SamsBeauty Warehouse

Highlights:

• NEW LONG-TERM LEASE SamsBeauty Warehouse recently executed a brand-new 15-year lease with three 5-year options to extend, demonstrating a strong commitment to the site as well as the Bedford Park community. Additionally, the lease features 10% rent escalations every five years, including each option period.
• BEST IN CLASS NATIONAL & CREDIT SHADOW ANCHORS SamsBeauty Warehouse benefits from major retail traffic-driving shadow anchors Target (TGT \ NYSE) and The Home Depot (HD \ NYSE). Both shadow anchors provide exceptional drawing power to the center with a combined total of 2.3 million visits annually, according to Placer.ai data. Illinois’s 2nd most visited Walmart (WMT \ NYSE) is located just north of the subject offering, and Costco (COST \ NASDAQ) is located just south.
• BELOW MARKET RENTAL RATE An investor has the opportunity to acquire an asset featuring a below market rental rate in an extremely dense infill area with tight barriers to entry due to a lack of prime land left for development, resulting in minimal vacancy.
• HIGH VISIBILITY AND TRAFFIC COUNTS Bedford City Square features over 1,200 linear feet of frontage along the heavily trafficked Cicero Avenue, which averages 57,000 vehicles per day. SamsBeauty Warehouse is accessible via two primary points of ingress and egress located along Cicero Avenue and 73rd Street.
• STABLE DEMOGRAPHICS Bedford Park and the surrounding communities boast favorable demographics, with over 229,400 residents within a three-mile radius and an average household income in excess of $85,500.
• MAJOR INDUSTRIAL HUB Located immediately south of Midway International Airport (22 million passengers annually), Bedford Park is known as one of Chicago’s major industrial hubs, with 90% of its land area being devoted to industry.

Description:

Mid-America Real Estate Corporation has been retained on behalf of the ownership to sell the 100% fee simple interest in a newly redeveloped SamsBeauty Warehouse. The offering represents a rare opportunity to acquire an asset benefiting from excellent co-tenancy with The Home Depot, Target, and Cermark Fresh Market Grocery along Cicero Avenue within the dense, infill submarket of Bedford Park.

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