337 NNN properties are observed for sale in Illinois across 166 tenants and 194 cities as of October 23, 2026, at a median asking cap rate of 6.97%, 62 basis points above the national median of 6.35%. Investment Grade Research tracks each one across publicly marketed offerings and broker materials, checks every tenant against the investment grade threshold, and publishes the observations here: which tenants and cities carry the inventory, what it is asking, how Illinois prices against the national market, and how an acquisition or 1031 exchange buyer should work through it.
Asking cap rates in Illinois run from 4.00% to 11.35%, with the middle half of listings between 6.00% and 7.60%. Median asking price $2.61M (median $391 per SF). Average remaining lease term 8.3 years among 123 listings that state a term. 32 listings report a 2026 build year. 155 listings came to market and 109 left the market in the last 90 days. Figures update automatically across publicly marketed offerings and broker materials.
NNN Properties For Sale in Illinois: Latest Listings
Up to twenty-four single-tenant net lease properties in Illinois with published pricing, the newest from each tenant first so the table reflects the whole Illinois market rather than one or two active tenants. Below the table, the full listing browser carries every Illinois listing with tenant, city, cap rate, price and term filters. Open any listing and register for full property data, including the address, location map and an IG summary with due diligence questions.
| Tenant | City | Asking Price | Cap Rate | NOI | Term Left | Built | Lease | |
|---|---|---|---|---|---|---|---|---|
| REI | Hoffman Estates | $4,286,065 | 9.15% | $392,175 | n/a | 2016 | Not stated | Get full property data |
| 7 Brew | Dixon | $1,238,532 | 5.45% | $67,500 | n/a | 2026 | Not stated | Get full property data |
| Mattress Warehouse | Chicago | $1,728,000 | 7.35% | $127,025 | n/a | 1986 | Not stated | Get full property data |
| La Fitness | Round Lake Beach | $10,115,000 | 7.75% | $783,895 | n/a | 1995 | Not stated | Get full property data |
| KFC | Belleville | $1,190,000 | 6.63% | $78,848 | n/a | 2008 | Not stated | Get full property data |
| Take 5 Oil Change | Mount Prospect | $1,415,000 | 7.00% | $99,000 | n/a | 2021 | Not stated | Get full property data |
| Fresenius Medical Care | East Peoria | $3,052,000 | 6.15% | $187,727 | n/a | 1998 | Not stated | Get full property data |
| The Neighborhood Clinic | Normal | $5,800,000 | 7.45% | $432,000 | n/a | 2026 | Not stated | Get full property data |
| Dollar General | Mount Olive | $388,000 | 10.49% | $40,697 | n/a | 2000 | Not stated | Get full property data |
| T.J. Maxx | Homewood | $3,836,000 | 7.50% | $287,766 | n/a | 2005 | Not stated | Get full property data |
| Ross | Homewood | $3,623,000 | 7.25% | $262,680 | n/a | 2005 | Not stated | Get full property data |
| Petco | Homewood | $3,221,000 | 7.50% | $241,584 | n/a | 2005 | Not stated | Get full property data |
| Tutor Time | Itasca | $2,687,000 | 8.00% | $214,963 | n/a | 2002 | Not stated | Get full property data |
| 7-Eleven | Chicago | $3,823,417 | 6.00% | $229,405 | n/a | 2020 | Not stated | Get full property data |
| Dutch Bros | Peoria | $2,820,000 | 5.85% | $164,989 | n/a | 2026 | Not stated | Get full property data |
| Walgreens | Glen Ellyn | $4,826,670 | 7.50% | $362,000 | n/a | 2001 | Not stated | Get full property data |
| Popeyes | Zion | $2,519,685 | 6.35% | $160,000 | n/a | 2022 | Not stated | Get full property data |
| Chipotle | Broadview | $2,830,200 | 5.30% | $150,000 | n/a | 2026 | Not stated | Get full property data |
| Pollo Campero | Chicago | $3,440,435 | 5.75% | $197,825 | n/a | n/a | Not stated | Get full property data |
| Hardee's | Chillicothe | $1,086,000 | 7.00% | $76,000 | n/a | 2005 | Not stated | Get full property data |
| Aqua Express Car Wash | Normal | $3,337,538 | 6.15% | $205,259 | n/a | 2016 | Not stated | Get full property data |
| Rainstorm Express Car Wash | Springfield | $3,781,054 | 5.90% | $223,082 | n/a | 2012 | Not stated | Get full property data |
| Thrive Pet Healthcare | Chatham | $594,600 | 9.25% | $55,000 | n/a | 1999 | Not stated | Get full property data |
| BrightPath Academy | Kildeer | $7,213,000 | 7.00% | $504,900 | n/a | 2022 | Not stated | Get full property data |
Showing 24 of 337 observed Illinois listings: the newest from each tenant first, then each tenant’s next newest. Listings without a published asking price and cap rate are not shown here.
