ALDI (Ground Lease) 5501 Harlem Ave Chicago, IL 60638 - NET LEASE INVESTMENT OFFERING - The Boulder Group
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
NET LEASE INVESTMENT OFFERING ALDI (Ground Lease) 5501 Harlem Ave Chicago, IL 60638
TABLE OF CONTENTS
TABLE OF CONTENTS
I. Executive Profile II. Location Overview III. Market & Tenant Overview
Executive Summary Building Photographs Demographic Report
Investment Highlights Drone Photographs Market Overview
Property Overview Aerial Tenant Overview
Site Plan
Map
NET LEASE INVESTMENT OFFERING
DISCLAIMER STATEMENT
DISCLAIMER The information contained in the following Offering Memorandum is proprietary and strictly confidential.
STATEMENT: It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made
available to any other person or entity without the written consent of The Boulder Group.
This Offering Memorandum has been prepared to provide summary, unverified information to prospective
purchasers, and to establish only a preliminary level of interest in the subject property. The information
contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not
made any investigation, and makes no warranty or representation.
The information contained in this Offering Memorandum has been obtained from sources we believe to be
reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained
herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no
warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
All potential buyers must take appropriate measures to verify all of the information set forth herein.
NET LEASE INVESTMENT OFFERING
EXECUTIVE SUMMARY
EXECUTIVE The Boulder Group is pleased to exclusively market for sale a newly constructed single tenant Aldi ground lease
SUMMARY: located in Chicago, Illinois. The property is strategically located at the corner of a signalized intersection with
access to Interstate 55. The new construction Aldi property features a long-term 20 year lease and five 5-year
renewal options. The lease is absolute triple net with zero landlord responsibilities.
The Aldi property is located at the hard corner of a heavily trafficked signalized intersection with excellent
visibility and access to both Harlem and Archer Avenue. The combined traffic count at the intersection exceeds
75,000 vehicles per days. The property is also located with immediate access to Interstate 55 (144,400 VPD) and
with close proximity to Chicago Midway International Airport. Retailers in the trade corridor include Walgreens,
Portillo’s, McDonald’s, Bank of America and Jewel-Osco. The Aldi grocery store is also near John F. Kennedy
High School (1,623 students) which drives regular traffic to the trade corridor. Additionally, the property is just
north of Toyota Park which is home of the Chicago Fire (MLS), Chicago Red Stars (NWSL) and Chicago Bliss
(LFL). The Aldi property is located in a dense infill location with high barriers to entry. The property required a
multi-parcel assembly as part of the original development. There are 19,764 people living within one mile of the
property and have an average household income of $84,740. Additionally, there are over 475,000 people living
within five miles of the property.
Headquartered in Batavia, Illinois, ALDI US now has more than 1,600 stores across 35 states, employs over 25,000
people and has been steadily growing since opening its first U.S. store in Iowa in 1976. Over the past decade, Aldi
has nearly doubled in size and by 2018, ALDI will bring its total number of US stores to nearly 2,000 and the
company has announced plans to expand to 2,500 locations by the end of 2022, which would make it the third
largest U.S. grocery chain by store count.
NET LEASE INVESTMENT OFFERING
INVESTMENT HIGHLIGHTS
INVESTMENT • Located in the city of Chicago
HIGHLIGHTS:
• Brand new construction
• 20 year ground lease
• Absolute triple net with zero landlord responsibilities
• Strategically located at the hard corner of a signalized intersection with combined traffic counts of 75,000+
VPD
• Located just off Interstate 55 (144,400 VPD)
• Immediately west of Chicago Midway International Airport
• Retailers in the trade corridor include Walgreens, Portillo’s, McDonald’s, Bank of America and Jewel-Osco
• Just north of Toyota Park which is home of the Chicago Fire (MLS), Chicago Red Stars (NWSL) and
Chicago Bliss (LFL)
• Dense infill location with high barriers to entry
• 19,764 people living within one mile of the property and have an average household income of $84,740
• Over 475,000 people living within five miles of the property
NET LEASE INVESTMENT OFFERING
PROPERTY OVERVIEW
PROPERTY
Price: $6,267,990
OVERVIEW:
Cap Rate: 4.25%
Net Operating Income: $266,390
Rental Escalations: $311,296 – First Option
$311,296 – Second Option
$326,860 – Third Option
$343,203 – Fourth Option
$360,363 – Fifth Option
Renewal Options: Five 5-Year
Lease Expiration Date: June 30, 2037
Tenant: Aldi, Inc.
