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Net Lease State of Illinois Property Sale Arranged

Date June 22, 2022

The Boulder Group, a net lease investment brokerage firm completed the sale of a single tenant condominium leased to The Illinois Department of Human Services located at 3925 North Ashland Avenue in Chicago, Illinois for $550,000.

The 2,035 square foot condominium benefits from its location along North Ashland Avenue (33,400 VPD) and proximity to West Irving Park Road which experiences over 30,000 vehicles per day. Ashland Avenue is one of the most heavily trafficked streets connecting Lincoln Park to many other neighborhoods. Nearby tenants include Starbucks, Popeyes, Play It Again Sports, Duke Animal Hospital, Fidelity National Title, Domino’s Pizza, 7-Eleven, and several others. There are 1,072,582 people living within five miles of the property earning an average annual household income of $117,642.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The buyer was a local real estate investor. The seller was a nationwide real estate firm.

Illinois created IDHS in 1997, to provide the state’s residents with streamlined access to integrated services, especially those who are striving to move from welfare to work and economic independence, and others who face multiple challenges to self-sufficiency. The Department of Human Services is one of Illinois’ largest agencies, with more than 13,000 employees.

“The State of Illinois recently had their credit upgraded from Baa3 to Baa2 by Moody’s Investors Service.” said Randy Blankstein, President of The Boulder Group.  Jimmy Goodman, Partner of The Boulder Group, added, “Ashland Avenue is one of the most heavily trafficked streets connecting Lincoln Park to several neighborhoods.”

About The Boulder Group

The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2021, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com