July 27, 2022 – Brian Gerth and Zach Smith of Horvath & Tremblay have successfully completed the sale of Starbucks in Grayslake, Illinois. Horvath & Tremblay exclusively represented the seller and procured the buyer in this transaction at a sale price of $1,350,000.
Starbucks is located at 775 East Belvidere Road in Grayslake, Illinois. Starbucks currently has 5+ years remaining on their 10-year, double-net lease with three, 5-year renewal options remaining. The lease features an exceptional 24.4% rental increase at the start of the first option period and 10% increases at the start of the subsequent two option periods. Starbucks is well-located between the intersection of East Belvidere Road with IL-83 and a Jewel-Osco-anchored retail center. The location is close to stops on two Metra lines and is just a mile from downtown Grayslake. The area benefits from an array of national and local retailers, employers, and attractions that drive traffic and bring in consumers. The Property sees more than 30,600 vehicles per day at the intersection of East Belvidere Road and IL Route 83.
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.