Year Built: 2017
Lease Type: Ground Lease - No Landlord Responsibilities
Building Size: 18,897 SF
Land Size: 1.32 Acres
NET LEASE INVESTMENT OFFERING
BUILDING PHOTOGRAPHS NET LEASE INVESTMENT OFFERING
DRONE PHOTOGRAPHS NET LEASE INVESTMENT OFFERING
AERIAL NET LEASE INVESTMENT OFFERING
SITE PLAN NET LEASE INVESTMENT OFFERING
MAP NET LEASE INVESTMENT OFFERING
MAP
Lake Michigan
NET LEASE INVESTMENT OFFERINGDEMOGRAPHIC REPORT
DEMOGRAPHIC
Population 1-Mile 3-Mile 5-Mile
REPORT:
Total Population 19,764 120,885 475,304
Total Households 6,686 42,752 152,515
Income 1-Mile 3-Mile 5-Mile
Average Household Income $84,740 $80,475 $78,876
NET LEASE INVESTMENT OFFERINGMARKET OVERVIEW
MARKET Chicago, Illinois
OVERVIEW: Chicago is the most populous city in the Midwestern United States and the third most populous city
in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second
largest county in the United States. The Chicago MSA is the third most populated metropolitan area in
the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties.
Chicago has many nicknames, the best-known being the Windy City.
The Chicago metropolitan area is home to the corporate headquarters of 66 Fortune 1000 companies, including Boeing,
McDonald’s, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications
and infrastructure and O’Hare International Airport is the second busiest airport in the world in terms of traffic movement.
The metro is a major financial center in North America, and is home to the largest futures exchange in the United States, the
CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitiveness of financial
centers based on people, business environment, market access, infrastructure and general competitiveness. As of 2016, Chicago
had the third largest gross metropolitan product in the United States at $640 billion.
The city of Chicago also hosts 12 Fortune Global 500 companies and 17 Financial Times 500 companies. The city claims
two Dow 30 company: aerospace giant Boeing, which moved its headquarters from Seattle to the Chicago Loop in 2001 and
McDonald’s, who’s in the process of moving their headquarters from the Chicago suburbs to the Chicago West Loop. One
additional Dow 30 companies, Kraft Foods is in the Chicago suburbs, as are Sears Holdings Corporation and the technology
spin-offs of Motorola. The headquarters of United Continental Holdings are in the United Building and its operations center
and its United Airlines subsidiary are in the Willis Tower in Chicago.
Chicago attracts over 50 million domestic leisure travelers, 11 million domestic business travelers and 1.5 million overseas
visitors. These visitors contributed more than $14 billion to Chicago’s economy. Upscale shopping along the Magnificent Mile
and State Street, thousands of restaurants, as well as Chicago’s eminent architecture, continue to draw tourists. The city is the
United States’ third-largest convention destination. A 2011 study by Walk Score ranked Chicago the fourth most walkable of
the fifty largest cities in the United States.
www.cityofchicago.org
NET LEASE INVESTMENT OFFERINGTENANT OVERVIEW
TENANT Aldi
OVERVIEW: Aldi is the common brand of two German discount supermarket chains with over 10,000 stores in 20 countries, and an
estimated combined turnover of more than €50 billion. Based in Germany, the chain was founded by brothers Karl and Theo
Albrecht in 1946 when they took over their mother’s store in Essen, which had been in operation since 1913. The business
was split into two separate groups in 1960, that later became Aldi Nord, headquartered in Essen, and Aldi Süd, headquartered
in Mülheim.
For nearly 40 years, ALDI US has stuck to the same guiding principle: Great quality shouldn’t come at a high price; rather,
great quality should come with everyday low prices. Headquartered in Batavia, Illinois, ALDI now has more than 1,600 stores
across 35 states, employs over 25,000 people and has been steadily growing since opening its first US store in Iowa in 1976.
Over the past decade, Aldi has nearly doubled in size and by 2018, ALDI will bring its total number of US stores to nearly
2,000.
The no-frills grocery shopping experience focuses on customers first - delivering high quality food Aldi is proud to serve
their family, responsive customer service, everyday low prices and a quick-and-easy shopping experience with only four to
five aisles and all the essentials. Aldi carries the weekly must-haves and display them in their designed shipping boxes to help
save time and resources to restock shelves. Shoppers will find more than 90 percent of the groceries offered are under the
ALDI exclusive brands, hand-selected by ALDI to ensure that our products meet or exceed the national brands on taste,
quality and, of course, price. That means you don’t have to worry about which ketchup brand or Greek yogurt brand is best,
because we’ve specially curated the best products.
Website: www.aldi.com
Type: Private
Locations: 10,366
Year Founded: 1913
Headquarters: Germany
NET LEASE INVESTMENT OFFERINGRandy Blankstein
President
847.562.0003
randy@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
3520 Lake Avenue, Suite 203
Wilmette, IL 60091
www.bouldergroup.comYou can also read
