Staples Retail NNN
1600 N Milwaukee Ave Vernon Hills, IL 60061
For Sale
Contact for pricing
Pending
Fee-simple retail NNN asset with Staples on an NN lease and about 13.6 years of primary term remaining.
Property Size19,150 SF
Days on Market141
Property Features for 1600 N Milwaukee Ave
General Information
Standard status
Pending
Size
19,150 SF
Property subtype
RETAIL
Listing Agency:
JLL | Miami
(305) 913-5545
Listed By:
Alex Sharrin · License #475189943
(305) 913-5545
Source:
Moodyscre
Added: Mar 12
Changed: Jul 27
Last Checked: Jul 29 at 12:39PM
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 JLL | Miami
Investment Insights
Based on property information with market context.
Jones Lang LaSalle Americas, Inc. (JLL) is pleased to offer the fee simple interest in a Staples retail property known as the Staples at 1600 N Milwaukee Avenue in Vernon Hills, Illinois. The property comprises approximately 19,150 square feet and is operated by Staples under an NN lease.
The lease has approximately 13.6 years remaining in the primary term and includes one five-year option with a 10% rent increase. The offering remarks also indicate a significant mark-to-market opportunity, citing rents 47% below market.
This is a straightforward NNN retail investment opportunity centered on the existing leased Staples location, presented for acquisition on a fee simple basis.
The lease has approximately 13.6 years remaining in the primary term and includes one five-year option with a 10% rent increase. The offering remarks also indicate a significant mark-to-market opportunity, citing rents 47% below market.
This is a straightforward NNN retail investment opportunity centered on the existing leased Staples location, presented for acquisition on a fee simple basis.
Key Highlights
- Fee‑simple retail NNN asset with Staples at 1600 N Milwaukee Avenue in Vernon Hills, IL
- Staples is operating on an NNN lease with about 13.6 years of primary term remaining
- Lease includes one 5‑year option with a 10% rent increase
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $287.3k | $15.00 |
| − Vacancy | −$7.5k | −$0.39 |
| EGI | $279.8k | $14.61 |
| − OpEx | −$83.9k | −$4.38 |
| NOI | $195.8k | $10.23 |
19,150 SF · lease $15.00/SF/yr · vacancy 2.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.80M
$2.45M – $3.26M
NOI $195,847 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.61M
$5.79M – $7.71M
NOI $462,814 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
NNN property - Fee-simple retail NNN asset with Staples on an NN lease and about 13.6 years of primary term remaining.
Where is this nnn property located?
The property is located at 1600 N Milwaukee Ave Vernon Hills, IL.
What is the asking price?
The asking price for this property is $3,830,000.
What are key features of this property?
This property features: Fee‑simple retail NNN asset with Staples at 1600 N Milwaukee Avenue in Vernon Hills, IL; Staples is operating on an NNN lease with about 13.6 years of primary term remaining; Lease includes one 5‑year option with a 10% rent increase
