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Hobby Lobby

2360 S Randall Rd, Algonquin, IL, US
Total Size
55,161 sqft

About Hobby Lobby

Transwestern is pleased to offer for sale to qualified investors a long-term net leased property in Algonquin, IL. The fee simple offering is
100 percent leased to Hobby Lobby.

The lease commenced in August of 2012 and has a 15-year primary term, with three five-year tenant options to extend. Rent increases fifty cents per square foot every five years during the primary term as well as the option periods.

The subject property is located on the southwest corner of Randall Road and Corporate Parkway. Over 43,700 cars pass the property daily. The area has a three-mile average household income of $116,896 and a five-mile population of over 147,194 people.

Developed in 2012, the property consists of three acres of land improved with a 55,161 SF Hobby Lobby store. The duration of the corporate guaranteed lease, strong market co-tenancy, high barriers to entry and high traffic counts make this property a solid long-term investment.

Hobby Lobby is a leader in the arts and crafts industry. The company currently has over 600 locations across the nation that average 55,000 square feet and stock more than 67,000 crafting and home décor products. With over $3 Billion in revenue, steady growth and no long term debt, Hobby Lobby has excellent financial fundamentals and is consistently included in Forbes list of America’s Largest Private Companies.

Companies at Hobby Lobby

Hobby Lobby Home Goods Store Store Point Of Interest

Internet Providers for Hobby Lobby

Provider Technology Max Download Speed Max Upload Speed
Comcast Cable
1 Gb/s
1 Gb/s
MegaPath Corporation Copper Wireline
6 Mb/s
6 Mb/s

The Macro Neighborhood: Far West Algonquin

On average, listings lease in the $0's per square foot per year. The Far West Algonquin region is seeing a decrease in rates. In the last 3 months, the median rate fell $17 per sqft per year. That's a 100% decline in rent.

Median Rate Median Size
Far West Algonquin
/sqft/yr
sqft
Median Rate Median Size
Chicagoland $24
/sqft/yr
2,450
sqft

Median Rate over Time in Far West Algonquin