Crystal Lake, IL - Bohl Farm Marketplace Inline Tenants

Description:

SRS Real Estate Partners-Midwest, LLC is pleased to present the opportunity to acquire the fee simple interest in the inline retail component of Bohl Farm Marketplace, a 100% occupied, big box anchored retail center located in Crystal Lake, Illinois (Chicago MSA). The offering consists of 45,261 square feet leased to three nationally recognized retailers: Michaels, Daiso, and Five Below. All three tenants operate under leases that are net in nature, reducing the risk of expense slippage for a future investor. Furthermore, the Property benefits from an 8.4-year weighted average lease term and contractual rental increases for all three tenants, providing a hedge against inflation while significantly reducing near-term rollover risk. Michaels, the largest tenant representing approximately 39% of the rentable area and 55% of current base rent, recently commenced a new 10-year lease in April 2025, while Daiso also commenced a new 10-year lease in March 2025. Five Below has approximately eight years of remaining lease term through August 2034.

Bohl Farm Marketplace is strategically positioned along Northwest Highway/U.S. Route 14, which experiences approximately 24,700 vehicles per day, within one of Crystal Lake’s primary retail corridors. Northwest Highway/U.S. Route 14 is a major arterial that provides efficient commutes and connects the northwestern suburbs of Chicago. Furthermore, the Property is ideally positioned within Bohl Farm Marketplace, a 369,000+ SF power center anchored by Target, Kohl’s, Fresh Thyme Farmers Market, and Planet Fitness, which attracts more than 3.7 million visitors annually and ranks in the top 80th percentile of community shopping centers in Illinois (per Placer.ai). Other nearby national/credit tenants include Sams Club, Walmart Supercenter, Home Depot, Hobby Lobby, Menards, Aldi, Ross, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Additionally, the property is adjacent to Water’s Edge at Three Oaks, a transformative mixed-use redevelopment of the former Crystal Court Shopping Center. At full build-out, the approximately 30-acre development is planned to feature 260 residential units, approximately 40,000 square feet of retail and restaurant space, and public open space. The 5-mile subject trade area is supported by more than 122,000 residents and 52,000 daytime employees who boast extremely affluent average household incomes of more than $140,000.

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