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Dollar General

537 University Parkway, University Park, IL 60484

$1,816,667

Cap Rate 6.30%

Views: 29 DOM: 111 Updated: 05.05.24 Posted: 01.26.24 Status: Active

Summary

Price $1,816,667
Built/Renov 2023
Tenant Dollar General
Cap Rate 6.30%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,640
Lease Start 08-23-2023
#Units 19,294
Price/SF $170.74
Expiration 08-31-2038
Tenant Type Dollar/Discount
NOI $114,450
R. Term 14.3
Ownership Fee Simple
Rent/SF $10.76
Increases 10.0%/4/yrs
Pop 5Mi 96,326
Lot/AC 2.93
Options 4/5yrs/10%
AHHI 5Mi $78,162

Randy Blankstein
The Boulder Group
Contact

Jimmy Goodman
The Boulder Group
Contact

Lease Highlights

  • Brand-new 2023 construction
  • Dollar General has 14+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 10% rental increases at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

This newly constructed 10,640 square-foot building benefits from its position along University Parkway which connects towns Crete and University Park to Interstate 57 (68,600+ VPD). The property is located less than two miles east of Governors State University (GSU), which has over 4,400 students enrolled. Notable tenants occupying the corridor include Amazon, Clorox, Georgia Pacific, DHL, DOT...

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Key Features

  • New construction

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Strong demographics

  • Absolute NNN

  • Long 10+ yr lease

  • Traded and rated company

  • Corporate Guarantee

  • Investment grade tenant

    • ...

Links

Dollar General Wikipedia Dollar General Wikipedia University Park, Illinois Zip Code 60484 Broker Site Page

Documents

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dollar General
  • Guarantor:Corp T and Rated
  • Company:Dollar General Corp.
  • # Units:19,294
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: DG

About Tenant

Dollar General Corporation (NYSE: DG) is an American chain of variety stores. As of 2023, Dollar General operates more than 19,200 stores in 47 states and Mexico. The stores deliver everyday low...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,668 38,416 95,498
2023 Total Population : 5,728 38,605 96,326
2023 Employed Civilian Pop : 3,003 18,411 43,619
2023 Total Businesses : 84 754 2,374
2023 Average Household Income : $ 74,471 $ 72,404 $ 78,162
2023 Total Consumer Spending : $ 139 M $ 996 M $ 2541 M
2023 Median Age : 33 39 39
2023 Total Households : 2,145 15,813 37,451
2023 Pop Age 25+: Bachelor's Degree : 765 4,235 10,228
2023 Average Home Value : $ 227,922 $ 166,821 $ 201,807
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Western Avenue W Valley View Ln 2019 8,600 0.28 mi
West Exchange Street Western Ave 2019 8,100 0.35 mi
Western Ave W Loves Ln 2012 6,650 0.36 mi
University Pkwy Burr Oak Ln 2012 7,950 0.42 mi
University Pkwy Towncenter Dr 2008 4,300 0.81 mi
University Pkwy S Steger Monee Rd 2008 4,300 1.24 mi
Kings Rd Eagle Dr 2012 1,050 1.27 mi
S Steger Monee Rd W Oakhill Dr 2018 1,700 1.30 mi
University Pkwy S Steger Monee Rd 2008 3,750 1.36 mi
Western Ave W Old Monee Rd 2008 1,850 1.43 mi

Listing Broker

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