Health Clubs
LA Fitness – Matteson, IL
Health Clubs Offerings
LA Fitness – Matteson, IL
4701 Lincoln Mall Dr.
Matteson, IL 60443
- Price:
- $3,750,000
- Cap Rate:
- 8.00%
- NOI:
- $300,000
- Rentable SQFT:
- 23,803 SF
- Year Built:
- 1980
- Lot Size:
- 2.20 AC
- Lease Type:
- Absolute NNN
- Type of Ownership:
- Fee Simple
- Status:
- Under Contract
Investment Highlights
- 35 XSport Fitness’s Acquired by LA Fitness Corporate
- Nearby Visionary Brand-New Mixed-Use Development
- Excellent Access & Visibility
The NNN Fitness Group of Marcus & Millichap is pleased to offer this rare opportunity to purchase a freestanding LA Fitness located in a densely populated submarket of Chicago MSA. 35 XSport Fitness properties, including this location being offered, were recently acquired by Fitness International, Inc (LA Fitness Corporate) as it continues to expand in the fitness industry.
The offering features an Absolute NNN Lease with over 10 years remaining, (3) 5 year options to renew and a 15% increase at each option. Conveniently located off I-57 (54,500 VPD) and only 30 minutes from downtown Chicago, this property is ideally situated in the heart of the Chicago Southland area. Situated on the signalized corner of Promenade Way and Cicero Ave the property benefits from excellent visibility to 17,500 vehicles per day. Furthermore, the property will benefit from it’s location adjacent from Market Square Crossing, a prime 50-acre mixed-use redevelopment in one of the southern suburbs’ most vibrant villages.
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