Westwood Net Lease Advisors is pleased to present the Chesterbrook Academy located in Shorewood, IL. The single tenant property is a 10,650 SF building sitting on approximately 1.46 Acres of land and newer 2007 construction. There are over three and a half years remaining on the base term of the lease with three-(5) year options thereafter. Base rent increases by CPI every five years not to exceed an 8% cumulative adjustment. The lease is corporately guaranteed by Nobel Learning Communities, Inc, which has over 200 locations throughout the US.
The subject property is located at the intersection of River Road and West Black Road with cumulative traffic counts around 25,600 VPD. The site sits just half a mile from Troy Hofer Elementary School which has about 463 registered students. Within 5 miles of the subject property there are over 8,100 children between the ages of 0-4, which is Chesterbrook Academy’s core target demographic giving them a very strong base to operate from. The average household income within a mile of the subject property is over $109,000 making this location and ideal combination of core demographic and high incomes to support the business.
- Price: $3,061,000
- Cap rate: 8.50%
- Net Operating Income: $260,227
- Lease Term: 3.5+
- Lease Type: NNN*
- Lease Commenced: 11/1/2007
- Increases: CPI Every 5 Years Not to Exceed 8%
- Landlord Responsibilities: Tenant shall maintain all interior and exterior portions of the premises, including the roof, roof skin, gutters, and downspouts. Landlord is responsible fore the repair and/or replacement of the structural elements of the premises, including the structural elements of the roof, bearing walls, and foundation.
- Building Size (sf): 10,650
- Lot Size: 1.46 Acres
- Options: Three-(5) Year
- Guarantor: Nobel Learning Communities, Inc (corporate)
- Broker Contact: 314-563-2206