2345 Illinois RtePlainfield, IL 60586

Property Details for 2345 Illinois Rte

Year built

1999

Lot size

1.03 AC

Property size (Sq ft)

9,960 SF

Property type

Day care centers & nurseries

Property subtype

Retail properties

Description

This exceptional investment opportunity presents a fee-simple interest in a 9,960-square-foot, single-tenant daycare facility in Plainfield, Illinois. The property, built in 1999 on a 1.03-acre lot, is a 1-story building with 32 parking spaces and boasts a 6.35% cap rate. The tenant, La Petite Academy, a leading childcare provider with over 450 locations, holds a corporate-guaranteed NNN lease with a remaining term of approximately 9 years, extending to November 30, 2033, with 2, 5-year lease options. The lease commenced July 30, 1998, and includes annual rent bumps of 1%. The current annual rent is $184,978, and the asking price is $3,209,637, resulting in a price per square foot of $322.25. Located at 2345 Illinois Rte 59, Plainfield, IL 60586, this strategically positioned property benefits from high traffic counts (over 54,000 vehicles daily) and is situated between several large suburban neighborhoods and employers. Plainfield's strong demographics, including a high median household income ($130,614) and its position within the top 3 MSA (Chicago), further enhance the investment's appeal. The property's NOI is $203,812, reflecting a stable and predictable income stream. The tenant's long-term commitment and the property's location in a rapidly growing area make this a compelling investment opportunity in a recession-resistant industry.

Location Insight

City

Plainfield

County

Will

State

Illinois

Latitude

41.5638

Longitude

-88.2021

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