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Meineke 385 E North Ave
4,862 SF Retail Building Northlake, IL 60164 £1,314,671 (£270/SF) 7.25% Net Initial Yield
Investment Highlights
- Brand New 15-Year Lease | Scheduled Rental Increases | Franchisee Guaranteed | Well-Known & Established Tenant
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Direct Residential Consumer Base |Strong Demographics in 5-Mile Trade Area
- Northlake Commons (293,523 SF) | Strong Tenant Presence | Bellwood Metra Station | O’Hare International Airport
- Located Along W. North Avenue | Centralized Location
Executive Summary
Meineke is strategically located along W. North Avenue with clear visibility and access to 48,000 vehicles passing by daily. The asset benefits from direct on/off ramp access to several major commuter routes including State Highway 45 (41,900 VPD), Interstate 290 (123,000 VPD), and Interstate 294 (171,400 VPD), making this an ideal, centralized location with easy commutes for both employees and customers. In addition, the property is one mile north of the Bellwood Union Pacific-West Metra Station, a major commuter rail line operating out of Chicago with an average of over 27,000 weekly passengers. The asset is ideally situated within a dense retail corridor, and is within walking distance to Northlake Commons, a 293,523 SF Community Center anchored by The Home Depot. Other surrounding national/credit tenants include Walmart, Sam’s Club, Value City Furniture, Menards, Harbor Freight Tools, Planet Fitness, and others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the site is within proximity to several single-family communities and multi-family complexes including Wisdom Village of Northlake (71 units), Northlake Apartments (97 units), Casa San Carlon (184 units), and more, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 358,700 residents and 202,600 daytime employees, with an average annual household income of $99,687.
Property Facts
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Service type
- 99,999 SF
- $9.99
- Lorem Ipsum
- Jan 0000
Since their first Houston, TX, location got up and running in 1972, they’ve worked to create a network of friendly, locally-owned shops led by true car care pros. From employment opportunities to financing options, learn more about what Meineke can offer! They offer a variety of services and repairs so that you can count on Meineke for all of your vehicle's needs.
Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
Service type | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
Parcel Numbers | Improvements Assessment | £49,986 | |
Land Assessment | £55,502 | Total Assessment | £105,487 |
PROPERTY TAXES
Presented by
Meineke | 385 E North Ave
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