March 14, 2023 – Mark Heidecke of Horvath & Tremblay has successfully completed the sale of Starbucks in Wheeling, Illinois. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,550,000.
Starbucks is located at 351 West Dundee Road in Wheeling, Illinois. The Property is improved by a stand-alone building which contains 2,104 square feet of leasable space, a drive-thru, and outdoor patio space. Starbucks recently waived their early termination right, demonstrating their commitment to the site and the market. Starbucks has 6+ years remaining on their lease with four (4), 5-year renewal options. The lease features attractive 10% rent increases at the start of each renewal option period. Starbucks is well located on the south side of Dundee Road with 23,775 vehicles passing by the site per day. Additionally, the Property is less than 1-mile east of Elmhurst Road and 1-mile West of Milwaukee Avenue. Elmhurst Road is a north/south artery which averages 17,800 vehicles per day near the center. Milwaukee Avenue runs through Chicago and into the northern suburbs and averages 26,900 vehicles per day near the site. The Property is adjacent to the Wheeling station on Metra’s North Central line, providing convenience for parents and staff commuting to/from the city and surrounding suburbs.
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.