Naperville Jewel-Osco Net-Lease
For Sale
Contact for pricing
1759 W Ogden Ave, Naperville, IL 60540
Long-term net lease investment opportunity in Naperville, Illinois.
Property Size65,083 SF
Price / SF$224.12
Days on Market664
Property Features for 1759 W Ogden Ave
General Information
Standard status
Active
Size
65,083 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$802,260
Building Details
Year Built
1994
Year Renovated
2016
Tenancy
Single
Listing Agency:
Marcus & Millichap - Encino
Listed By:
Lior Regenstreif · License #CA 01267761
(818) 212-2730
Source:
Crexi
Added: Nov 18, 2024
Changed: Sep 11
Last Checked: Sep 13 at 5:07AM
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 Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
This passive net-lease opportunity allows a qualified buyer to invest in a leading, national tenant with a long-term absolute net lease in a desirable Chicago neighborhood. The property is located in Naperville, Illinois, within the Chicago Metropolitan Statistical Area (MSA). Naperville combines a close-knit community with the dynamic energy of a major metro region. As one of the largest suburbs of Chicago, Naperville benefits from access to business opportunities, a skilled workforce, and the cultural richness of a globally renowned city. The location has strong store sales and a low rent-to-sales ratio. Jewel-Osco is Illinois' leading supermarket chain with 189 locations primarily within the Chicago MSA and additional locations throughout Iowa and Indiana. Jewel-Osco maintains market dominance in the Chicago MSA and leads local grocers with the highest market share. Jewel has operated as a subsidiary of Albertsons (NYSE:ACI) since 1999. The property size is 65083 square feet.
Key Highlights
- Long‑term absolute net lease with Jewel‑Osco, a leading national tenant.
- Jewel‑Osco is Illinois' leading supermarket chain with market dominance in the Chicago MSA.
- Strong store sales and an extremely low rent‑to‑sales ratio.
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
$642,670
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
4.41%
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%
$12,853,400
$12.9M
Cap Rate 7%
$9,181,000
$9.2M
Cap Rate 9%
$7,140,778
$7.1M
Market Conditions
NOI Build-Up for 65,083 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
$929.4K $14.28/SF
− Vacancy
−$72.5K −$1.11/SF
EGI
$856.9K $13.17/SF
− OpEx
−$214.2K −$3.29/SF
NOI
$642.7K $9.87/SF
Area
Naperville, IL
Vacancy
7.80%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
25.00%
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%
$12,853,400
Cap Rate 7%
$9,181,000
Cap Rate 9%
$7,140,778
Alternative Uses
Best Use
Specialty Retail
$9.18M
$8.03M – $10.71M
NOI $642,670 @ 7.0% cap · market cap 4.41%
Second Best
Retail
$8.57M
$7.50M – $10.00M
NOI $599,825 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$14.69M
$12.85M – $17.14M
NOI $1,028,353 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
218k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 35%
Home Improvements & Furnishings 23%
Shops & Services 19%
Dining 14%
Menards
Home Improvements & Furnishings
50,714 visits/mo
0.5 miles
Jewel-Osco
Groceries
46,275 visits/mo
0.0 miles
Patel Brothers
Groceries
29,605 visits/mo
0.5 miles
Goodwill
Apparel
19,972 visits/mo
0.4 miles
Speedway
Shops & Services
15,813 visits/mo
0.2 miles
Demographics for 60540, IL
44,201
Population
16,253
Households
2.7
Avg Household Size
41
Median Age
72%
College-Educated
98%
High-School Grad
13.2 sq mi
ZIP Area
3,349
Density / Sq Mi
$155,866
Median Household Income
$70,026
Median Earnings
$1,982
Median Rent
$504,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Jewel-Osco — 1759 W Ogden Ave, Naperville, IL 60540
- Patel Brothers — 1568 W Ogden Ave, Naperville, IL 60540
- Target Grocery — 1951 W Jefferson Ave, Naperville, IL 60540
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Long-term net lease investment opportunity in Naperville, Illinois.
Where is this grocery and convenience store located?
The property is located at 1759 W Ogden Ave Naperville, IL.
What is the asking price?
The asking price for this property is $14,586,540.
What are key features of this property?
This property features: Long‑term absolute net lease with Jewel‑Osco, a leading national tenant.; Jewel‑Osco is Illinois' leading supermarket chain with market dominance in the Chicago MSA.; Strong store sales and an extremely low rent‑to‑sales ratio.
