Ashley HomeStore 2900 Highland Ave 33,891 SF Retail Building Downers Grove, IL 60515 $7,943,869 CAD ($234.39 CAD/SF) 7.75% Cap Rate

CBRE’s Net Lease Property Group – Midwest is pleased to present the opportunity to acquire the fee simple interest in a freestanding Ashley HomeStore located directly along the dominant retail corridor between Downers Grove and Lombard, Illinois. Located directly off the egress of Interstate 88 (161,400 VPD) this store benefits from exceptional traffic counts and visibility from three major thoroughfares of the Chicago western suburbs.
Ashley HomeStore has been operating in this location since 2017, after assuming the Savers lease that commenced in 2010. This Ashley HomeStore recently exercised their second, 5-year option at contractual rent with no rent concessions. This lease now has ZERO OPTIONS REMAINING, putting control back into the landlord’s hands to either re-tenant the building or develop this asset given its ideal location.
Ashley Furniture Industries, doing business as The Ashley Companies, is the top-selling furniture store brand worldwide and the #1 US furniture and bedding retailer. It makes and imports upholstered furniture, as well as leather and hardwood pieces. The company licenses its name to some 400 Ashley Furniture HomeStores located in the US, as well as in Canada, Mexico, Central America, and Japan. These stores are independently owned and sell only Ashley Furniture-branded products. Founded by Carlyle Weinberger in 1945, Ashley Furniture is owned by father-and-son duo Ron and Todd Wanek.