301 Black RdShorewood, IL 60404

Property Details for 301 Black Rd

Lot size

1.55 AC

Property type

Commercial real estate

APN

05-06-09-206-009

APU

50609206009

Description

This exceptional investment opportunity presents a 10,000 square foot school building in Shorewood, Illinois, situated on a 1.55-acre lot. The property boasts a 7.00% cap rate and is 100% occupied under a triple-net (NNN) lease with The Learning Experience, a rapidly expanding early education brand with over 450 locations. The lease, commencing September 25, 2019, and expiring November 30, 2034, has a remaining term of approximately 10 years, with two 5-year renewal options. Rent increases of 11% every five years provide significant long-term growth potential. The landlord's responsibility is limited to roof and structure maintenance. The property's prime location in a thriving retail corridor, surrounded by established residential neighborhoods and major employers in Will County (one of the most affluent counties in the US), ensures strong demand and consistent cash flow. The surrounding area features high household incomes exceeding $130,000 within a 3-mile radius and over $122,231 annually within a 5-mile radius, with annual consumer spending on education and daycare exceeding $117 million within a 5-mile radius. Nearby retailers include Home Depot, Target, Walmart, and many others. The childcare industry's projected 5% annual growth rate further enhances the investment's long-term value. The asking price is $5,113,928, with a price per square foot of $511.39 and a net operating income (NOI) of $357,975. The corporate guarantee adds further security to this compelling investment. The building was constructed in 2019.

• Alternative Use

  Use

  Valuation

  Residential

  $13,954,208

  Hospitality

  $12,781,979

  Educational

  $10,634,457

  Medical

  $11,000,192

  Retail

  $16,542,489

Location Insight

City

Shorewood

County

Will

State

Illinois

Latitude

41.5355

Longitude

-88.2033

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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