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Chicago & Midwest  + Greater Chicagoland  + Net Lease  | 

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.” 


Inside The Story

Greenstone Partners

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition