Urban Air - Mokena, IL
19800 S La Grange Rd Mokena , IL 60448-9339

Urban Air - Mokena, IL - retail for sale

Download offering memorandum:


JLL is pleased to offer for sale the fee-simple interest in an Urban Air Trampoline Park located in Mokena, Illinois. The subject Asset is located the in Chicago MSA, within a family-oriented and affluent suburb. The Property is positioned within the Mokena Town Square grocery-anchored shopping center with tenants Brookhaven Marketplace, Sport Clips, and various other national retailers. Chicago Urban Air, LLC d/b/a Urban Air Adventure Park, is the premier operator and franchisor of active family entertainment centers. Urban Air is a Dallas based franchise with 151 existing locations, with plans for 300 total locations by 2020.

Investment highlights

10 years of the primary term, on a net lease with landlord responsibilities limited to repairs and replacements to structural portions of the building.

The lease features 10% rental increases every five years through the primary term and $1 PSF (±10%) increases in each of the two, five-year renewal options.

Route 45/La Grange Road is highly-trafficked with nearly 50,000 vehicles per day and proximity to another 104,000 vehicles via Interstate 80

Mokena Towne Square is a grocery-anchored lifestyle center with retailers including Brookhaven Marketplace, Sports Clips, Popeyes, etc.

Other national retailers in the area include Home Depot, Staples and Goodwill

Solid retail fundamentals, with over half of the households within 1-mile making over $100,000

47% of households have children and over 25% of the population is under 18 within 1-mile

Partnered with private equity sponsors MPK Equity Partners and AHR Growth Partners in March 2018, which further validated the concept and provided development capital to continue expanding the footprint

Founded in 2011 and has expanded to 200+ locations in four countries with plans for 300+ by 2020

CEO motivated to continue growing by 75 franchises per year

Ranked #1 in Best of Best category and #2 in New Franchises List by Entrepreneur Magazine in 2019

Property type Retail
Tenure type Sale/Purchase
Property address 19800 S La Grange Rd, Mokena, IL 60448-9339
Land in acres 3.13
Building size 44,927  ft2
Year built 2002
Year renovated 2019
Price $4,410,012
Cap rate 8.15%
Current NOI $359,416.00
Tenant's name Chicago Urban Air, LLC
Lease type NN
Annual rent $359,416.00
Lease expiration date 11/30/2029
Remaining term 9.9Yrs

Urban Air - Mokena, IL - retail for sale

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