Harbor Freight Tools 3550 W Grand Ave 20,568 SF Retail Building Gurnee, IL 60031 $2,319,507 CAD ($112.77 CAD/SF) 7.25% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Harbor Freight property positioned within the Chicago MSA, in Gurnee, Illinois. Harbor Freight has successfully operated at this location since its opening in 2014 and has repeatedly demonstrated its long-term commitment by extending the lease multiple times, most recently through June 2034. The lease provides for 7.5% rental escalations through-out the primary term (next escalation in 2029) and includes three 5-year renewal options.
The 20,568-square-foot building is positioned along Grand Avenue, which carries approximately 21,000 vehicles per day, and is located immediately east of Route 41, a primary north-south arterial accommodating approximately 37,000 VPD. Just to the east, Green Bay Road provides an additional high-traffic north-south route carrying approximately 33,000 VPD. Interstate 94, one of northern Illinois’ primary transportation corridors, is accessible within minutes and carries more than 100,000 VPD along this stretch. The property bene?ts from its location in the established Gurnee retail corridor, roughly 10 minutes east of Gurnee Mills — a nearly 2-million-square-foot regional shopping destination anchored by Macy’s, Kohl’s, Bass Pro Shops Outdoor World, Dick’s Sporting Goods, Burlington, and IKEA (coming soon). The site also draws consistent traffic from Six Flags Great America and Hurricane Harbor Chicago, a regional entertainment destination attracting approximately 3 million annual visitors. There are more than 170,000 residents within a ?ve-mile radius of the property, with an average household income exceeding $115,000. Neighboring retailers include Jewel-Osco, Walgreens, Starbucks, McDonald’s, Sherwin-Williams, Dollar Tree, Thornton’s, and several others.
Harbor Freight Tools is one of the largest and fastest-growing privately held tool and equipment retailers in the United States, operating more than 1,650 stores across 48 states from its headquarters in Calabasas, California. Founded in 1977, Harbor Freight Tools generates approximately $8 billion in annual revenue through its value-focused retail model, which offers a broad assortment of power tools, hand tools, automotive equipment, and shop supplies under its proprietary brand portfolio. The company is targeting 2,000 total store locations by 2027, re?ecting its continued commitment to physical retail expansion.