Crestwood, IL - Meineke

Description:

SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, franchisee guaranteed, Meineke Car Care investment property with 5 bays including 2 truck bays located in Crestwood, IL (Chicago MSA). The franchisee operates 17 locations across the Chicagoland area and is the area franchisee for both Chicagoland and Northwest Indiana. The tenant has over 12 years remaining on the primary lease term, with five (5) 5-year renewal options, supporting long-term income stability. The lease features 10% rental increases every five years, beginning in February 2028, and continuing through the initial term and option periods, providing consistent NOI growth and a built-in hedge against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1972, Meineke is among the leading automotive service centers in the world with over 700 locations.

Meineke is strategically located along S. Cicero Avenue with clear visibility and access to 44,200 vehicles passing by daily. The asset benefits from direct on/off ramp access to Interstate 294 (104,700 VPD), making this an ideal, centralized location with easy commutes for both employees and customers. The asset is ideally situated within a dense retail corridor, and is within close proximity to Rivercrest Shopping Center, an 840,118 SF Power Center anchored by Target. Other surrounding national/credit tenants include Kohl’s, Walmart Supercenter, AMC Theaters, Ross Dress for Less, Menards, ALDI, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the site is within proximity to several single-family communities and multi-family complexes including Richard Flowers Homes (100 units), Manchester Court (165 units), Astoria Commons (168 units), and more, providing a direct residential consumer base from which the site can draw. The 5-mile trade area is supported by over 256,415 residents and 93,464 daytime employees, with a healthy annual average household income of $106,421.