3550 Grand Ave, Gurnee, IL 60031-3735

This exceptional investment opportunity presents a 20,568 square-foot Harbor Freight Tools storefront located at 3550 Grand Ave, Gurnee, IL 60031. The property boasts a 7.00% cap rate and a strong net lease with a remaining term of 9.6 years, extending to June 30, 2034, with three 5-year renewal options. The lease includes 7.5% rental escalations every five years. Situated on a 1.52-acre lot, this single-tenant property benefits from a high-traffic location along Grand Avenue (28,500 vehicles per day) and is conveniently located near Highway 41 (37,900 vehicles per day). The property is part of a vibrant retail corridor that includes Jewel-Osco, TCF Bank, Walgreens, Fifth Third Bank, Starbucks, and McDonald's. The area enjoys exceptional demographics, with 171,738 people residing within a five-mile radius and an average household income of $94,544. The property's proximity to major attractions like Six Flags Great America and the 1,936,000 square-foot Gurnee Mills shopping mall, which draws over 26 million visitors annually, further enhances its desirability. The tenant, Harbor Freight Tools, is a well-established, Moody's B1-rated retailer with over 1,300 locations nationwide. This property offers a compelling combination of strong tenant occupancy (100%), a favorable lease structure, and a prime location within a high-growth market, making it an ideal addition to any investment portfolio. The asking price is $1,763,486 ($85.74/sq ft), and the current NOI is $123,444. The property was built in 1975. Specific rent bump details are available in the offering memorandum.