Elmwood Park, IL - Little Newtons & Foss Swim School

Description:

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, 2-tenant investment property located in Elmwood Park, Illinois. The tenant, Little Newton’s, has an agreement in place to extend the lease until 6/30/2037, bringing the term remaining to over 12 years with 4 (5-year) options to extend, demonstrating their commitment to the site. Foss Swim School has over 4 years of term remaining. Both leases currently feature 1.5% annual rental increases throughout the initial term and Little Newton’s extend throughout each option period, steadily growing NOI and hedging against inflation. The leases are absolute NNN in structure with zero landlord responsibilities making it an ideal investment opportunity for a passive investor.

The subject property is located near the signalized, hard corner intersection of N Harlem Ave and W Cortland St which combine to average over 20,300 vehicles passing
by daily. N Harlem Ave is a major retail thoroughfare serving the city of Elmwood Park. The asset is located approximately 2 miles from Winston Plaza, a Best Buy and Cermak Fresh Market anchored center featuring national/credit tenants such as Marshalls, Foot Locker, Five Below, Dollar Tree, Chick-fil-A, Dunkin, and IHOP. The property
is in the center of a primary retail corridor with other nearby national/credit tenants including a Costco, Target, Whole Foods, Trader Joe’s, Orangetheory, Panera Bread, and more, further increasing consumer traffic to the site. The asset is in close proximity to Gottlieb Memorial Hospital, a 247-bed hospital that feature an array of services and specialties. The 5-mile trade area is supported by a population of over 806,000 residents and 228,900 employees with an average household income of $102,090.