540 Rollins Rd, Round Lake Beach, IL 60073-1336

Exceptional investment opportunity: Fee simple ownership of a 44,794 square foot LA Fitness in Round Lake Beach, IL (Chicago MSA). This property boasts a brand new 12-year corporate-guaranteed lease with Fitness International, LLC, commencing August 1, 2024, and expiring July 30, 2036. The lease includes two 5-year options to extend, ensuring long-term stability. Built in 2008, the property sits on a 3.27-acre lot (APN: 06-16-201-012 & 06-16-201-014) and benefits from a net lease structure with minimal landlord responsibilities. The lease features built-in rental increases of 10% in August 2030 and at the start of each option period, providing inflation protection and growing net operating income (NOI). The current NOI is $783,895, resulting in an 8.00% cap rate and a price per square foot of $218.76. The asking price is $9,799,000. The property is strategically located along E Rollins Rd, a major retail thoroughfare with high traffic volume (28,200 vehicles daily), within the Rollins Crossing shopping center, attracting over 1.6 million visitors annually. Its proximity to a high-performing Meijer (over 1.9 million annual visitors) and other national retailers like Walmart, Home Depot, and Kohl's further enhances its desirability. The 5-mile trade area boasts a population exceeding 146,800 with an average household income of $125,358. An adjacent 3.37-acre land parcel offers significant upside potential for future development.