Carnivale

702 West Fulton Market Street, Chicago, IL
Deal Type:
Sale Leaseback
Price:
$10,476,190
Cap Rate:
5.25%
Current Rent:
$550,000
Lease Type:
Ground Lease
Lease Term:
50 years
Landlord Responsibilities:
None
Building Sq. Ft.:
29,629
Rent Increases:
1.50% annually
Site Size:
0.35 Acres
  • carnivale stream capital partners
  • carnivale stream capital partners
  • carnivale stream capital partners
  • carnivale stream capital partners

Investment Highlights

  • Located in most desirable submarket of downtown Chicago
  • Successful operator with 15 years at current location
  • 50-year unsubordinated ground lease (no landlord responsibilities), signed at closing
  • Annual rent increases, including in renewal periods
  • Upside with 100,000 SF-plus of air rights to go vertical in the future
  • Close proximity to highway and downtown Chicago

Listing Agents

Graham Gold

Vice President
314 324 8792
Graham@stream-cp.com
Jonathan Wolfe STREAM Capital Partners

Jonathan Wolfe

Managing Principal
312 310 2798
Jonathan@stream-cp.com

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com

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