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5518 W Chicago Ave
11,650 SF of Retail Space Available in Chicago, IL 60651
SPACE AVAILABILITY (1)
Display Rent as
- SPACE
- SIZE
- TERM
- RENT
- SERVICE TYPE
| Space | Size | Term | Rent | Service Type | ||
| 1st Floor | 11,650 SF | Negotiable | Upon Application Upon Application Upon Application Upon Application | TBD |
1st Floor
• Hard corner of signalized intersection • Heavy Traffic Counts from Chicago and Central Ave • Parking on site • Pylon Signage
- Parking on site
- Signalized intersection
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing agent for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 5518 W CHICAGO AVE , CHICAGO, IL 60651
| Total Space Available | 11,650 SF | Gross Internal Area | 12,156 SF |
| Property Type | Retail | Year Built | 1974 |
| Property Subtype | Freestanding |
| Total Space Available | 11,650 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Gross Internal Area | 12,156 SF |
| Year Built | 1974 |
ABOUT THE PROPERTY
Quantum Real Estate Advisors, Inc. (“QREA”) has been retained to exclusively offer for sale an 11,650 square-foot single-tenant retail building located at 5518 W Chicago Ave., Chicago, IL. The free-standing building is leased to Dollar General (S&P: BBB) and is on a 10-year net lease, which commenced in August of 2015 and features (4) 5-year options with 10% rental increases every 5 years. The building was originally constructed in 1975 and sits on approximately 0.58 acres of land. The site benefits from excellent visibility being located directly on the major east/west retail thoroughfare of Chicago Ave., which sees over 8,836 VPD. Additionally, the site is located just east of the Chicago Ave. and Central Ave. lighted intersection which sees an additional 16,373 VPD. The asset is located in a middle-class area, with over 162,486 residents and an average household income of $87,200 within 2 miles of the site. Notable surrounding national tenants include: McDonald’s, Subway, Dunkin’, Walmart, Menards, Ace Hardware, Planet Fitness, and more.
NEARBY MAJOR RETAILERS
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5518 W Chicago Ave
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