Dollar General – Bourbonnais, IL
Fortis Net Lease is pleased to present this 9,100 SF Dollar General located in Bourbonnais, Illinois. The property offers a Fifteen (15) Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease includes a 3% rental rate increase in year 11 and also contains 4 (5) Yr. Options to renew, each with a 10% rental rate increase. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently open and rent commenced October 16, 2012.
This Dollar General is highly visible as it is strategically positioned on North Convent Street (also called Highway 52) which sees 15,410 cars per day. The five mile population from the site is 68,843 while the one mile average household income $86,660 per year, making this location ideal for a Dollar General. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top dollar store.
• Relocation Store | PROVEN history of Success in Community
• 15 Year Absolute NNN Lease | 8 Years Remaining on Primary Term
• Zero Landlord Responsibilities
• 3% Rental Rate Increase in Year 11
• 4 (5 Year) Options | 10% Increases At Each Option
• One Mile Household Income $86,660
• Five Mile Population 68,843
• 15,410 Cars Per Day on North Convent St./Highway 52
• Investment Grade Dollar Store With “BBB” Credit Rating
• DG Reported 31 Consecutive Quarter of Same Store Sales Growth
Instate Broker of Record: Eli Schultz | Fortis Net Lease