Family Dollar North Chicago | NNN Lease Opportunity

Highlights:

• AbbVie global operations headquarters | 1 Mile away
• Amhurst Business Park | 452- Acres | 1.5 Miles away
• Strong Demographics | 95,000 people in a 3-mile Radius
• Less than 40 Miles From Downtown Chicago | 3rd Largest City in the United States
• National Tenants in the area include Home Depot, Walmart, Walgreens, Starbucks, Chili’s, Autozone and more

Description:

The subject property is a Family Dollar (Nasdaq DLTR) store at 1400 Lewis Avenue in North Chicago, Illinois. The 8,320 square feet building was constructed in 2018 and sits on a 1.27‐acre parcel. Located at the corner of Lewis Avenue and 14th street, the property is located at a signalized intersection with traffic counts on Lewis Avenue over 13,988 vehicles per day. The fifteen‐year lease runs through March 31, 2033 and features a 10% increase in 2029 and each of the six (6) five (5) year option periods. The lease is NNN with the tenant responsible for roof and structure. Presently, there are approximately 12.8 years remaining on the initial term.

North Chicago is 35 miles north of downtown Chicago, which is the largest city in Illinois and the 3rd largest city in the U.S. with over 2.7 million residents. Approximately 149,847 people live in a 5‐mile radius. There are numerous residential communities and major employers nearby including the global operations of the headquarters of the biopharmaceutical company AbbVie and five primary and secondary schools within a mile that have a combined enrollment of over 3,000 students. A mile and half to the west lies the 452‐acre Amhurst Business Park, which is home to Abbot Labs, Cardinal Health, Amazon and more.

Family Dollar was acquired by Dollar Tree in July 2015 creating the largest discount retailer by store count in North America with over 15,288 stores and 23.6 Billion in Revenue. The company is a leading operator of discount variety stores offering convenience and value to customers. Everything is $1.00 at Dollar Tree stores while Family Dollar is a neighborhood variety store offering merchandise largely for $10.00 or less.

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