under_contract

8801 Skokie Blvd.

Property Overview

8801 Skokie is a net leased Bridgestone Firestone investment opportunity on a prime corner in Skokie, IL. The property is 9,550 SF with an additional 9,000 SF 2nd Floor and basement which Firestone uses for storage. This Firestone has 10 bays and 25 parking spaces. The property has been occupied by Firestone for 50+ Years, and recently signed an early option extension which continues to show BSFS commitment to this site.

The lease has 7.5 years remaining and is in the option periods. The option periods include a 7.5% increase in rent every 5 years, with the next rent increase occurring in December 2021. The property is NNN, with no Landlord responsibilities.

Highlights

  • Highly Successful Location/Tenant has Been at This Site for 50+ Years
  • NNN (No Landlord Responsibilities)
  • 7.5 Years Remaining on Lease
  • Bridgestone Corp Guarantee
  • Prime Corner in Skokie Market
  • Rent Increases Every 5 Years

Key Details

Asking Price
$4,153,043
Lot Size
33,976 SF
Cap Rate
5.75