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Absolute Net Tutor Time 1335 N Arlington Heights Rd 10,486 SF Retail Building Itasca, IL 60143 $4,154,143 CAD ($396.16 CAD/SF) 7.25% Cap Rate
Investment Highlights
- Freshly renewed lease on a +5-Year Tutor Time location with zero landlord responsibilities
- 2-5YR options at the end of the firm term, each with 10% rental escalators
- Less than four miles west of O’Hare International Airport, the property is surrounded by numerous dense residential neighborhoods
- Lease is corporately guaranteed by Tutor Time Learning Systems, Inc
- The property is well-sited for childcare, as well as multiple residual uses, given the strong retail fundamentals of the underlying real estate
- Affluent demographics with 60,000 people and an average income of $123,000 within a 3-mile radius
Executive Summary
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a recently extended, single tenant net-leased Tutor Time located on
Arlington Heights Rd in Itasca, Illinois. Positioned in the middle of numerous dense residential neighborhoods, this property benefits from dense and affluent suburban
demographics.
Tutor Time recently extended their lease for 5-Years with minimal concessions at a reasonable rent of $20.50/SF. The lease is Absolute NNN with the landlord having
no responsibilities whatsoever. At the end of their current firm term, Tutor Time has 2-5YR Options, each with 10% rental increases.
The lease is corporately guaranteed by Tutor Time Learning Systems, Inc, which operates as part of Learning Care Group, a nationally scaled early-childhood education
platform with over 1,000 schools and childcare facilities. Tutor Time specifically has been operating in various forms since the 1980s, with continuous corporate presence
nationally.
Itasca is a well-established, family-oriented community with multiple public and private school locations directly within the village. The area benefits from low student-teacher
ratios, above-average academic performance, and convenient access to nearby high schools, supporting consistent demand for early education and childcare services.
The demographics surrounding this property are especially noteworthy with a population of 60,000 people and a daytime population of 120,000 within a 3-mile
radius. Average household incomes hover at $123,000, making this location ideal for the higher tier services of Tutor Time.
Priced at $2,965,000, and a 7.25% CAP rate, this is an opportunity to acquire a safe, stable, and passive net-leased asset, in a premier suburb of Chicago.
Arlington Heights Rd in Itasca, Illinois. Positioned in the middle of numerous dense residential neighborhoods, this property benefits from dense and affluent suburban
demographics.
Tutor Time recently extended their lease for 5-Years with minimal concessions at a reasonable rent of $20.50/SF. The lease is Absolute NNN with the landlord having
no responsibilities whatsoever. At the end of their current firm term, Tutor Time has 2-5YR Options, each with 10% rental increases.
The lease is corporately guaranteed by Tutor Time Learning Systems, Inc, which operates as part of Learning Care Group, a nationally scaled early-childhood education
platform with over 1,000 schools and childcare facilities. Tutor Time specifically has been operating in various forms since the 1980s, with continuous corporate presence
nationally.
Itasca is a well-established, family-oriented community with multiple public and private school locations directly within the village. The area benefits from low student-teacher
ratios, above-average academic performance, and convenient access to nearby high schools, supporting consistent demand for early education and childcare services.
The demographics surrounding this property are especially noteworthy with a population of 60,000 people and a daytime population of 120,000 within a 3-mile
radius. Average household incomes hover at $123,000, making this location ideal for the higher tier services of Tutor Time.
Priced at $2,965,000, and a 7.25% CAP rate, this is an opportunity to acquire a safe, stable, and passive net-leased asset, in a premier suburb of Chicago.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Day Care Center
Building Size
10,486 SF
Building Class
B
Year Built
2002
Price
$4,154,143 CAD
Price Per SF
$396.16 CAD
Cap Rate
7.25%
NOI
$301,176 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
0.99 AC
Zoning
B-2, Itasca
Parking
42 Spaces (4.01 Spaces per 1,000 SF Leased)
Frontage
230’ on N Arlington Heights
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
- -
- -
- Triple Net
- -
Every child is different. Every child is one-of-a-kind. So at Tutor Time, every child’s unique set of skills and interests are utilized to his or her advantage in the way that they learn, grow, build self-esteem, and develop their imagination. A child’s day at Tutor Time is educational. It’s social. And it’s highly energetic. The secret ingredient is their LifeSmart™ curriculum, which creates fruitful, hands-on learning and confident self-expression. Inspired by Howard Gardner’s multiple intelligences theory, LifeSmart recognizes and embraces individual children's different strengths and abilities. Those differences are embraced and used to drive a customized early education that addresses a child's specific needs.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | - | - | Triple Net | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 03-05-201-056 | Improvements Assessment | $567,709 CAD |
| Land Assessment | $349,987 CAD | Total Assessment | $917,696 CAD |
Property Taxes
Parcel Number
03-05-201-056
Land Assessment
$349,987 CAD
Improvements Assessment
$567,709 CAD
Total Assessment
$917,696 CAD
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Absolute Net Tutor Time | 1335 N Arlington Heights Rd
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