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    9820 Ridgeland Ave Chicago Ridge, IL 60415

    Sponsored
    For Sale
    $9,474,500

    High-Yield Cannabis Dispensary, NNN Lease

    Property size:
    8,925 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a fee-simple interest in an 8,925 square foot, single-tenant retail property located at 9820 Ridgeland Ave, Chicago Ridge, IL 60415. The property, an outparcel of Chicago Ridge Mall, houses an ASCEND Wellness cannabis dispensary, operating under a 15-year absolute NNN lease (with a 5-year renewal option) commencing May 1, 2021, and expiring April 30, 2036. The lease includes annual rent bumps of 3.00% (base + options). The property boasts a strong 8.65% cap rate and a substantial net operating income (NOI) of $819,545. Built in 1988 and fully renovated in 2021, the property sits on a 0.955-acre lot with 46 parking spaces. The tenant, ASCEND Wellness (OTCQX: AAWH), is a publicly traded company providing a corporate guaranty. This investment offers exposure to the rapidly expanding cannabis industry, with the property benefiting from its location in a high-traffic retail corridor and excellent demographics within the Chicago metro area. The property is currently 100% occupied, offering immediate cash flow and long-term stability. This is a rare opportunity to acquire a high-performing asset in a burgeoning sector. The property features one building, one story, and is situated in Cook County.

    Property Features for 9820 Ridgeland Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,925 SF
    Lot Size
    41,600 SF

    Building Details

    Year Built/Renovated
    1988/2021
    Buildings
    1
    Stories
    1

    HighLights

    • Corporate guarantee from a publicly traded company.
    • New 15‑year lease in place.
    • Absolute NNN lease structure.
    • Strong, growing cash flow.
    • Prime retail location in a high‑traffic corridor.
    • Renovated in 2021.
    Property Profile Location Intelligence

    Current Use by Public Records

    Ascend Cannabis Dispensary ... Cannabis Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago Ridge
    County
    Cook
    State
    Illinois
    Longitude
    -87.780138
    Latitude
    41.7143559

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Cannabis Dispensary, NNN Lease
    Where is this individual retail property located?
    The property is located at 9820 Ridgeland Ave Chicago Ridge, IL.
    What is the asking price?
    The asking price for this property is $9,474,500.
    What are key features of this property?
    This property features: Corporate guarantee from a publicly traded company.; New 15-year lease in place.; Absolute NNN lease structure.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    9820 Ridgeland Ave Chicago Ridge, IL 60415
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