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2100 - 2196 N Elston AveChicago, IL 60614
Elston Retail Collection
Asset ClassRetail
Deal Size: $72.5 MAccess Data Room
overview of deal

Overview

The Boulder Group is pleased to exclusively market one of the highest-profile and successful retail properties in Chicago. Kohl’s, Best Buy and BMO have anchored this center for over 20 years.

 

The long-term stability of this meticulously maintained property is attributed to its extraordinary location, high visibility, easy access, ample parking (4.75:1) and strong demographics. The property is located two miles north of downtown Chicago on the Kennedy Expressway (I-90) at Armitage Avenue between the affluent communities of Lincoln Park (60614) on the east and Bucktown (60622/60647) on the west. The property is immediately adjacent to the Armitage Avenue exit ramps, enjoys exceptional visibility and easy access from the Kennedy Expressway. Over 200 million vehicles drive by this location each year. These unique attributes ensure this property will always be in high demand and continuously occupied.

 

This 100% leased property consists of Kohl’s, Best Buy, BMO (triple net ground leases with corporate guarantees) and Chicago Speech Therapy. Kohl’s ground lease consists of an approximately 128,000 sf building and expires in 2030. Best Buy’s ground lease consists of an approximately 45,000 sf building and recently exercised the first option of their ground lease expiring in 2030 with no landlord concessions. The BMO ground lease consists of a 4,750-sf building and recently signed a new, 10-year ground lease expiring in 2036. Chicago Speech Therapy recently signed a new 10-year lease for the 8,500-sf building previously occupied for 10 years by Bubbles Academy with rent expected to commence April 2026.

 

The Kohl’s and Best Buy stores are top company performers. BMO has annual deposits in excess of $100 million (per FDIC). Best Buy and BMO Bank hold investment-grade credit ratings from Standard & Poor’s (BBB+ and A+, respectively).

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Investment Highlights

STRONG AND DURABLE TENANCY

  • Kohl’s recognized in the top 3% of all locations by Placer.ai
  • Best Buy exercised it’s first renewal option in Spring 2025 without landlord concession
  • BMO Bank recently signed a new 10-year lease
  • Chicago Speech Therapy signed a new 10-year lease commencing April 2026
  • Fully occupied – 100%
  • Both Best Buy (S&P: BBB+) and BMO (S&P: A-) are investment grade
  • An option to assume an approximately $58 million 3.65% interest rate loan through November 2029

 

HIGHLY VISIBLE AND DESIRABLE INFILL LOCATION

  • Chicago, IL – The third most populous city in the United States
  • Affluent area featuring $225,000+ average household income within 1 mile
  • Located in the vibrant Bucktown neighborhood
  • High visibility along the I-90/Kennedy Expressway (315,000 vehicles per day)
  • 559,000 people live within a three-mile radius
  • 900 parking spaces – 3-story parking garage (580 spaces) and surface parking (320 spaces))
  • Convenient walking distance to the Clybourn Metra Station
  • Nearby national tenants: Mariano’s, Jewel, ALDI, The Home Depot, Burlington, Ross, Midtown Athletic Club, Menards, Costco, and many others
2100 - 2196 N Elston AveChicago, IL 60614

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Listing provided by Revere CRE