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901 Kinzie StChicago, IL 60607

Iconic West Loop location, 15,153 SF, NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
120
This exceptional investment opportunity presents a fully redeveloped, 15,153-square-foot flagship Guinness Open Gate Brewery located at 901 W Kinzie St in Chicago's vibrant West Loop. The property, a single-tenant, Class A retail space, boasts a 10-year NNN lease with Guinness (a Diageo brand, rated A3 by Moody's), commencing September 28, 2023, and expiring September 30, 2033. This represents a remaining lease term of approximately 8.9 years, with built-in 2.5% annual rent bumps and two 5-year lease options. The property underwent complete renovations in 2023 and currently enjoys 100% occupancy since September 1, 2023. This prime location within Cook County, IL (zip code 60607) benefits from exceptional demographics, including a population of 489,000 within a 3-mile radius, with 44% of residents under 35 and an average household income exceeding $140,000—31% above the national average. The area's strong market fundamentals are further supported by 2.6 million square feet of net office absorption since 2020 and over 7,690 new multi-housing units planned or under construction. The property's convenient location offers immediate access to public transportation (CTA Blue, Green, and Pink Lines) and is within close proximity to the Central Loop and Interstate 90/94. This is a truly unique opportunity to acquire a trophy asset with a globally recognized brand in one of the nation's top submarkets, offering consistent and stable cash flow growth. The brewery includes an on-site bakery and coffee shop, further enhancing visitor traffic.

Highlights

  • Investment-grade tenant: Diageo (Moody's A3 rating).
  • Strong operating performance: 29% average operating margin and 60% gross margin since FY2021; $20.3B in 2024 sales; $2.6B free cash flow (17% growth over 2023).
  • Trophy retail location: Fully redeveloped flagship Guinness brewery; second US location, only privately owned globally.
  • Prime Chicago location: Exceptional demographics (489,000 population, 44% under 35, $140,000 avg. household income, 23% earning $200,000+), strong market fundamentals (2.6M SF net office absorption since 2020, 7,690+ new multifamily units planned/under construction).
  • 100% net-leased investment: Lease through September 2033 with 2.5% annual rent increases.
  • Convenient location: Excellent public transit access (CTA Blue, Green, Pink lines); close proximity to the Central Loop and I-90/94.

Property Details for 901 Kinzie St

Property type
Retail properties, Restaurants
Square Feet
15,153 SF
Class
A
Year Renovated
2023
Buildings
1
Stories
1
Units
1

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.8887132
Longitude
-87.650409
901 Kinzie St, Chicago, Illinois

FAQs

What type of property is this?
Retail property - Iconic West Loop location, 15,153 SF, NNN lease.
Where is the retail property located?
The property is located at 901 Kinzie St Chicago, IL.
What are key features of this property?
This property features: Investment-grade tenant: Diageo (Moody's A3 rating).; Strong operating performance: 29% average operating margin and 60% gross margin since FY2021; $20.3B in 2024 sales; $2.6B free cash flow (17% growth over 2023).; Trophy retail location: Fully redeveloped flagship Guinness brewery; second US location, only privately owned globally.
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901 Kinzie St
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