1560 Algonquin Rd Algonquin, IL 60102-4519

Property Details for 1560 Algonquin Rd

Year built

1997

Lot size

0.32 lot acres

Property size

1,800 SF

Property type

Commercial real estate

APN

19-35-330-007

APU

1935330007

Description

This exceptional investment opportunity presents a fee-simple, 3,300 square foot Strickland Brothers 10-Minute Oil Change location in Algonquin, Illinois. The property boasts a 15.3-year absolute NNN lease (12.5 years remaining) commencing March 1, 2022, and expiring May 31, 2037. The lease includes four, 5-year renewal options with a 10% rent increase every five years, ensuring consistent income growth. The tenant, Strickland Brothers, is a nationally recognized brand with over 200 locations across 24 states, providing a strong corporate guarantee. The property, renovated in 2022, sits on a 0.32-acre lot with 8 parking spaces and enjoys excellent visibility, with 35,100 cars passing daily. The property's strong performance is further supported by a 7.00% cap rate and a Net Operating Income (NOI) of $104,975. The location benefits from a high-traffic area with a growing trade area of 133,332 people and affluent demographics, boasting an average household income of $125,524. Nearby establishments include Jewel-Osco, Goodwill, Dollar Tree, Starbucks, McDonald's, Chase Bank, Walgreens, and Dunkin'. The property's strategic location across from Jewel-Osco and adjacent to a newly renovated shopping center, combined with its proximity to several K-12 schools and its 40-mile distance to downtown Chicago, makes this a compelling investment. The 100% occupancy since May 31, 2022, solidifies its financial stability. This is a stabilized investment with significant long-term potential.

Location Insight

City

Algonquin

County

Mchenry

State

Illinois

Longitude

-88.272

Latitude

42.1601

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments