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Lakemoor Sale Yields Lowest Cap Rate for Starbucks in Illinois
Greenstone Partners arranged the sale of a single-tenant, net leased retail location in Lakemoor, IL, 51 miles northwest of Chicago. The subject property is a newly constructed, single-tenant Starbucks and sold for $2,346,000.
Senior director Brewster Hague and managing partner Jason St. John represented the seller, a Chicago-area developer, and also procured the private California-based 1031 exchange buyer.
“This Class-A, build-to-suit property sold for a 4.55% cap rate at $1,029 per square foot, which, according to CoStar, makes it the lowest cap rate ever for a Starbucks location in Illinois history,” said St. John. “This sale marks a significant and record-breaking milestone as it stands as only one of seven Starbucks transactions within the state to sell for more than $1,000 per square foot.”
- ◦Sale/Acquisition


