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Family Dollar

$ 1,884,367
Oak Forest, Illinois
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Newly Listed

Address: 5400 W 159th Street, Oak Forest, Illinois, United States 60452

Type: Discount Store

Cap Rate: 6.00%

Lease Type: Triple-Net (NNN)

Annual Rent: $113,062

Net Operating Income: $113,062

Lease Term Remaining: 12.5 Years

Rental Increases: 10% in 2027 and at the Start of Each Option Period

Options: Six (6), Five (5)-Year Options

Rentable Sq/Ft: 8,353 SF

Rent Sq/Ft: $13.54

Price Sq/Ft: $226

Lot Size: 0.97 Acres

Marcus & Millichap is pleased to present the exclusive listing for the Family Dollar located 5400 W 159th Street in Oak Forest, IL. The property consists of approximately 8,353 rentable square feet and sits on 0.97acres of land.
The subject property was a brand new built to suit development for Family Dollar in 2017 and there are approximately 12.5 years remaining on the 15-Year triple-net lease. This property is unique as there are absolutely zero landlord responsibilities. The tenant is currently paying a rent of $113,062 that is subject to 10% rental escalations every five years starting in 2027 and through each of the six, five-year tenant renewal options.

This Family Dollar is located at 5400 West 159th Street in Oak Forest, Illinois. Oak Forest is a suburban city located in Cook County Illinois. Cook County is the second most populous county in the United States. Oak Forest is approximately 25 miles south of Chicago, the third largest city in the nation.
The subject property is located within a dense retail corridor, benefiting from the several major national and regional tenants in the nearby area. Dunkin Donuts, KFC, Jiffy Lube, USPS, Shell, Food 4 Less, Pancake House, Walgreens, McDonald’s and several others are in the nearby area. Additionally, this Family Dollar property will benefit from the nearby residential area. Several schools such as Oak Forest High School and Kerkstra Elementary School are found within two miles of the subject property and have a total combined enrollment of over 1,800 students.

Oak Forest has approximately 82,608 individuals residing within a three-mile radius of the property and more than 233,071 within a five-mile radius. The Family Dollar property is located on West 159th Street which intersects with Central Avenue and a hard-signalized intersection. West 159th Street has a traffic counts of roughly 37,400 vehicles per day. Central Avenue has a daily traffic count of over 11,600 vehicles.

Chicago is the third largest city in the United States as well as the county seat of Cook County. Located where the Chicago River meets Lake Michigan, Chicago is known as the “Windy City” due to the weather caused by the nearby bodies of water. Chicago is the second largest business district in the nation and has the most balanced economy in the nation. Multiple Dow 30 companies are based in the Chicago Metropolitan Area, such as Boeing, Sears, Kraft, and McDonald’s. Every year, over 50 million people visit the city. With two-time World Series winners the Chicago Cubs, the six-time Stanley Cup winning Chicago Blackhawks, and six-time NBA championship winning Chicago Bulls, the city has a tradition of excellence in all sports. Chicago is also home to several universities such as Northwestern University, University of Chicago, the Art Institute of Chicago, DePaul University, and several others with a combined total enrollment of over 60,000 students.

 

Broker of Record:  Steven Weinstock  License #471.011175

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Glen Kunofsky

President, Founder
(212) 430-5115

Josh Kanter

Vice President, Investments
(212) 430-5189