• Adjacent to Naperville, One of Chicago’s Most Affluent Suburbs – Lisle sits immediately east of Naperville, which Niche ranked as the #2 Best Suburb in the Chicago MSA. Naperville received grades ranging from A- to A+ for Public Schools, Housing, Family-Friendliness, Nightlife, and Diversity. Benefiting from its proximity to this highly desirable community, the subject property serves a trade area with average household incomes exceeding $173,000 within a 3-mile radius.
• Recent Extension to 10 Years – In December 2024, AutoZone agreed to extend the lease out to 10 years with rent increases in 2025 and 2030. Extensions out to 10+ years with increases are typically strong indicators of good store performance. (tenant does no report sales)
• New Roof Membrane Installed in 2025 – New roof membrane installed in 2025 and backed by a 20-year warranty, limiting near-term capital expenditure risk.
• Below Market Rent – AutoZone pays just $16.50 PSF, well below comparable retail rents in the expanded trade area, preserving long-term occupancy and future releasability. For context, within a couple miles, a national bank is paying $56 PSF, a national retailer paying $42 PSF, and strip center is paying $36 PSF.
• “Long-term” Lease – AutoZone’s lease extends through August 2035, providing nearly 10 years of remaining term. Unlike many newly developed net lease investments, this long-term lease term is the result of a recent extension, offering investors the benefit of an established operating history.
• Investment-Grade Tenant (NYSE: AZO) – AutoZone has maintained investment-grade credit ratings for more than a decade and currently boasts a market capitalization of $51.20 Billion. Additionally, the company’s stock has increased approximately 120% over the past 5 years, reflecting the strength and stability of the tenant behind the lease obligations.
• Dual-Grocery Anchored Trade Area – The property benefits from traffic generated by Jewel-Osco (Albertsons) and ALDI, alongside Walgreens, McDonald’s, Starbucks, and several high-volume convenience retailers.
• 1.3 Million Annual Visitors Nearby – Located just 2.5 miles from Morton Arboretum, a 1,700-acre regional attraction drawing approximately 1.3 million visitors annually.