The subject property is a 10,855 square foot single-tenant Chesterbrook Academy located in Joliet, Illinois. The triple- net lease has limited landlord responsibilities and has a corporate guarantee from Nobel Learning Communities, Inc., a network of over 180 private schools in the United States. Approximately six years remain on the primary term, and the tenant has three, five-year options for renewal. The base rent increases by CPI adjustment every five years, not to exceed 8% cumulative for each five years. The building was constructed in 2007 and sits on 1.2 acres.
The subject property is located on the east side of State Route 59. Traffic counts are approximately 21,000 vehicles per day. Neighboring national and regional retailers include Ace Hardware, McDonald’s, Oberweis Dairy, Tony’s Fresh Market, GNC, The UPS Store, Dunkin’ Donuts, Subway, Panera Bread, Jersey Mike’s Subs, Walgreens, Kohl’s, Jewel-Osco grocery store, Circle K, La Petite Academy, ALDI, White Castle, KFC, FedEx, and others. The surrounding area has good demographics with a one mile average household income of $94,975 and a five mile population exceeding 166,000 residents.
Joliet is the county seat of Will County and the fourth largest city in Illinois. Situated approximately 40 miles southwest of central Chicago, Joliet has long been a significant transportation hub. It lies on both sides of the Des Plaines River, a major waterway in Northern Illinois, and was one of the principal ports on the Illinois and Michigan Canal.
Other Available Locations:
Chesterbrook Academy – Cary, NC (Mackenan)
Chesterbrook Academy – Huntersville, NC
Chesterbrook Academy – Shorewood, IL
Chesterbrook Academy – Sugar Grove, IL
Chesterbrook Academy – Phoenixville, PA