LA Fitness
Hanover Park, IL
Key Details
| Price: | $9,281,250 |
|---|---|
| Cap Rate: | 6.40% |
| Annual Rent: | $594,000 |
| Address: | 7650 Barrington Road, Hanover Park, Illinois 60133 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 26 Years |
|---|---|
| Lease Commencement: | 4/3/2007 |
| Lease Expiration: | 2/28/2034 |
| Lease Term Remaining: | 9.2 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 3.21 Acres |
| Building Size: | 60,000 SF |
| Year Built: | 1989 |
| Year Renovated: | 2021 |
NNN Pro is pleased to present the exclusive listing for a LA Fitness located at 7650 Barrington Road, Hanover Park, Illinois 60133. The site consists of roughly 60000 rentable square feet of building space on an estimated 3.21-acre parcel of land. This LA Fitness is subject to a 26-year Double Net (NN) lease, which commenced 4/3/2007. The current annual rent is $594,000 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Long-Term, 15-Year Lease | Over 9 Years Remaining
- Largest Non-Franchised Fitness Operator in the Nation | Over 700 Locations in the United States and Canada
- Strong Local Ranking Against Other LA Fitness Centers | Ranks 87th Percentile within a 15-Mile Radius | 2nd Best LA Fitness in the Local Area
Key Details
| Price: | $9,281,250 |
|---|---|
| Cap Rate: | 6.40% |
| Annual Rent: | $594,000 |
| Address: | 7650 Barrington Road, Hanover Park, Illinois 60133 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 26 Years |
|---|---|
| Lease Commencement: | 4/3/2007 |
| Lease Expiration: | 2/28/2034 |
| Lease Term Remaining: | 9.2 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 3.21 Acres |
| Building Size: | 60,000 SF |
| Year Built: | 1989 |
| Year Renovated: | 2021 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Broker of Record
Brian Brockman
Bang Realty-Illinois, Inc
License: 471020548
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.