CRE Midwest

The Boulder Group arranges sale of single tenant KinderCare property

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The Boulder Group has completed the sale of a net leased KinderCare property located at 790 N. Lake St., Grayslake, for $1.4 million.

The Boulder Group has completed the sale of a net leased KinderCare property located at 790 N. Lake St., Grayslake, for $1.4 million.

The 6,952-square-foot KinderCare was built in 1999. The property is positioned on a hard corner of a signalized intersection along a heavily trafficked roadway. The property is located in an affluent area of the Chicago MSA with average household incomes in excess of $100,000 within five miles of the property.

Additionally, the property benefits from its location in a dense residential area near multiple large subdivisions and apartment communities. KinderCare has been a tenant in the property since 1999 and recently renewed its lease through April 2019. The lease is corporately guaranteed by KinderCare. KinderCare is the largest for-profit childcare provider in the country with 1,900 locations nationwide.

Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a private individual based in Chicago.  The buyer was an Illinois based high net worth investor.

“The market for net leased properties in Chicago and other major markets remains robust as these assets are in high demand among private investors.” said Blankstein, president of The Boulder Group.

“Properties that are valued below $2 million are receiving the most activity in the private buyer and 1031 exchange sectors,” said Goodman, partner of The Boulder Group.