Heartland Dental

515 US Highway 6, Minooka, IL
Deal Type:
Net Lease
Price:
$2,481,600
Cap Rate:
6.50%
Current Rent:
$161,304
Lease Type:
DoubleNet
Lease Term:
10 years
Landlord Responsibilities:
Roof and structure replacement
Renewal Options:
4, 5-year options
Building Sq. Ft.:
4,947 SF
Rent Increases:
10% every 5 Years
Site Size:
1.22 Acres

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.

Listing Agents

Connor Shell

Managing Director
407 913 9009
[email protected]

Graham Gold

Vice President
314 324 8792
[email protected]

Jordan Koeppel

Vice President
561 789 5504
[email protected]

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