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
President & CEO
703.787.4725
Richard Murphy, CCIM
Managing Director
571.449.8234

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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

Location

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

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