Curaleaf Cannabis Dispensary Worth,Illinois

$3,648,000
Available
Property type:Single-Tenant Net Lease

The space

  • Price: $3,648,000
  • Cap Rate: 6.50%
  • Annual Rent: $237,090
  • Rentable Square Feet: 7,381
  • Land Area: 0.66 Acres
  • Year Built: 1974
  • Lease Type: NNN
  • Option Periods: 2, 5-Year Options
  • Rent Increases: 10% Every 5 Years

Description

11425 S Harlem Avenue
Worth, Illinois 60482

Investment Highlights

  • New, 10-Year, Triple Net (NNN) Lease With Two, Five-Year Tenant Renewal Options
  • 10 Percent Increases Every Five Years Throughout Base Term and Option Periods
  • As of January 2020, Recreational Cannabis is Legal in Illinois – Anyone 21 and Older Can Purchase
  • Adult-Use Cannabis Sales in Illinois Exceeding Liquor Sales
  • Curaleaf Recently Completed the Acquisition of Grassroots, Creating the Largest Cannabis Company in the U.S. and Among the Largest Globally
  • Market Leading U.S. Presence Across 23 States With 102 Dispensary Locations and Licenses
  • 24 Miles from the City of Chicago, the Most Populous City in Illinois, and the Third Most Populous City in the Country

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in WorthIllinois. During these uncertain times marijuana dispensaries remain open as they are considered “essential” businesses. As of January 2020, recreational cannabis is legal in Illinois which means anyone 21 and older can purchase.

This Curaleaf offers a brand new, 10-year, triple net lease. There are two, five-year tenant renewal options and 10 percent rent increases every five years throughout the base term and option periods. Curaleaf recently completed the acquisition of Grassroots, making Curaleaf the world’s largest cannabis company.

This Curaleaf is part of the Chicago metro, one of the largest metros in the nation, and is only 24 miles from the city of Chicago. The property is located on South Harlem Avenue with a traffic count of 37,800 vehicles daily, and is within close proximity to the entrance/exit ramps for Interstate 294 with a daily traffic count of more than 112,600 vehicles.

The subject property is two miles from Palos Hospital, and Moraine Valley Community College – with an enrollment of more than 26,000 students. The property is also just 10 miles from Chicago Midway International Airport, which is the second-largest airport in the Chicago Metro and the State of Illinois and serves more than 20 million passengers annually.

Broker of Record

Steven Weinstock
Broker of Record
P: (630) 570-2200
Lic #: 471.011175

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