTY TAXES
Parcel Number
25-18-317-001-0000
Land Assessment
£36,466
Improvements Assessment
£91,148
Total Assessment
£127,615
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Dollar Tree | 11055 S Western Ave
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