Illinois

SCHAUMBURG, ILL. — The Boulder Group has arranged the sale of a single-tenant, net-leased retail property in Schaumburg for $2.2 million. The 4,500-square-foot building, located at 1430 E. Algonquin Road, is leased to Culver’s, a fast-casual restaurant chain, which has 15 years remaining on its lease. The property is positioned as an outparcel to an Aldi-anchored shopping center. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based developer. The buyer was a high-net-worth individual.

SCHAUMBURG, ILL. — Baum Realty Group LLC has brokered the sale of a single-tenant retail property net leased to McDonald’s in Schaumburg, a northwestern suburb of Chicago, for $4.2 million. The property, located at 955 E. Golf Road, set a record low capitalization rate under 4 percent for a property net leased to McDonald’s in the Midwest and one of the lowest in the country for a deal size over $4 million. Patrick Forkin, Brad Teitelbaum and Allen Joffe of Baum Realty represented the undisclosed seller in the transaction, a national tenant-in-common group with over 45 investors. Baum Realty Group procured the buyer, a private East Coast investor, prior to construction of the McDonald’s restaurant. The new 20-year ground lease features rent increases every five years.

CICERO, ILL. — Baum Realty Group LLC has arranged the $3.4 million sale of a retail property net-leased to Planet Fitness in metro Chicago. The property is located at 2300 S. Cicero Ave. in Cicero, a western suburb of Chicago. The fitness center is situated on 1.3 acres and includes 110 parking spaces. The building was renovated in 2010. Planet Fitness still has more than 10 years remaining on its lease with rental increases every five years. Brad Teitelbaum and Patrick Forkin of Baum Realty represented the seller in the transaction, a private local investor. The buyer was a private West Coast investor.