Whole Foods Market Expands River Forest Store With 25-Year Lease
7265 Lake Street
Building Size
7,100 SF
Asset Type
Retail
Closing
Apr 26, 2024
AI
The property involved in the transaction is a retail asset located at 7265 Lake Street in River Forest, spanning 7,100 square feet. The lease for this property was signed on 04/26/2024, with Whole Foods Market as the tenant.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Tenant: Jason Buechel - Whole Foods Market
- Brokers: Dick Spinell - Mid-America Real Estate Group; Scott Stefanik - Midwest Commercial Realty
- Lease Term: 25-year
Whole Foods Market will be expanding its store at River Forest Town Center by taking over an adjacent 7,100-square-foot space previously occupied by Rally House. The grocer will undergo a full remodel of its existing store as part of this expansion. The lease negotiations were facilitated by Dick Spinell of Mid-America Asset Management and Scott Stefanik of Midwest Commercial Realty.
Players
River Forest Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93