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Patrick Forkin

Baum Realty Group, LLC

Office Phone: 312-275-3117

Cell Phone: 312-275-3117

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Published on: Friday, March 6, 2015 3:35:16 AM
Updated on: Monday, March 9, 2015 10:50:53 PM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Illinois-41000

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 1996

 

Building Size: 6,528 SqFt

Lot Size: 0 Acre

No of Stories: 1

No of Parking: 180

Business Available for Sale: No

Is Net Lease Investment: No

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: The subject property is a 6,528 SF freestanding building with a guaranteed lease by Cash America International, Inc. The site is adjacent to Kedzie Plaza, a shopping center anchored by Pete’s Fresh Market and O’Reilly Auto Parts. The development is located at the southwest quadrant of S. Kedzie Avenue (31,722 VPD) and W. 47th Street (21,637 VPD). The property features direct access along S. Kedzie Avenue with additional access along W. 47th Place, an east-west arterial roadway to the shopping center. There is a KFC restaurant directly adjacent to thenorth of the subject property. The building was constructed in 1996 and tenanted by Blockbuster. In 2010, the building was re-modeled and leased to Cash America on an “as-is” basis with no TI provided. The site features perpetual easement access to 180 parking spacing within the shopping center. The property benefits from extremely convenient access to the Chicago ‘L’ Orange Line station, as it is just a few steps south of the subject prop

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 6.75

Commission Split (%): 0

Complete Details


Year Build: 1996

Building Size: 6,528 SqFt.

No of Stories: 1

Total Lot Area: 0.19 Acre

No of Parking: 180

No of Total Units: 1

Property Current Status: Normal Sale

Building Status: Existing

Heating and Cooling: Heating and Cooling

Building Class: Not Specified

Property on Ground Lease?: No

Net Lease Investment?: No

Business Price Included?: No

Roofing: Metal

Occupancy: 100%

Full Description


Cash America International, Inc. provides specialty financial services to individuals in the United States with more than 900 locations. They are the largest provider of secured non-recourse loans, commonly referred to as pawn loans, and operate under the brand names Cash America Pawn and SuperPawn. Since its inception, Cash America has acquired many smaller chains of local and international pawn shops. Since 2010, Cash America International has made acquisitions of 6 different chains throughout the United States, totaling 121 stores. Successful acquisitions are one of many reasons Cash America has been able to expand and grow so rapidly throughout their 31 year history. In 1998, Cash America opened their 400th store and started franchising locations. In 2004, Cash America changed its NYSE ticker to CSH and bought an online lending company soon after, greatly expanding their market reach. Cash America International, Inc. was founded in 1983 by Jack Daugherty in Irving, Texas as a single pawn shop. Cash America employs over 6,000 people operating not only Cash America stores, but several subsidiaries such as Cash America Payday, Cashland and Mr. Payroll.

Additional Properties


Features
  • Publicly traded with 916 locations (30+ in the Chicagoland area)
  • Tenant just exercised 5 year extension
  • Surrounding retailers include: Pete’s Fresh Market, Dollar Tree, BMO Harris Bank, T.J. Maxx, Aldi, Auto Zone, and others
  • Over 53,000 combined vehicles per day
  • Just steps from Chicago 'L' Orange Line with over 800,000 passengers boarding at this station per year
  • 1.5 Miles from Stevenson Expressway (I-55) and less than 8 miles from downtown Chicago
  • Over 360,000 residents within 3 miles

Attached Documents


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