Freestanding Furniture Retail
2900 Highland Avenue, Downers Grove, IL 60515
Freestanding Ashley HomeStore on a dominant retail corridor with strong interstate-adjacent visibility.
Type:Retail
Property size:
33,891 SFPrice / SF:
$167/SF- Added:
- Jun 8, 2026
- Days on Market:
- 20
- Last Refresh:
- Jun 20 at 3:16 am
Property Features for 2900 Highland Avenue
General Information
- Standard status
- Active
- Size
- 33,891 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1993
Listing office CBRE - Oak Brook
Listing date Jun 8, 2026
Source Crexi
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 CBRE - Oak Brook
HighLights
- Freestanding Ashley HomeStore built in 1993
- Located directly off the egress of I‑88 (161,400 VPD) on a dominant retail corridor between Downers Grove and Lombard
- Ashley HomeStore has operated at this location since 2017, after assuming the Savers lease that commenced in 2010
- Tenant recently exercised their second 5‑year option at contractual rent with no rent concessions
- Lease has zero options remaining, giving the landlord control to re‑tenant or develop the asset
Overview
CBRE’s Net Lease Property Group – Midwest presents a fee simple opportunity featuring a freestanding Ashley HomeStore. The property is located directly along the dominant retail corridor between Downers Grove and Lombard, Illinois, and is currently operated as an Ashley-branded furniture retail location. The tenant has been in place since 2017, after assuming a prior Savers lease that commenced in 2010. The Ashley HomeStore recently exercised its second 5-year option at contractual rent and there were no rent concessions. Per the public remarks, the lease now has zero options remaining, returning control to the landlord to re-tenant the building or develop the site given its current location profile.
The store sits directly off the egress of Interstate 88, with the property described as benefiting from traffic counts of 161,400 VPD and visibility from three major thoroughfares serving Chicago’s western suburbs.
For buyers and operators, this asset offers the opportunity to acquire a completed, freestanding retail building with a documented branded tenant history and a defined leasing inflection point due to zero remaining options, as noted in the remarks.
The store sits directly off the egress of Interstate 88, with the property described as benefiting from traffic counts of 161,400 VPD and visibility from three major thoroughfares serving Chicago’s western suburbs.
For buyers and operators, this asset offers the opportunity to acquire a completed, freestanding retail building with a documented branded tenant history and a defined leasing inflection point due to zero remaining options, as noted in the remarks.
Local 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 | $732.0k | $21.60 |
| − Vacancy | −$60.0k | −$1.77 |
| EGI | $672.0k | $19.83 |
| − OpEx | −$201.6k | −$5.95 |
| NOI | $470.4k | $13.88 |
33,891 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.72M
$5.88M – $7.84M
NOI $470,413 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.70M
$10.24M – $13.65M
NOI $819,071 @ 7.0% cap · market cap 14.39%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Ashley Store
Furniture & Home Goods
Location Insight
- Map
- Local Demand
- City
- Downers Grove
- County
- DuPage
- State
- Illinois
- Longitude
- -88.0119378
- Latitude
- 41.8344318
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Freestanding Ashley HomeStore on a dominant retail corridor with strong interstate-adjacent visibility.
Where is this retail space located?
The property is located at 2900 Highland Avenue Downers Grove, IL.
What is the asking price?
The asking price for this property is $5,692,000.
What are key features of this property?
This property features: Freestanding Ashley HomeStore built in 1993; Located directly off the egress of I‑88 (161,400 VPD) on a dominant retail corridor between Downers Grove and Lombard; Ashley HomeStore has operated at this location since 2017, after assuming the Savers lease that commenced in 2010
