2525 Sherman AveNorth Chicago, IL 60064

Property Details for 2525 Sherman Ave

Year built

2020

Lot size

0.78 AC

Property size (Sq ft)

7,490 SF

Property type

Specialty properties

Property subtype

Day care centers & nurseries

Description

Exceptional investment opportunity: a 7,490 square foot, single-tenant, net-leased daycare center in North Chicago, Illinois. This property boasts a 9.00% cap rate, 4.1 years remaining on the lease, and 3% annual rent increases. Located at 2525 Sherman Ave, the daycare benefits from high visibility on Green Bay Rd (12,900+ VPD) and proximity to Buckley Rd (combined 31,000+ VPD). Built in 2020, the property sits on a 0.78-acre lot and enjoys 100% occupancy since March 31, 2022. The lease, commencing March 31, 2021, and expiring December 31, 2028, is with a franchisee tenant. The property's strong financial performance is reflected in its $120,529 NOI and $178.77 price per square foot. The surrounding area features a dense residential population, with over 18,302 households within a 3-mile radius and 44,742 within a 5-mile radius, boasting average household incomes exceeding $97,667 and $106,008 respectively. The strategic location near Naval Station Great Lakes, a significant economic driver for the region, further enhances the property's value and long-term prospects. This is a rare opportunity to acquire a stable, high-performing investment property in a thriving community.

Location Insight

City

North Chicago

County

Lake

State

Illinois

Latitude

42.3133

Longitude

-87.8617

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