East Gate Commons

Highlights:

• STABLE CASH FLOW | 100% OCCUPIED SHOPPING CENTER RECENT LEASING VELOCITY East Gate Commons features a stable rent roll with an average weighted lease term exceeding 6 years. Over the past two years ownership has executed three new leases with pOpshelf (10 years), Anytime Fitness (7 years), and Secretary of State Driver’s Services (10 years).
• BEST-IN-CLASS NATIONAL SHADOW ANCHOR | TARGET East Gate Commons benefits from its major traffic-driving shadow anchor Target. Headquartered in Minneapolis, Target is a market leading general merchandising retailer with over 1,950 stores in all 50 states and a 2023 revenue exceeding $109.1 billion. According to Placer.ai, this Target location accounts for over 1.2 million visits annually, and serves as the chain’s sole location in St. Charles, with the next closest stores located over five miles away in South Elgin, Batavia, Glendale Heights, or Wheaton.
• AFFLUENT WESTERN CHICAGO SUBURB The offering is located along highly trafficked IL Route 64 in the Chicago suburb of St. Charles (Kane County), which features an extremely desirable demographic profile. Within five miles of the subject offering, there are 107,300 residents enjoying average household incomes of more than $150,400 and median home values of $352,600.
• ORGANIC NOI GROWTH | 10-YEAR NOI CAGR OF 2.4% Strong net operating income growth with a 2.4% CAGR over a 10-year investment period stemming from numerous lease stipulated rent bumps, and mark to market opportunities on future leases.
• KANE COUNTY PROPERTY TAXES The subject offering is located in Kane County, allowing purchasers to invest in the Chicago area without exposure to higher Cook County real estate tax expenses.

Description:

Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the 100% fee simple interest in East Gate Commons, a 100% occupied shopping center shadow anchored by Target in the affluent Chicago suburb of St. Charles (Kane County), Illinois.

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