Pooch Hotel
2228 N Clybourn Ave
Chicago
,
IL 60614-3012
Pooch Hotel - Retail for sale
Overview
JLL is pleased to present the opportunity to acquire a single-tenant net leased luxury pet hotel, Pooch Hotel, in Lincoln Park.
The Property is subject to a double net lease with minimal landlord responsibilities (detailed in the OM) and the tenant just extended their lease 6 years, leaving 10 years remaining on the contractual term. The location of the Asset is unparalleled, and the residual value of the real estate will continue to appreciate as Clybourn continues to grow and Sterling Bay's Lincoln Yards development begins construction. The offering presents an outstanding opportunity to acquire a long-term stabilized urban investment with an accretive yield and consistent rent growth over the course of the term.
Investment Highlights
- $5 billion Lincoln Yards development includes 50 story skyscrapers, over 20 acres of public space, 23,000 permanent jobs and more
- Located in Chicago’s most premier and established urban submarket
- Double net lease with 10 years remaining and minimal LL responsibilities
- Recently extended lease and 14 year successful historical occupancy; Pooch Hotel’s first location in U.S.
- High traffic corridor and conveniently accessible to all residents of Bucktown and Lincoln Park
- Mariano’s, The Home Depot, Best Buy, Costco, Menards and many others occupy space along Clybourn
- Ideally positioned to capture commuter traffic traveling downtown or to O’Hare International Airport on Interstate 90/94
General | |
Property Type | Retail |
Tenure Type | Sale / Purchase |
Property Address | 2228 N Clybourn Ave, Chicago, IL 60614-3012 |
Land In Acres | 0.1 |
Building Size | 9,086 ft2 |
Financial | |
Price | $3,120,000 |
Cap Rate | 6.65% |
Current NOI | $207,504.00 |
Lease | |
Tenant's Name | Pooch Hotel |
Lease Type | NN |
Annual Rent | $207,504.00 |
Lease Expiration Date | 01/31/2029 |
Remaining Term | 9.9Yrs |
Download Offering Memorandum
Presented By
-
Primary Contact
- Eric Suffoletto
- License No.: IL - 475.14702
- eric.suffoletto@am.jll.com
- +1 617 316 6479
-
Secondary Contact
- Nicholas G. Kanich
- License No.: IL - 475147401
- nicholas.kanich@am.jll.com
- +1 312 228 2093
-
Broker of Record
- Alex Sharrin
- License No.: IL - 475.170243
- alex.sharrin@am.jll.com
- +1 312 228 3197
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