Retail

517-521 S. Schmale Road - Carol Stream, IL

517-521 S. Schmale Road Carol Stream, Illinois United States 60188
Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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Key facts

Year Built 2021
Building Area Net
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in the newly constructed three-tenant retail strip center (the “Property” or “Asset”) located at 517–521 South Schmale Rd., in Carol Stream, IL. The Asset consists of 4,412 rentable square feet and is 100% occupied by Tropical Smoothie Café, Stella's Place, and Jersey Mike’s Subs. Tropical Smoothie Café and Jersey Mike’s have in-place 10-year leases with two 5-year extension options and three 5-year extension options, respectively. Stella’s Place (Laredo Hospitality), recently executed a 6-year lease with three 5-year extension options. The leases have attractive rent bumps in contractual term and each subsequent renewal option. The Property is ideally situated at the intersection of Schmale Rd. and Geneva Rd., a highly trafficked retail corridor with 45,000 vehicles per day. The Asset fronts Home Depot (789.3K visits in the last 12-months) and sits next to a new construction (2021) 7Eleven Gas Station featuring a Convenience Store and Arby's restaurant. The retail trade area also includes high quality national tenants such as Jewel-Osco, Aldi, Starbucks, Jimmy John's, Lou Malnati's, Chase Bank & PNC Bank.


Investment highlights

BEST-IN-CLASS RETAIL TENANCY

  • Jersey Mike’s Subs has 2,000+ locations and 265+ new locations under development in nearly all 50 states.
  • Tropical Smoothie was ranked #10 overall on the 2022 franchise 500 list and #1 in their respective juice and smoothie category.
  • Stella’s Place is one of the fasting growing gaming café franchises in America.

OPTIMAL LONG-TERM NET LEASE STRUCTURE

  • All tenants are operating on double-net lease structures with 8.6 years of WALT, featuring minimal landlord responsibility and significant contractual rent increases

STRATEGIC REAL ESTATE POSITIONING

  • The Asset fronts Home Depot, which saw 789.3K visits in the last 12-months.
  • Adjacent to a new construction (2021) 7Eleven Gas Station + Convenience Store and an Arby's restaurant.
  • Strategically positioned within a main retail corridor at the intersection of Geneva Rd. and Schmale Rd. (45,000 VPD).


Last Updated Date: 04 Apr 2022

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Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

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Last Updated Date: 04 Apr 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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