Net Lease N Illinois

The Boulder Group sells clothing store in Chicago subub

  

The Boulder Group, recently completed the sale of a single-tenant net-leased Discover Clothing sale leaseback property at 15645 South LaGrange Road in Orland Park, Illinois, for $4.3 million.

The 12,000-square-foot building was built in 2012. The property is surrounded by national retailers including Lowe’s Home Improvement, Target, Walmart, Dick’s Sporting Goods, Whole Foods Market, Nordstrom Rack and Stein Mart. The property is also roughly one-mile from Orland Square Mall, the largest shopping center in the southwest suburbs of Chicago.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the seller and buyer in the transaction. The seller was Discovery Clothing Company, Chicago’s largest independently owned junior fashion retailer. The purchaser was a Midwest based real estate investment group.

The Discovery Clothing sale leaseback has 15 years of primary term with two 10-year renewal option periods. The lease features 1 percent annual rental escalations and requires no landlord responsibilities.