GRAYSLAKE, IL - The Boulder Group has completed the $1.352 million sale of a net leased KinderCare property at 790 North Lake St., in an affluent area of the Chicago MSA.
The Boulder Group President Randy Blankstein and Partner Jimmy Goodman represented the seller in the transaction, a private individual based in Chicago. The buyer was an Illinois-based high net-worth investor.
The 6,952 square foot KinderCare was built in 1999 and is located in an area of the Chicago MSA which sees average household incomes in excess of $100,000 within five miles of the property.
KinderCare has been a tenant in the property since1999 and recently renewed their lease through April 2019. The lease is corporately guaranteed by KinderCare.
“The market for net leased properties in Chicago and other major markets remains robust as these assets are in high demand among private investors,” Blankstein says.
“Properties that are valued below $2 million are receiving the most activity in the private buyer and 1031 exchange sectors,” adds Goodman.
KinderCare is the largest for-profit childcare provider in the country with 1,900 locations nationwide.
The Boulder Group is a boutique investment real estate service firm specializing in net lease properties. It is headquartered in suburban Chicago.
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