Plainfield Retail for Sale - Joliet/Central Will
Rare Opportunity to Acquire an Institutional-Quality Cannabis Dispensary at a 6.60% Cap Rate
Rare opportunity to acquire a newly constructed, institutional-quality cannabis dispensary leased to Aces Dispensary, a growing multi-location Illinois operator, for $5,000,000. The property is secured by a 10-year Absolute NNN lease with a corporate guarantee from Aces Dispensary, an established operator with four operating locations and a fifth location underway, generating more than $26 million in annual revenue.
The investment features a Year 1 NOI of $330,000, representing a 6.60% cap rate, with 4.00% annual rent escalations providing predictable income growth and a built-in hedge against inflation.
The ±3,500 SF freestanding building is situated on approximately ±3.91 acres along highly trafficked Route 59, benefiting from more than 30,000 vehicles per day and strong surrounding retail and residential growth. The property offers excellent visibility, accessibility, and a strategic location within one of the fastest-growing suburban markets in the southwest Chicago MSA.
Investment Highlights
Purchase Price: $5,000,000
Year 1 NOI: $330,000
Initial Cap Rate: 6.60%
Lease Term: 10 years
Lease Structure: Absolute NNN
Annual Rent Escalations: 4.00%
Corporate Guarantee: Aces Dispensary
Tenant Revenue: $26+ million annually
Tenant Footprint: 4 operating locations, expanding to 5
Building Size: ±3,500 SF
Land Area: ±3.91 acres
Traffic Count: 30,000+ vehicles per day on Route 59
Under the Absolute NNN lease structure, the tenant is responsible for all operating expenses, property maintenance, real estate taxes, and insurance, creating a truly passive ownership opportunity for the investor. The contractual 4.00% annual rent increases provide meaningful income growth over the lease term while helping protect against inflation.
The property is located within Illinois' limited-license cannabis market, creating significant barriers to entry for competing operators. The surrounding area benefits from affluent demographics, continued population growth, expanding residential development, and a strong retail environment.
The corporate guarantee provides an additional layer of credit support from Aces Dispensary, an established and expanding Illinois cannabis operator generating over $26 million in annual revenue. With four operating dispensaries and a fifth location underway, Aces has demonstrated continued growth and an established operating platform within the Illinois cannabis market.
At $5.0 million, the offering provides investors with the opportunity to acquire a newly constructed, high-quality cannabis real estate asset at an attractive 6.60% initial cap rate, backed by a long-term Absolute NNN lease, 4.00% annual rent growth, and a corporate guarantee from a growing operator with substantial annual revenue.
This offering combines strong current yield, contractual income growth, passive ownership, and long-term tenant credit support in one of Illinois' most supply-constrained and rapidly growing cannabis markets.
