Property tours are available by appointment. Please contact the listing broker to schedule a tour. Investment Highlights: * 89,692 SF Retail Center, 97.6% Leased to Burlington Coat Factory in Mundelein, IL (Chicago MSA) * Burlington is Leased to Base Year NNN Terms Through August 2018, with Three, 5-Year Options * Opportunity for Upside through Leasing 2,145 SF Small Shop Box at Market Rates * Affluent Northwestern Chicago Suburb: Average Household Income of $125,292 in 3-Mi and $142,226 in 5-Mi * Strong Demographics: 8,280 Residents in 1-Mi, 67,149 Residents in 3-Mi & 120,621 Residents in 5-Mi * Located Just Off Major Signalized Intersection Seeing Over 55,000 Cars/Day * 2 Miles from 1.3 Million SF Hawthorn Mall with Macy’s, Carson’s, JCPenney, Sears, AMC Theatres, Barnes & Noble, and 180 Specialty Retailers * Chicago MSA - 3rd Largest MSA in the U.S. with a Population of Over 9.5 Million Investment Overview: Burlington Coat Factory in Mundelein, IL is an 89,692-square-foot multi-tenant retail property that is 97.6 percent leased to Burlington Coat Factory, with upside in leasing the 2,145-square-foot small shop vacancy at market rates. Burlington Coat Factory has been at the property since 2003 and is leased to base year triple-net terms through August 2018. Burlington reimburses for real estate taxes, common area maintenance, and insurance in excess of the 2003 base year amounts, based on their pro-rata share of the retail center. They have three, five-year options remaining with rent increases in each. The subject property also benefits from ancillary income from a clothing recycling bin on premises that is licensed through December 2019, and pays a biannual fee to the landlord. Burlington Coat Factory anchors the larger Townline Square shopping center. Townline Square tenants shadowing the subject property are Jewel-Osco (not included) and Fantastic Sam’s with other shadow tenants H&R Block, and Charter Fitness to name a few. Note that the subject property offered for auction includes Burlington Coat Factory only, and is the fee simple ownership of the two parcels reflected in the parcel map on page six of this offering memorandum. The property is located at the major signalized intersection of South Lake Street and Townline Road, which sees a combined 55,500 cars per day. Mundelein is an affluent northeastern Chicago suburb, less than 40 miles north of Downtown Chicago. Demographics in the area are strong, with 8,280 residents within one mile, 67,149 residents within three miles, and 120,621 residents within five miles. Average household income greatly exceeds the national average at $125,292 within three miles and $142,226 within five miles. Burlington Coat Factory is two miles from the 1.3 million square foot Centennial-owned Hawthorn Mall, anchored by Macy’s, Carson’s, JCPenney, and Sears with Barnes & Noble, AMC Theatres, and 180 specialty retailers. Additionally, Burlington is adjacent to the world headquarters for Medline Industries, Inc., which has over 15,000 employees worldwide.
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Retail Space
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