39 W North Ave
Northlake, IL 60164
ASCEND Wellness · Retail Property For Sale

Northmarq on behalf of Ownership as its exclusive advisor, is pleased to offer for sale to qualified investors, the opportunity to purchase a fee-simple interest in the ASCEND Wellness cannabis dispensary located in Northlake, IL (“The Property”). The Property consists of a 4,940-square-foot freestanding retail building that is 100% occupied by ASCEND Wellness (OTCQX: AAWH). The Property is an outparcel to a Sam’s Club, Walmart and Home Depot, strategically positioned along North Avenue, and underwent a full renovation in 2023 encompassing a new roof, HVAC, updated plumbing/bathrooms and new parking lot. ASCEND Wellness is operating under an absolute net lease with approximately 11 years of base term remaining and two (2), five (5) year options. Additionally, the lease features 3.00% annual rent escalations and zero landlord responsibilities. See Lease Abstract for full details.
The Property is located in Northlake, Illinois, a suburban neighborhood 15 miles west of downtown Chicago, within the Chicago metropolitan area. With a population of over 9.6 million residents, the Chicago MSA is the third-largest metro area in the country, presenting an opportunity to acquire real estate with high residual values. The Property is strategically located within a dense retail trade area along North Avenue, adjacent to the I-290 and I-294 interchange, providing the real estate with excellent visibility, local and regional access.