June 18, 2021 – Dan Tilsner of Horvath & Tremblay has successfully completed the sale of Starbucks & Jimmy John’s in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer in this transaction at a sale price of $1,925,000.
Starbucks & Jimmy John’s is located at 3232-3234 W Foster Avenue in Chicago, Illinois. The two-tenant, fee simple Property includes a 3,020 square foot building on a 0.07-acre corner lot. Starbucks has been operating at the Property since 2007 and has 6+ years remining on their corporate lease with four (4), 5-Year Renewal Options. Jimmy John’s has also been at the Property since 2007 and recently signed a 10-year lease extension. Starbucks and Jimmy John’s are both on net leases with the Tenants reimbursing for CAM, Insurance and Property Taxes. The Property is exceptionally well located at the signalized intersection of W Foster Avenue and N Sawyer Avenue in Chicago’s North Park neighborhood. The Property is located directly across the street from the main entrance of North Park University (enrollment of 3,200), and less than ½-mile from Northeastern Illinois University (enrollment of 9,000). The Property is 0.6-miles from the Kimball Avenue “L” Station and 2-miles from Interstate 94. The property benefits from outstanding pedestrian foot traffic and also sees more than 23,500 vehicles per day along W Foster Avenue.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.