2345 Illinois RtePlainfield, IL 60586

For Sale
$3,209,637

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple interest in a 9,960-square-foot, single-tenant daycare facility in Plainfield, Illinois. The property, built in 1999 on a 1.03-acre lot, is a 1-story building with 32 parking spaces and boasts a 6.35% cap rate. The tenant, La Petite Academy, a leading childcare provider with over 450 locations, holds a corporate-guaranteed NNN lease with a remaining term of approximately 9 years, extending to November 30, 2033, with 2, 5-year lease options. The lease commenced July 30, 1998, and includes annual rent bumps of 1%. The current annual rent is $184,978, and the asking price is $3,209,637, resulting in a price per square foot of $322.25. Located at 2345 Illinois Rte 59, Plainfield, IL 60586, this strategically positioned property benefits from high traffic counts (over 54,000 vehicles daily) and is situated between several large suburban neighborhoods and employers. Plainfield's strong demographics, including a high median household income ($130,614) and its position within the top 3 MSA (Chicago), further enhance the investment's appeal. The property's NOI is $203,812, reflecting a stable and predictable income stream. The tenant's long-term commitment and the property's location in a rapidly growing area make this a compelling investment opportunity in a recession-resistant industry.

Highlights

  • $3,209,637 asking price for a 9,960 SF net-leased retail property.
  • La Petite Academy, a corporate-guaranteed tenant, occupies the entire building.
  • The property features a 9-year remaining lease term with 1% annual rent bumps and two 5-year options.
  • The property boasts a 6.35% cap rate and a $203,812 net operating income (NOI).
  • Located on 1.03 acres in Plainfield, IL, a high-growth area with strong demographics.

Property Details for 2345 Illinois Rte

Property type
Day care centers & nurseries, Other retail properties
Square Feet
9,960 SF
Year Built
1999
Stories
1
Lot Size (sq. ft)
44,867 SF

Location Insight

City
Plainfield
County
Will
State
Illinois
Latitude
41.5638165
Longitude
-88.2020972
2345 Illinois Rte, Plainfield, Illinois

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2345 Illinois Rte
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