Town & Country Center Under Contract

Property Highlights

• Very unique, seasoned premier Chicago Area grocer/drug anchored community center experiencing strong leasing velocity with the recent opening of Amazon Fresh and the soon-to-be open Burlington (Est. Sept. 2024). They join a line-up of other national tenants including Best Buy, Dick’s, Walgreens, LA Fitness and JOANN.
• Several tenants feature long term leases.
• Includes four owned high credit outlots – BMO, Raising Cane’s, Verizon and Burger King.
• Excellent trade zone position at the confluence of three major roadways (Arlington Heights, Palatine and Rand Roads). Tremendous visibility.
• Market features outstanding traffic counts (Arlington Heights – 21,476 VPD, Palatine – 31,634 VPD, Rand – 28,952 VPD) and demos (5-mile: $318k pop., $128k AHI).
• 329,828 square feet and 96.6% occupied with value add potential via lease-up, bringing below market rents to market, and selling off of outlots.
• Projected levered IRR of 14.9%. Pricing significantly below replacement cost.
• Maintained to an institutional level.