The Boulder Group, a net leased investment brokerage firm completed the sale of a single-tenant Altius cannabis dispensary at 506 S. Schmale Road in Carol Stream, Illinois, for $2.13 million.
The 4,50- square-foot building benefits from its position along South Schmale Road which experiences 23,800 VPD. The asset is located across from the area’s major retail anchor, The Home Depot. The property is close to two major thoroughfares: North Avenue (57,300 VPD) and Interstate 355 (121,400 VPD).
Additionally, there are many neighboring retailers such as: Jewel-Osco, AutoZone, Chase Bank, McDonald’s, Starbucks, ALDI, Goodwill, Wendy’s, US Bank, Belle Tire, and several others. This affluent area has an average household income exceeding $148,000 within a five-mile radius, and a population of over 255,000 people in the same area.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction. The seller was a local developer, and the buyer was a private investor from Illinois.
The investment features a new 12-year, NNN lease. It also contains significant 3% annual rental escalations. Altius Dispensary is a well-established cannabis dispensary known for providing a wide range of high-quality cannabis products. Located in a prime area, Altius Dispensary offers a variety of products including flowers, edibles, concentrates, tinctures, and topicals, catering to both medicinal and recreational users.
