Population
2,664,000
Growth (5Y)
-1.8%
Median Income
$65,000
Metro GDP
$769B
Market Overview
Chicago is the Midwest's undisputed economic capital and a major NNN investment market, particularly noteworthy as the global headquarters of both McDonald's and Walgreens — the two most prolific NNN tenants in the nation. Despite Illinois' challenging fiscal environment, the suburban Chicago NNN market (Will, DuPage, and Lake counties) offers strong cap rates (5.5–7.5%) with access to top-tier investment-grade tenants. The metro's scale and liquidity make it one of the most active NNN markets in the country for both acquisitions and dispositions.
Key Highlights
McDonald's and Walgreens global headquarters anchor one of the strongest NNN brand presences
Third largest metro economy in the US with unparalleled financial services infrastructure
O'Hare International Airport is the nation's second busiest — critical logistics hub
Illinois enterprise zones offer specific tax incentives for NNN development in opportunity areas
Why Invest in Chicago
- 1McDonald's and Walgreens headquarters — the most dominant NNN tenants in the nation
- 2Suburban Chicago offers strong cap rates with access to investment-grade corporate guarantees
- 3Nation's third-largest metro economy provides exceptional market liquidity for entry and exit
- 4O'Hare-adjacent logistics economy supports massive distribution and manufacturing employment
Recent NNN Activity
"Chicago metro NNN market posted $740M in transactions in 2024. Will County (Joliet, Bolingbrook) and Lake County (Gurnee, Waukegan) were the most active suburban submarkets. McDonald's corporate-guaranteed ground leases in suburban Chicago commanded sub-5% cap rates from institutional buyers."
NNN Snapshot
Cap Rate Range
5.5% - 7.5%
Price Range
$1.8M - $6.5M
Avg Lease Term
14 Years
Unemployment Rate
4.8%
Active NNN Tenants
McDonald'sWalgreensCVSDollar GeneralAutoZoneStarbucks7-Eleven
Major Employers
BoeingUnited AirlinesWalgreens Boots AllianceMcDonald'sCaterpillarDeere & CompanyHyatt
Find NNN Properties in Chicago
Our advisors have exclusive, off-market NNN inventory in the Chicago market right now. Contact us to see what's available before it hits the public market.