2400-2590 Rt 30 & 308-350 Douglas Rd., Oswego, IL 60543
Townes Crossing is a 105,731-square-foot neighborhood center that is 95% leased and offers investors the potential for stable cash flows with potential upside. The center, located in Kendall County, is anchored by a 65,000-square-foot Jewel-Osco grocery store. Jewel-Osco, a subsidiary of Albertsons, is the # 1 grocer by market share in the Chicago MSA per Axios Chicago with this location ranked in the top 25% among over 175 stores in the state based on foot traffic data from Retail Stat. Joining Jewel-Osco at the center is an assortment of daily-needs tenants, with current inline tenants having a weighted average tenure at the shopping center exceeding 17 years.
2400-2590 Rt 30 & 308-350 Douglas Rd., Oswego, IL 60543
Townes Crossing is a 105,731-square-foot neighborhood center that is 95% leased and offers investors the potential for stable cash flows with potential upside. The center, located in Kendall County, is anchored by a 65,000-square-foot Jewel-Osco grocery store. Jewel-Osco, a subsidiary of Albertsons, is the # 1 grocer by market share in the Chicago MSA per Axios Chicago with this location ranked in the top 25% among over 175 stores in the state based on foot traffic data from Retail Stat. Joining Jewel-Osco at the center is an assortment of daily-needs tenants, with current inline tenants having a weighted average tenure at the shopping center exceeding 17 years.
Viewed by 15537 Investors
Purchase Price
Targeted Hold Period
Targeted Net IRR1
Targeted Equity Multiple2
Targeted Average Cash-on-Cash Return3
• Townes Crossing is anchored by Jewel-Osco, a subsidiary of Albertson’s. Jewel Osco is the #1 grocer by market share in the Chicago MSA (per Axios).
• Jewel-Osco sales at Townes Crossing exceed $31M with a strong 2.5% health ratio (rent divided by sales). Further, sales have grown by over 7.5% compounded annually since 2018 and the tenant invested ~$1.5M in interior renovations to its space during 2023, demonstrating their commitment to the center.
• According to RetailStat, this specific Jewel-Osco store not only ranks within the top 25% among over 175 statewide outlets but also leads as the busiest among three nearby locations in terms of overall foot traffic.
• Albertson’s was awarded FNRP’s “Retailer of the Year Award” in 2023 as a result of our excellent working relationship with this national tenant.
• Although still pending, the potential Albertson’s and Kroger merger is not anticipated to impact this Jewel-Osco location.
• Necessity-based tenancy includes Phenix Salons, Subway, Sally Beauty, The UPS Store, Windy City Pizza and Oswego Dental. This merchandising mix is e-commerce resistant and well-suited to the neighborhood trade area.
• Existing inline tenants have a weighted average tenure of over 17 years, demonstrating their commitment to the center.
• Jewel-Osco has operated at the center for over 30 years and comprises over 35% of total revenue.
• The property is located in an affluent, Kendall County suburb located 45 miles west of Downtown Chicago. Average household incomes exceed $124,000 within 5 miles (per Sites USA).
• The trade area boasts strong density with a growing population exceeding 220,000 residents within a 5-mile radius (per Site USA).
• FNRP owns two other grocery-anchored assets in proximity to Townes Crossing. This local knowledge and scale helps maximize operating efficiencies.
• FNRP continues to leverage its relationships to find opportunities that are not available to others. Townes Crossing is being acquired on an off-market basis from a relationship seller, without participating in a typical bid process.
• By acquiring off-market, we believe we’re purchasing the property at a competitive price, especially when taking into consideration the other reasons we are investing.
Assets Under Management
Current Assets
Held
Total Investor Distributions
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Current States
Present
Investors
GLA Acquired Since
Inception
All amounts are as of 03/20/2024.
Viewed by 15538 Investors
NOTE: Cash distributions and any specific returns are not guaranteed. An investment in commercial real estate is subject to risk, including the risk that all of your investment may be lost. Any representations concerning investing in commercial real estate, including, without limitation, any representations as to stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. The ability to make distributions or the amount of distributions may be affected by factors such as debt and lender restrictions, future capital expenditure needs, and financial performance of the property.
This webpage is not intended to be, nor should it be construed or used as, an offer to sell, or a solicitation of an offer to buy any securities, which offer may be made only at the time a qualified offeree receives a current Confidential Offering Memorandum relating to a proposed investment opportunity.
As of 3.21.2024
NOTICE: An investment in commercial real estate is speculative and subject to risk, including, inter alia, the risk that all of your investment may be lost. Any representations herein concerning the viability and profitability of investing in commercial real estate, including, without limitation, the stability, diversification, security, resistance to inflation and any other representations as to the merits of investing in commercial real estate reflect our belief concerning the representations and may or may not come to be realized. Cash distributions and any specific returns are not guaranteed. Securities are only available to verified accredited investors who can bear the risk of loss of their investment.
The information contained herein, including text, graphics, images and information, is general in nature and is for informational and illustration purposes only.
FNRP makes no representations or warranties of any nature whatsoever regarding any tax matters, including, without limitation, the ability of an investor to invest in FNRP with its specific self-directed IRA vehicle. The investor should independently obtain advice from his or her own independent legal counsel and/or tax accountant and/or IRA servicer regarding any such investment and the tax benefits and burdens associated with same.
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2400-2590 Rt 30 & 308-350 Douglas Rd.
Oswego, IL 60543
“…In my experience in working with FNRP, I have seen a genuine desire to build trust and forge partnerships with all stakeholders through their transparency and integrity…”
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2400-2590 Rt 30 & 308-350 Douglas Rd.
Oswego, IL 60543
“…In my experience in working with FNRP, I have seen a genuine desire to build trust and forge partnerships with all stakeholders through their transparency and integrity…”
Investor
Welcome Investors
Select the best option to get started..
Investment Request
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