Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Rosemont, IL - Verilife Dispensary
5540 Park Place | Rosemont, IL 60018
$8,093,000
Price7%
Cap Rate$566,500
NOI6,000
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN, Verilife investment property located in Rosemont, Illinois (Chicago MSA). The tenant has 9 years remaining on their initial term, which expires in March 2031. The lease features rare 3% annual rental increases throughout the initial term and into the option periods, steadily growing NOI and hedging against inflation. The lease is corporate guaranteed by PharmaCann Inc., and is operating under an NNN lease with minimal landlord responsibilities. Notable, then tenant pays $0.50/sf per year toward a roof/structural replacement reserve, making it an ideal, low-management investment for a passive investor.
Location
The asset is 100% occupied by Verilife and was built in 2019. The retail property is located adjacent to Interstate 294 and has a total lot size is 0.41 acres. The site is comprised of a 6,000 SF, one-story retail building operating as a dispensary center. The property is located adjacent to Interstate 294, a major north/south thoroughfare traveling through the city of Rosemont, averaging a total of 193,800 vehicles passing daily. The building is located within 2 miles of Chicago O’Hare International Airport, the 4th busiest airport in the country, reporting 40.8M passengers in 2019. Close proximity to the airport positions Verilife within a highly traveled corridor that experiences a great deal of consumer traffic. Moreover, the asset is located within the Parkway Bank Park Entertainment District, a 300,000 SF center, home to a theatre, a 247-room hotel, boutique eateries like Fogo De Chao, and experiential retail such as iFly, Joe’s Live, Pete’s, and more, significantly increasing consumer draw and crossover store exposure. Moreover, the property is also situated within Rosemont, a city that has over 40 million square feet of office space. Verilife is also easily accessible via Interstate 190, averaging an additional 139,800 VPD. The 5-mile trade area is supported by more than 367,000 residents and 227,000 daytime employees with a healthy average household income of $97,911.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |