The Eleven 20 Club in Downtown Oak Park, a 63,256 square foot retail destination in one of the most affluent cities on Chicagoʹs West Side. The Eleven 20 Club is new construction and boasts prominent Tenants including Bar Louie, Lane Bryant, and MultiPlex Fitness Center. The retail tenants Bar Louie and Lane Bryant are on the first floor of the property, while Multi‐ Plex Fitness occupies the second and third floors. Directly above the retail there are 44 condominium units (43 condominium units are sold). Condominium units at The Eleven 20 Club are sold between $300,000 and $1,000,0000.
The Eleven 20 Club will be completed by the end of Summer 2006, and the retail tenants begin paying rent this Fall. All leases for the retail tenants are virtually NNN with rental increases. Bar Louie has an initial Ten Year (10) Lease with Three Percent (3%) annual increases including Two/Five Year Options (2/5 Yr). Lane Bryant also has a Ten Year (10) Lease with $3.25/SF increases every Five (5) years. Multi‐ Plex Fitness Center has an initial Twenty Year (20) Lease with their rent increasing $1.50/SF every Five (5) years. In addition, Bar Louie and Lane Bryant have percentage rent clauses in their Lease.
The Eleven 20 Club is situated in the heart of Oak Park, and it is surrounded by other National Tenants including Starbucks, Chipotle, Borders Books, Gap, Panera, Talbotʹs. In addition, the famous Oak Park Lake Street Theater and River Forest Town Center sit on either side of The Eleven 20 Club. One block to the East of the Subject Property is a train station that shuttles commuters to and from Chicago or the far Western Suburbs. The Eleven 20 Club is the epicenter of business and pleasure in a growing community.
