February 28, 2022 – Dan Tilsner of Horvath & Tremblay has successfully completed the sale of a three-tenant retail center in Chicago, Illinois. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,533,766.
The three tenant Retail Center is located at 5600-5604 N Clark Street and 5601 N Ashland Avenue in Chicago, Illinois. The three-tenant retail center includes two buildings, a 2,394 square foot single tenant Jiffy Lube with 3 service bays (Ground Lease), and a 2,406 square foot building leased to Dunkin’ Donuts and Primo Pizza (Fee Simple) on a 0.13-acre corner lot. All three of the tenants enjoy a long operating history at the Property and are on net leases. Jiffy Lube has 4+ years remaining on their ground lease with two (2), 5-Year Renewal Options. Dunkin Donuts just exercised their first renewal option and has 5+ years remaining on their lease with two (2), 5-Year Renewal Options remaining. Primo Pizza has been at this location for more than 30 years and has 1.5 years remaining on their lease. The Property is exceptionally well located, occupying the southern portion of a city-block along W Bryn Mawr Avenue at the signalized intersections with N Clark Street and N Ashland Avenue in Chicago’s Andersonville neighborhood. The Property benefits from two signalized intersections, access along three roads and is located adjacent to McDonald’s and 500 feet from Jewel-Osco, the area’s primary grocery store. The Property is also 0.5-miles from the Bryn Mawr “L” Station, and US Routes 14 and 41.
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.