April 21, 2022 – Matt Nadler and Brendan Conway of Horvath & Tremblay have successfully completed the sale of 7-Eleven in Melrose Park, Illinois. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $7,800,000.
7-Eleven is located at 8600 W North Avenue in Melrose Park, Illinois. This is a new construction 7-Eleven that was completed in 2022. The property consists of a 4,650 square foot 7-Eleven with a gas station and a convenience store on 2.57-acres of land. 7-Eleven has a new 15-year corporate guaranteed Triple Net lease followed by four (4), 5-Year renewal options. The lease calls for attractive 7.5% rent increases every five years throughout the primary term and at the start of each renewal option. The Property also benefits from a clear channel billboard that has a long-term lease with rental increases every five years. 7-Eleven is strategically located at the signalized intersection of W North Avenue, the area’s primary commercial corridor and N 1st Avenue. The Property is located adjacent to a newer construction Amazon Delivery Station and is surrounded by national retailers (including Target, Jewel-Osco, Costco and Chick-fil-A) driving traffic to the area. Additionally, the Property is seconds from Gottlieb Memorial Hospital and is 0.5-miles from Triton College.
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.