7-Eleven NNN Retail Store with Newly Executed 5-Year Lease Extension

For Sale

954 W Monroe St, Chicago, IL 60607

This Chicago property for sale is located at 954 W Monroe St. The current listed sale price for 7-Eleven NNN Retail Store with Newly Executed 5-Year Lease Extension is $1,599,000.

Contacts

broker

Nicholas Manganais

Svigos Asset Management

Property Details

  • Property Type Retail - Street Retail
  • Property Size 2,518 SF
  • Units 2
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Year Built 2005
  • Date Updated Jun 14, 2024
954 W Monroe sits at the lighted intersection of Monroe and Morgan Streets in the heart of the trendy West Loop of downtown Chicago. The Residence at 950 W. Moroe is a 101-unit upscale condo building built in 2005.SVN is pleased to present the exclusively listed Single Tenant NNN Corporate leased 7-Eleven property- a street-level, 2,518 square feet condo unit. Located at the lighted intersection of Monroe and Morgan. The property is located in Chicago’s West Loop and is adjacent to the hot Fulton Market area. The storefront is located at the base of the 101-unit 950 Monroe condo building. Two (2) interior parking spaces (P-19 & P-20) come with the property. 7-Eleven pays rent for these two parking spaces. 7-Eleven signed a 15-year NNN lease starting in 2005 with 3 five-year options to renew. In 2020 7-Eleven entered into negotiation with the present owner to exercise its first 5-year option. The Tenant just exercised it's 2nd 5 year extension which brings the lease term to May 31, 2030. 7-Eleven has 3 -5 year options to renew with 10% rent bumps in each 5-year option.

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Highlights

  • Corporate NNN lease
  • Tenant just exercised 2nd 5 year lease extension , leaving 6 years left on term
  • Rent bumps of 10% in each 3- 5-year options to renew
  • Great downtown Chicago West Loop location in 101-unit constructed condo building built in 2005
  • Located at the lighted corner of Monroe and Morgan
  • Investment Grade Tenant rated A, and Baa2
  • No Gas Station Component involved
  • Tenant Leases 2 indoor heated parking spaces
  • Tenant pays Condo Association dues, Real Estate taxes, and any Special Assessments

Attachments

Getting around

  • 98/100

    Walk Score ®

  • 87/100

    Transit Score ®

  • 93/100

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Location

  • City Chicago, IL
  • Neighborhood Near West Side
  • Zip Code 60607
  • Market Chicago

Points of Interest

  • UIC-Halsted (Morgan Street)

    0.34 miles

  • Morgan

    0.36 miles

  • UIC-Halsted (Halsted Street)

    0.41 miles

  • Racine

    0.50 miles

  • Clinton

    0.63 miles

  • Clinton

    0.66 miles

  • Grand

    0.78 miles

  • taxi rank

    0.90 miles

  • Quincy

    0.94 miles

  • Merchandise Mart

    1.08 miles

  • Shell

    0.36 miles

  • BP

    0.83 miles

  • Citgo

    0.87 miles

  • Mobil

    0.98 miles

  • Tesla Supercharger

    0.99 miles

  • Citgo

    1.05 miles

  • Shell

    1.08 miles

  • BP

    1.20 miles

  • Mobil

    1.20 miles

  • Marathon

    1.22 miles

  • The Site

    0.38 miles

  • Lot 11

    0.41 miles

  • Parking Garage

    0.41 miles

  • Harrison Street Parking Structure

    0.42 miles

  • Park 1

    0.45 miles

  • Presidential Towers Garage

    0.46 miles

  • Lot 1A

    0.48 miles

  • Lot 1B

    0.52 miles

  • Mid City Parking Lot

    0.65 miles

  • UIC Halsted Street Parking Structure

    0.75 miles

  • Ciao! Cafe & Wine Lounge

    0.08 miles

  • The Madison Bar & Kitchen

    0.10 miles

  • Mad Boiler

    0.12 miles

  • Monteverde Restaurant & Pastificio

    0.12 miles

  • Domino's

    0.13 miles

  • Green Street Local

    0.17 miles

  • Chicago Waffles

    0.18 miles

  • Sushi Pink

    0.19 miles

  • The CrossRoads Bar & Grill

    0.20 miles

  • Butterfly Sushi

    0.20 miles

  • Mariano's Fresh Market

    0.21 miles

  • Whole Foods Market

    0.29 miles

  • Target

    0.31 miles

  • H Mart

    0.43 miles

  • Chicago French Market

    0.62 miles

  • Jewel-Osco

    0.67 miles

  • TJ Maxx

    0.98 miles

  • The Maxwell

    1.00 miles

  • Burlington

    1.01 miles

  • Marshalls

    1.02 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Nicholas Manganais

Svigos Asset Management