Marcus & Millichap is pleased to present the opportunity to acquire a Curaleaf Cannabis Dispensary in Worth, Illinois. During these uncertain times marijuana dispensaries remain open as they are considered “essential” businesses. As of January 2020, recreational cannabis is legal in Illinois which means anyone 21 and older can purchase.
This Curaleaf offers a brand new, 10-year, triple net lease. There are two, five-year tenant renewal options and 10 percent rent increases every five years throughout the base term and option periods. Curaleaf recently completed the acquisition of Grassroots, making Curaleaf the world’s largest cannabis company.
This Curaleaf is part of the Chicago metro, one of the largest metros in the nation, and is only 24 miles from the city of Chicago. The property is located on South Harlem Avenue with a traffic count of 37,800 vehicles daily, and is within close proximity to the entrance/exit ramps for Interstate 294 with a daily traffic count of more than 112,600 vehicles.
The subject property is two miles from Palos Hospital, and Moraine Valley Community College – with an enrollment of more than 26,000 students. The property is also just 10 miles from Chicago Midway International Airport, which is the second-largest airport in the Chicago Metro and the State of Illinois and serves more than 20 million passengers annually.