The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant Chicago MSA Net Lease MobilityWorks property located at 9207 N Milwaukee Avenue in Niles, Illinois for $2,490,000.<\/p>\n
The 13,122 square foot Chicago MSA Net Lease MobilityWorks property is located within an affluent area just north of Chicago, Illinois.\u00a0 The property is located at a signalized intersection along Milwaukee Avenue, a heavily trafficked north-south thoroughfare that experiences traffic counts in excess of 35,200 vehicles per day. The property is located across from Golf Mill Shopping Center, a super-regional mall with over 100 specialty shops, five department stores (JCPenney, Sears, Target, Kohl\u2019s and Ross Dress for Less), an AMC movie theater, two grocery stores (Shop & Save Market and Gordon Food Service Store) and an XSport Fitness gym.\u00a0 Other surrounding retailers in the immediate area, to name a few, include Walmart, Marshalls, Ashley Furniture, Office Depot, Old Navy, AutoZone and Party City.<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller and purchaser in the transaction.\u00a0 The seller was a Midwest based real estate investment firm.\u00a0 The purchaser was a private individual based in the Midwest.<\/p>\n
The new 12 year MobilityWorks lease commenced in February 2017.\u00a0 The lease features a rental escalation in the eighth lease year and rental escalations in each of the two 5-year renewal option periods.\u00a0 MobilityWorks is a national chain of wheelchair accessible van providers – serving the disabled community with wheelchair accessible minivans, full-size vans with lifts and commercial fleet vehicles.<\/p>\n
\u201cThe market for net lease properties in top MSAs remains active as these assets are in high demand among investors.\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cWhile single tenant properties are selling in all types of locations; core markets, like Chicagoland, are at the forefront of investor demand.\u201d<\/p>\n