Net Leased Dollar Tree
For Sale
Contact for pricing
11055 S Western Ave, Chicago, IL 60643
Single tenant Dollar Tree in Chicago with long-term lease.
Property Size15,717 SF
Price / SF$164.29
Days on Market253
Property Features for 11055 S Western Ave
General Information
Standard status
Active
Size
15,717 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$180,745
Building Details
Year Built
2002
Tenancy
Single
Listing Agency:
The Boulder Group
(847) 562-0003
Listed By:
Randy Blankstein · License #IL 471005983
Source:
Crexi
Added: Dec 11, 2025
Changed: Aug 8
Last Checked: May 12 at 8:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Boulder Group
Investment Insights
Based on property information with market context.
This single tenant net leased Dollar Tree property is located in Chicago, Illinois. The 15,717 square-foot building underwent extensive renovations in 2023 for Dollar Tree's tenancy, coinciding with the start of their long-term lease, which runs through November 2033. The lease includes three 5-year renewal options, each featuring a $0.50/SF rent increase at commencement. Significant capital improvements were completed in preparation for occupancy, including a newly sealed and striped parking lot, upgraded parking lot lighting, an updated fire sprinkler and electrical system, and a refreshed monument sign. Additionally, the HVAC system was replaced in 2018. The property benefits from its hard corner position along South Western Avenue, which experiences over 27,900 vehicles per day. It is also within proximity to Interstate 57 (145,000 VPD). The asset is in an affluent pocket of Chicago where the average household income is $122,000 within 1-mile. It is also a densely populated area with 449,000 people living in a 5-mile radius. Neighboring tenants include Fairplay Foods, NAPA Auto Parts, Meineke, PNC Bank, Buona Beef, and U-Haul. Furthermore, Morgan Park Highschool (1,200+ Students) is located less than one mile east of the property. This is an urban-infill location with high barriers to entry for new tenants.
Key Highlights
- Long‑term net lease with Dollar Tree extending through November 2033, providing stable income.
- Investment‑grade tenant (Dollar Tree) with a BBB credit rating from S&P.
- Prime hard corner location** on South Western Avenue with high traffic volume (27,900+ VPD) and proximity to Interstate 57 (145,000 VPD).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$217,442
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,348,840
$4.3M
Cap Rate 7%
$3,106,314
$3.1M
Cap Rate 9%
$2,416,022
$2.4M
Market Conditions
NOI Build-Up for 15,717 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$339.5K $21.60/SF
− Vacancy
−$28.9K −$1.84/SF
EGI
$310.6K $19.76/SF
− OpEx
−$93.2K −$5.93/SF
NOI
$217.4K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,348,840
Cap Rate 7%
$3,106,314
Cap Rate 9%
$2,416,022
Alternative Uses
Best Use
Specialty Retail
$4.18M
$3.66M – $4.88M
NOI $292,525 @ 7.0% cap · market cap 11.33%
Second Best
Retail
$3.11M
$2.72M – $3.62M
NOI $217,442 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$7.41M
$6.48M – $8.65M
NOI $518,736 @ 7.0% cap · market cap 20.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
796
Businesses Nearby
37k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
Dollar Tree
Shops & Services
17,004 visits/mo
0.1 miles
Buona
Dining
13,078 visits/mo
0.5 miles
PNC Bank
Shops & Services
5,130 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
1,625 visits/mo
0.0 miles
Meineke Car Care Center
Shops & Services
438 visits/mo
0.4 miles
Demographics for 60643, IL
47,831
Population
19,541
Households
2.4
Avg Household Size
44
Median Age
39%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
6,464
Density / Sq Mi
$83,015
Median Household Income
$53,155
Median Earnings
$1,359
Median Rent
$233,900
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Single tenant Dollar Tree in Chicago with long-term lease.
Where is this grocery and convenience store located?
The property is located at 11055 S Western Ave Chicago, IL.
What is the asking price?
The asking price for this property is $2,582,071.
What are key features of this property?
This property features: Long‑term net lease with Dollar Tree extending through November 2033, providing stable income.; Investment‑grade tenant (Dollar Tree) with a BBB credit rating from S&P.; Prime hard corner location** on South Western Avenue with high traffic volume (27,900+ VPD) and proximity to Interstate 57 (145,000 VPD).
