Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1555 South Lake Street (the “Property”), a newly-renovated multi-tenant retail investment prominently located in Mundelein, Illinois.

The ±89,357 square foot Property is 97.52% leased and anchored by LA Fitness with additional national tenants including the Picklr, The Dog Stop, and Kids Empire, all of which operate on net leases with 10.87 years of weighted average lease term (WALT) remaining. The Picklr is a premier indoor pickleball court operator with plans to expand to over 500+ locations by 2025. The Property is part of the greater Townline Square Shopping Center, with notable neighboring tenants including Jewel Osco, Dollar Tree, Goldfish Swim School, Chipotle, O’Reilly Auto Parts, and Panera Bread. Other nearby retail tenants include McDonald’s, Burger King, Taco Bell, Tropical Smoothie Café, Culver’s, Popeyes Louisiana Kitchen, Dunkin’, The Salvation Army, and more.

The Property is positioned on the exceptional and highly trafficked corner of South Lake Street and Townline Road, which experiences 48,600 vehicles per day. Coined as “the heart of Lake County”, the village of Mundelein offers convenient access to and from the City of Chicago and other surrounding regions as well as significantly lower real estate taxes compared to those of Cook County. Mundelein is thriving, with over 1,126 new residential units recently delivered or soon to be delivered in 2023. The retail inventory within 3 miles of the Property boasts a 95.2% occupancy, showcasing a strong market for both local and national businesses.

The Property benefits from an outstanding set of 5-mile demographics including a population of 124,800, and aver-age household income of $157,000, and a median home value of $399,000.