National Carwash Solutions
11220 Main St
Huntley, IL 60142
Highlights
- New Triple-Net Lease with National Carwash Solutions, Inc, a part of the Berkshire Partners Portfolio of Companies
- 4% Increases at option renewals
- Owner Recently Spent +/- $1 Million on Improvements Including the Lighting System, HVAC, Roof, a New 10,000 Square Foot Office with Three Private Offices and a Cafeteria
- $250k was Spent on the Welding Operation
- NCS is the Vehicle Care Industry's Leading Full-Service Fluids and Systems Provider.
- Company in Operation at the Current Location Since 2022
- Strategically Located 0.6 Miles to Route 47 and 3.6 Miles to Highway 90
Description
Graystone Capital Advisors is pleased to present National Carwash Solutions (NCS), a part of the Berkshire Partners’ Portfolio of Companies, located in Huntley, Illinois. NCS is the vehicle care industry's leading full-service fluids and systems provider. Recently acquired International Drying Corp (IDC) is located on 11220 Main Street, which is strategically located half a mile from Route 47 and three and a half miles from Highway 90. Located in the Chicago MSA, they benefit from an over $105,000 average household income in a 1- mile radius.
The new lease of the 67,700-square-foot facility is for 2 years and features 4% increases at the start of each option period. With considerable capital improvement of over $1M put into this location and prohibitive relocation costs, this asset offers an investor built-in security of long-term dedication to the location with the large capital investment.
NCS (formerly IDC) has been in operation since 1982. They have been located at this location since 2022. This asset offers an investor a healthy return with a tenant that shows dedication to the location and long-term profitability.
McHenry County is located in northeastern Illinois, approximately 50 miles northwest of downtown Chicago. The county is part of the Chicago metropolitan area and is known for its mix of suburban and rural communities and a diverse economy with a mix of industries. Some of the significant sectors include manufacturing, healthcare, retail trade, construction, and professional services. Manufacturing has historically played a vital role in the county's economy, with various industries ranging from metal fabrication to pharmaceuticals.
The manufacturing sector in McHenry County is robust and supports a significant portion of the local economy. It includes companies involved in machinery, metal products, plastics, automotive components, and food processing. Manufacturing jobs have been a cornerstone of the county's economic growth and provide employment opportunities for the local population.
The healthcare and education sectors are also important contributors to the local economy. The county is home to several hospitals, medical centers, and educational institutions, providing employment opportunities in healthcare services, education, and research.
Retail trade and service industries contribute to the economic activity in the county. The county has a range of shopping centers, restaurants, entertainment venues, and other businesses catering to residents and visitors. These sectors provide jobs and contribute to the local tax base.
The housing market in McHenry County is influenced by its proximity to the Chicago metropolitan area. The county offers a mix of suburban neighborhoods, rural areas, and recreational opportunities due to its location near lakes and forest preserves. Housing prices and trends can vary depending on specific locations within the county.
Vacancy in the McHenry County industrial submarket is 6.0% and has decreased by 0.5% over the past 12 months. During this period, 220,000 SF has been absorbed, and 32,000 SF has been delivered. Rents are around $8.80/SF, which is an 8.5% increase from where they were a year ago. In the past three years, rents have increased by a cumulative 24.0%. There is nothing currently under construction. In the past year there have been 57 sales and the market sale price is now $65/SF, noticeably higher than its trailing three-year average of $58/SF.