11425 Harlem AveWorth, IL 60482

Property Details for 11425 Harlem Ave

Year built

1994

Lot size

0.30 AC

Property type

Commercial real estate

APN

24-19-120-036

APU

2419120036

Description

This exceptional investment opportunity presents a 7,381 square foot Curaleaf cannabis dispensary in Worth, Illinois, situated within the Chicago MSA. Boasting a strong 8.50% cap rate and a substantial net operating income (NOI) of $237,090, this property offers a secure, long-term investment. The property is under a 10-year triple net (NNN) lease with Curaleaf, a leading national cannabis company, commencing March 8, 2021, and expiring March 7, 2031, with two 5-year renewal options. Rent increases by 10% every five years are built into the lease. The building, constructed in 1974 and extensively renovated in 2019, sits on a 0.66-acre lot at 11425 S Harlem Ave, 60482, benefiting from high daily traffic counts on Harlem Avenue (36,500 vehicles) and its proximity to Interstate 294 (over 133,000 vehicles daily). Its strategic location is further enhanced by its adjacency to Water's Edge Golf Course, proximity to Moraine Valley Community College, and its close proximity to the Chicago Ridge Mall and Chicago Midway International Airport. The sale price is $2,789,294, translating to $377.90 per square foot. The tenant is backed by a corporate guarantee, ensuring a secure investment with 100% occupancy. This presents a rare opportunity to acquire a high-performing asset in a rapidly growing market, capitalizing on the legal recreational cannabis industry in Illinois. The property's strong tenant, favorable lease terms, and prime location combine to create a compelling investment proposition.

• Alternative Use

  Use

  Valuation

  Residential

  $4,807,022

  Hospitality

  $4,403,206

  Educational

  $3,663,416

  Medical

  $3,789,406

  Retail

  $5,698,646

Location Insight

City

Worth

County

Cook

State

Illinois

Latitude

41.6829

Longitude

-87.7968

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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