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8915 S Stony Island Ave
Chicago, IL 60617 Calumet Heights

$2,595,000

Freestanding For Sale  •  18,625 Sq Ft

Property Details

  • Property Type Freestanding
  • Total Building Size 18,625 Sq Ft
  • Building Class C
  • Year Built 1979
  • Cap Rate 9.01 %
  • Tenancy Multiple
  • Zoning B3-2
58 Transit Score
82 Walk Score

Description

AMAZON RESISTANT BUSINESS MODELS The Investment’s tenants possess business models well insulated from the growth of e-commerce, as AutoZone provides immediate access to auto parts and in-store customer guidance and Family Dollar sells a wide array of everyday products at a significantly discounted price.

CREDIT RATED TENANTS Family Dollar, owned by parent company Dollar Tree is S&P investment grade “BBB-“ rated, has 15,000+ stores, employs 182,000 associates, and generates annual net sales of $22.82 billion. Family Dollar has been at the Property for nearly a decade and the company plans to roll out an additional 550 new store locations in 2019. AutoZone is S&P investment grade “BBB“ rated, has 6,000+ stores globally, generates annual gross sales of $10.98 billion and has been a tenant at the Property for 17-years. 

INFILL DEMOS + ESTABLISHED RETAIL CORRIDOR The Investment captures more than 480,000 residents and 186,000 households within a 5-mile radius. The Property is situated in a mature retail corridor, populated by national retailers including Jewel-Osco, CVS, Walgreens, McDonald’s, Subway, Dunkin’ Donuts, Wendy’s, Pizza Hut, Foot Locker, GNC, Sherwin-Williams, T-Mobile, O’Reilly Auto Parts, and many more.

TREMENDOUS RETURNS + NET LEASES The Investment offers ownership an excellent income stream at a going-in 9% cap rate and 13%+ cash-on-cash return. Both tenants operate under ‘net’ lease structures, safeguarding the Investment against future expense growth and also allows for a more passive ownership.

WELL LOCATED + HIGHLY TRAFFICKED The Property is positioned along South Stony Island Avenue and East 89th Street which experiences 46,500 vehicles per day. The Property boasts 142-feet of frontage along South Stony Island Avenue, is conveniently located less than 1-mile from Interstate I-90 and less than 2-miles from I-94 and I-57. The Property is also located just 11-miles south of Downtown Chicago, within 14-miles of Midway International Airport, and is less than 5-miles from the Illinois/Indiana Border.
Cap Rate: 9.01 %

Public Transportation

Commuter RailDriveWalkDistance
Gresham Station Commuter Rail (Rock Island District Line) 7 min - 3.4 mi
Longwood Station Commuter Rail (Rock Island District Line) 8 min - 4.2 mi
AirportDriveWalkDistance
Chicago Midway International Airport 23 min - 13.0 mi
Chicago O'Hare International Airport 43 min - 29.4 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Jason St John 312-234-0371 Greenstone Partners
Jason St John 312-234-0371 Greenstone Partners