2525 Sherman Ave North Chicago, IL 60064
- Day care centers
- 7,490 SF
- 0.78 lot acres
Current Use by Public Records
- Step by Step Daycare Inc / Child Care Agency / Day Care Center
Property Details for 2525 Sherman Ave
- Year built
- 2020
- Lot size
- 0.78 lot acres
- Property size
- 7,490 SF
- Property type
- Day care centers
- Property subtype
- Retail properties
Description
Exceptional investment opportunity: a 7,490 square foot, single-tenant, net-leased daycare center in North Chicago, Illinois. This property boasts a 9.00% cap rate, 4.1 years remaining on the lease, and 3% annual rent increases. Located at 2525 Sherman Ave, the daycare benefits from high visibility on Green Bay Rd (12,900+ VPD) and proximity to Buckley Rd (combined 31,000+ VPD). Built in 2020, the property sits on a 0.78-acre lot and enjoys 100% occupancy since March 31, 2022. The lease, commencing March 31, 2021, and expiring December 31, 2028, is with a franchisee tenant. The property's strong financial performance is reflected in its $120,529 NOI and $178.77 price per square foot. The surrounding area features a dense residential population, with over 18,302 households within a 3-mile radius and 44,742 within a 5-mile radius, boasting average household incomes exceeding $97,667 and $106,008 respectively. The strategic location near Naval Station Great Lakes, a significant economic driver for the region, further enhances the property's value and long-term prospects. This is a rare opportunity to acquire a stable, high-performing investment property in a thriving community.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Chicago
- County
- Lake
- State
- Illinois
- Longitude
- -87.8617
- Latitude
- 42.3133
