Property Details

Avondale Commons

Chicago, IL
Property ID: 12079

Financial Summary

Asking Price $50,000,000
Cap Rate 6.00%
Net Operating Income (NOI) $3,025,935
Lease Type NNN

Offering Memorandum

Contact

Jonathan W. Hipp
Capital Markets Head of U.S. Net Lease Group
202.644.8700
Richard Murphy, CCIM
Senior Vice President U.S. Capital Markets Net Lease Group
703.288.2700

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Highlights

  • Avondale Commons is anchored by a new LA Fitness (20-year lease) and a new Floor & Decor (15-year lease)
  • Features an existing strong-performing Olive Garden, with lease term through September 2024 and a below-market rent
  • Avondale Commons has a weighted average lease term of 15.7 years, the property provides investors with long-term income stability in a highly coveted urban location
  • Ideally positioned on Addison Street directly adjacent to a full interchange with I-90/94 (266,200 VPD)
  • Center benefits from complementary co-tenancy driven by the adjacent Home Depot and Ferguson Heating and Cooling providing additional consumer draw

    Watch the flyover video:

Location

Kennedy Expressway (I-90/94) & Addison Street
Chicago, IL

Leigh ClineAvondale Commons