Starbucks 1835 Belvidere rd

The Boulder Group is pleased to exclusively market for sale a single-tenant net leased Starbucks positioned within the Chicago MSA in Grayslake, Illinois. Constructed in 2024 specifically for Starbucks, the property offers a brand-new 12-year lease, set to commence in October 2024. The lease includes 10% rental escalations in the 8th year and during each of the four, 5-year renewal options. Starbucks is responsible for all day-to-day maintenance of the property. This property is also a relocation store from a nearby inferior space. Additionally, Starbucks is an investment grade rated tenant – Standard & Poor’s: BBB+.
The 2,278-square-foot building benefits from its location in Grayslake, a northern suburb of Chicago. The property is positioned near the intersection of Belvidere Road and US Highway 45, which see a combined traffic volume of 67,000 vehicles per day. The property is situated near two major traffic drivers in the area. The first is the College of Lake County, located less than a five-minute drive away, where 17,600 students were enrolled in 2023. The second is the Northwestern Medicine Emergency Center, a prestigious facility that features a Level II Trauma Center, emergency room, and outpatient services. Additionally, the asset is located across from County Faire Plaza, home to major tenants such as Walgreens, McDonald’s, Rosati’s Pizza, Premier Veterinary, and several others. The surrounding area is densely populated, with over 134,000 residents living within a five-mile radius. Furthermore, the three-mile radius boasts an affluent population with an average household income of $162,044.
Starbucks Corporation (NASDAQ: SBUX) is an American global coffee company and coffeehouse chain based in Seattle, Washington. Starbucks was founded in 1985 as a local coffee bean roaster and retailer and has grown into the largest coffeehouse company in the world. In recent years, Starbucks has expanded exponentially, more than doubling its units over the past 10 years. The number of Starbucks stores worldwide exceeded 35,000 in 2024. Starbucks is an investment grade rated company with a Standard & Poor’s rating of BBB+.