March 13, 2019
Net lease trading platform B+E has listed for sale a Planet Granite climbing gym to be located in the North Side’s Lincoln Park. The 41,500-square-foot property at 1450 N. Dayton S. is listed for $21.9 million.
“Lincoln Park is one of the most desirable Chicago neighborhoods,” said Tim Hain of B+E. “In addition to significant existing buildings, several multifamily, retail, mixed use and office developments are either under construction/planned or have recently been completed in the area surrounding the property. A large nearby future development, Lincoln Yards, will bring a significant population increase over the next five to 10 years.”
Construction on the new Planet Granite is expected to be completed in August 2020. It has a 15-year triple-net lease currently on the market for a 5.5% cap rate, which requires no landlord responsibility and provides the buyer with long-term investment stability, according to B+E.
For comments, questions or concerns, please contact Paul Bubny