(Wilmette, IL- February 22, 2019) — (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a net leased property located at 336-338 West Ogden Ave, Downers Grove, Illinois for $3,280,000. The property is fully leased by Five Guys, ATI Physical Therapy and Sports Clips.
The 6,267 square foot single tenant building is located in a thriving retail corridor in an affluent Chicago suburb. Retailers in the immediate area include Hobby Lobby, Jewel-Osco, Fresh Thyme, CVS, Walgreens and Starbucks. The property is also near Downers Grove North High School (2,159 students) which drives consistent traffic to the area. Additionally, the property is near Advocate Good Samaritan Hospital, a large 285 bed hospital.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a local investor. The buyer was a private investor based in California.
The property is strategically located at the hard corner of a signalized intersection. The property is well located along Ogden Ave (35,800 VPD), a primary east-west thoroughfare that runs through Downs Grove. There are 253,526 people living within five miles of the property earning an average household income of $121,377. Five Guys and Sport Clips both exercised renewal options, showing their commitment to the location.
“The market for net lease properties in top MSAs remains active as these assets are in high demand among private investors,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “Properties with well-known retailers are in high demand among private investors.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $5 billion of single tenant net lease real estate transactions. From 2012-2018, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
The Boulder Group