Heartland Dental
Net Lease
515 US Highway 6, Minooka, Illinois
Ownership Type:
Fee Simple
Landlord Responsibilities:
Roof and structure replacement
Renewal Options:
4, 5-year options
Building Sq. Ft.:
4,947 SF
Rent Increases:
10% every 5 Years
Investment Highlights
- Corporate Lease: Initial 10 year lease with Heartland Dental, the largest DSO organization in the U.S., with more than 1,800 dental offices in 38 states. 2022 revenue was $1.2bn.
- Passive Ownership Opportunity: The tenant is responsible for all Taxes, CAM, and insurance, providing minimal landlord ownership responsibilities.
- Scheduled Rent Increases: The lease calls for rental increases of 10% every five years including the option periods.
- Interstate Access: Minooka is ideally positioned in between I-80 and I-55 which can take locals and commuting residents throughout the entire Chicagoland area.
- Chicago MSA Location: Minooka is is located in Chicago’s southwest suburbs and has an affluent customer base, with an average household income of $133,800 within 3 miles of the site.
- Grocery Outparcel: The site is a pad to Jewel-Osco, the dominant grocer in the market, providing superior visibility and access compared to other dentists in the submarket.
- Nearby National Retailers: Additional national retailers in the area include AutoZone, Walgreens, Culver’s, Giordanos, and Starbucks.
- Newly Renovated Building: The property was extensively renovated to the tenant’s exact prototype design.
Ownership Type:
Fee Simple
Landlord Responsibilities:
Roof and structure replacement
Renewal Options:
4, 5-year options
Building Sq. Ft.:
4,947 SF
Rent Increases:
10% every 5 Years
