Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in the Chase Center (the “Property” / “Investment”), a fully leased retail asset located at 3200 Chicago Road in South Chicago Heights, Illinois, a suburb of Chicago.
The 5,210-square-foot building sits on 21,451 square feet of land with 310 feet of frontage along Chicago Road and West Sauk Trail. The Investment is leased to two tenants—Chase Bank (NYSE: JPM) and Boost Mobile (NASDAQ: SATS)—both of whom have operated at the site for over 20 years. Each tenant recently renewed its lease for an additional five years, demonstrating a continued commitment to the location. Further securing cash flow, Chase holds an investment-grade “A” rating from S&P and accounts for 78% of the Investment’s gross income. Both tenants operate under net leases, providing minimal landlord responsibilities and protection against expense growth.
The Property occupies a high visibility, signalized hard corner with average daily traffic counts of 31,000 vehicles and serves as an outlot to the dominant Chicago grocer, Jewel-Osco (a subsidiary of Albertsons). The Property is surrounded by several national brands, including McDonald’s, Walgreens, Dunkin, AutoZone, and Burger King.
⦿ 20-YEAR TENANT HISTORY
⦿ PUBLICLY TRADED ANCHOR TENANT
⦿ PRIME CORNER OUTLOT TO DOMINANT GROCER JEWEL-OSCO
⦿ DOMINANT NATIONAL BRANDS ON NET LEASES
⦿ STRONG RETAIL CORRIDOR & SOLID DAILY TRAFFIC COUNTS
⦿ INFILL DEMOGRAPHICS