325 Ogden Ave Downers Grove, IL 60515-3142

Property Details for 325 Ogden Ave

Lot size

0.15 lot acres

Property type

Commercial land

APN

09-04-300-056

APU

904300056

Description

This exceptional investment opportunity presents a 28,659 square foot Fresh Thyme Market located at 325 Ogden Ave, Downers Grove, IL 60515. The property, built in 2015, sits on a 2.48-acre lot and boasts a 100% occupancy rate with a corporate guarantee from Meijer Companies. The current lease, a Net Net (NN) agreement, commenced May 1, 2015, and expires April 30, 2030, with a remaining term of 5.4 years and four 5-year option periods. The asking price is $14,792,446, representing a price per square foot of $516.15 and a 6.50% cap rate. The property generates a Net Operating Income (NOI) of $961,509. Rent increases are structured at 10% every five years, with the next increase scheduled for 2025. This flagship Fresh Thyme location benefits from its prime position in a dense retail corridor, surrounded by national retailers and boasting excellent access from Ogden Ave, Florence Ave, and Fairview Ave. The affluent Downers Grove submarket of Chicago, with a population of 255,404 and an average household income of $127,186 within a 5-mile radius, ensures a strong and stable tenant base. This is a rare opportunity to acquire a high-performing, net-leased asset with a strong tenant and significant upside potential.