Details

NNN Starbucks & Pane Caldo in Streeterville

111 E Chestnut, Chicago, IL

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hIGHLIGHTS

Size:4,224 SF

Price:$5,637,346.15

CAP RATE:5.20%

NOI:$293,142.00

PROPERTY
OVERVIEw

DETAILS

INVESTMENT HIGHLIGHTS
• 4,224 SF building
• Frontage on Chest Street in Chicago’s Gold Coast
• Below market rents

Starbucks:
• 1,715 SF
• Lease Commencement Date: 2021
• Lease Expiration Date: 2026
• Rent Escalation:
Years 1-3: %
Years 4-7: 9.27%
Years 8-10: 12.52%
Years 11-13: 9.27%
Years 14-17: 9.27%
Years 18-20: 12.54%

Starbucks Storage:
• 262.5 SF
• Lease Commencement Date: 2021
• Lease Expiration Date: 2026
• Rent Escalation: N/A

Pane Caldo:
• 2,509 SF
• Lease Commencement Date: 2012
• Lease Expiration Date: 2027
• Rent Escalation: 3% Annual

InCommercial Property Group is pleased to offer the opportunity to acquire a Starbucks/Pane Caldo ocated in the Streeterville neighborhood of Chicago, Illinois. The 4,224 SF subject property is being offered for $5,637,346.15 at a 5.2% cap rate and has a NNN lease structure. Starbucks’ current lease runs through 2026; Pane Caldo’s runs through 2027. Starbucks is an investment grade rated company with a Standard & Poor’s rating of BBB. Starbucks has been publicly traded since 1992 (NASDAQ: SBUX) and has a market capitalization of $136.74 billion as of April 29, 2021.

Location

Contact

Luke Sauer

Managing Broker

(312) 375-6045

LSauer@in-commercial.com

Michael Mintz

Vice President, Brokerage

(847) 648-1717

MMintz@InCommercialRE.com