Investment Highlights
- Extremely Limited Value-Add Offering Rare Institutional-Quality Retail Center with Structured On-Site Parking in Chicago's South Loop; Anchored by Nordstrom Rack, Burlington, & Five Below
- Immediate and Significant Leasing Upside Physical Occupancy of 57.0% Provides Investors with Unparalleled Growth Opportunities
- Robust and Actionable Growth Opportunities In-Place Rents & Occupancy Remain Significantly Below Market, Driving a 5-Year NOI CAGR Exceeding 42% and a 10-Year CAGR of Over 17%
- Significant Upside Through Below-Market Anchor Re-Leasing Burlington's Gross Rent of $24.25/SF—Equivalent to $12.82/SF NNN—Offers Significant Upside Potential Through Conversion to Market-Rate NNN Leasing with Full Expense Pass-Throughs
- High-Quality, Hard-to-Find National Daily Needs Tenant Mix 10 Established Brands Including Verizon, Orangetheory, Potbelly, Noodles & Co. & More
- Predominantly NNN Lease Structure 9 of 10 Tenants are on NNN Leases, Providing Highly Stable Cash Flow and Significantly Reducing Landlord Operating Expense Exposure
- Dynamic Leasing Momentum Recent Lease Extensions Secured from Nordstrom Rack, Men's Wearhouse, Potbelly, and Noodles & Co., Along with New Leases Executed with Orangetheory, Five Below, and X-Golf, Demonstrate Sustained Tenant Demand and Long-Term Occupancy Strength
Exclusively listed by
Broker of Record
Steven D. Weinstock
Senior Vice President/Regional Manager
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