O’Reilly Auto Parts

By February 16, 2016Available Properties

Investment Offering – $2,665,091

Location: 4000 E. 106th Street, Chicago, IL

Current Rent: $146,580 Cap Rate: 5.50%
Lease Term: 17 Remaining Term: 20
Lease Type: NN Building Sq. Ft.: 7,200
Renewal Options: 4, Five Year Options

PROPERTY HIGHLIGHTS

  • Over Seventeen (17+) years remaining on a Twenty (20) year base lease term
  • Rare, dense infill Chicago MSA location with a population in excess of 200,000 within 5 miles
  • Strong rental increases of 7% every 5 years beginning in year 11 of the base lease term and throughout option periods
  • NNN Lease with limited LL responsibilities. No management responsibilities. LL responsible for roof, structure and parking lot replacement, if necessary.
  • Newer Construction, Built in 2012 – Free Standing Block Construction
  • The subject property is located at the signalized intersection of 106th Street and Avenue B (17,200 VPD), offering convenient access and excellent visibility. Also, just off I-90 freeway (52,271 VPD)
  • Nearby tenants include: McDonalds, KFC, ALDI, Burger King, Subway, Walgreens and others.
  • As of December 31, 2014, O’Reilly Automotive, Inc. had total revenue of $7.2 billion, net income of $778 million and a net worth in excess of $1.3 billion. O’Reilly Automotive, Inc. currently holds a BBB+/ Stable rating with Standard and Poor’s.

Kentwood Capital Advisors is pleased to offer for sale to qualified investors an O’Reilly Auto Parts property with a long-term lease, located at 4000 E. 106th Street, Chicago, IL. The property is currently offered under a twenty (20) year lease term with fourteen and a half (17.5) years remaining, four (4), five (5) year renewal options, and 7% increases beginning in year 11 and in each option period.

The subject property is located at the northeast corner of 106th Street & Avenue B, Chicago, IL. The freestanding O’Reilly Auto Parts building is 7,150 square feet located on 35,868 square feet of land at a signalized intersection. The property is located adjacent to the Chicago Skyway which is main thoroughfare for people traveling between Indiana, Michigan and Illinois. The Chicago Skyway Bridge is a 7.8-mile toll road built in 1958 to connect the Dan Ryan Expressway to the Indiana Toll Road. In 2002, the Chicago Skyway attracted a record 18.7 million motorists whose tolls amounted to $43 million dollars in revenue–twice the $21.5 million in tolls collected in 1993. In 2003, during the final phase of reconstruction, the Chicago Skyway served 17.4 million motorists who paid $39.7 million dollars in toll revenue.

The subject property is located just off of the Indianapolis Boulevard exit which is the main exit for people accessing the Northwest Indiana Casinos (Horse Shoe, Ameristar, Empress and Harrah’s Casinos). This property is adjacent to an ALDI grocery store and KFC restaurant with other national tenants in close proximity. The property is visible from the adjacent highway and very accessible considering its proximity to full ingress and egress to I-90 Chicago Skyway.

CONTACT US

PAUL TRUPIA III
P: 646.791.0818
paul@kentwoodcapital.com

ED BRESLIN
P: 310.774.3790
ebreslin@kentwoodcapital.com

OFFERING
MEMORANDUM

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