Market observations aggregated from publicly marketed offerings and broker materials; not offerings by Investment Grade Income Property, LP. Asking price, cap rate and NOI as published by the offering party. Information deemed reliable but not guaranteed. Verify all figures before relying on them.
Illinois NNN Properties by Tenant
Listing count, median asking cap rate and cap range by tenant. Tenants with a linked page have a full credit rating, cap rate and inventory profile; the rest are tracked here at the state level until they earn a page of their own.
| Tenant | Listings | Median Cap | Cap Range | Median Price | |
|---|---|---|---|---|---|
| Walgreens | 25 | 8.00% | 6.00% to 10.00% | $4.00M | Walgreens NNN for sale |
| Dollar General | 24 | 7.35% | 6.10% to 10.49% | $1.20M | Dollar General NNN for sale |
| 7-Eleven | 10 | 5.15% | 5.15% to 7.75% | $3.99M | 7-Eleven NNN for sale |
| Dutch Bros | 9 | 5.50% | 5.15% to 5.85% | $3.15M | Dutch Bros NNN for sale |
| Rainstorm Express Car Wash | 9 | 6.15% | 5.65% to 6.15% | $3.89M | |
| 7 Brew | 8 | 6.00% | 5.45% to 6.45% | $1.77M | |
| Family Dollar | 6 | 8.82% | 6.88% to 10.00% | $1.01M | Family Dollar NNN for sale |
| KFC | 6 | 6.82% | 5.00% to 7.75% | $1.66M | |
| Aqua Express Car Wash | 5 | 6.15% | 5.90% to 6.15% | $3.34M | |
| Arby's | 5 | 6.50% | 6.15% to 6.50% | $1.56M | Arby's NNN for sale |
| CVS | 5 | 6.60% | 6.00% to 7.80% | $3.40M | CVS NNN for sale |
| Dollar Tree | 5 | 8.00% | 7.75% to 10.00% | $1.38M | Dollar Tree NNN for sale |
| Starbucks | 5 | 5.75% | 5.00% to 7.00% | $2.60M | Starbucks NNN for sale |
| Advance Auto Parts | 4 | 7.00% | 6.75% to 7.95% | $1.41M | Advance Auto Parts NNN for sale |
| Fifth Third Bank | 4 | 5.88% | 5.00% to 6.33% | $3.84M | Fifth Third Bank NNN for sale |
| KinderCare | 4 | 7.50% | 7.15% to 7.52% | $5.44M | |
| LA Fitness | 4 | 7.13% | 5.75% to 8.00% | $17.04M | |
| Panera Bread | 4 | 6.03% | 6.00% to 6.15% | $2.85M | |
| Taco Bell | 4 | 5.85% | 4.35% to 6.10% | $1.86M | Taco Bell NNN for sale |
| Wendy's | 4 | 6.25% | 5.25% to 7.70% | $2.53M | Wendy's NNN for sale |
| Caliber Collision | 3 | 7.00% | 5.95% to 7.33% | $2.97M | |
| Chipotle | 3 | 5.35% | 5.30% to 5.60% | $2.83M | Chipotle NNN for sale |
| DaVita | 3 | 6.75% | 6.40% to 7.50% | $2.12M | DaVita NNN for sale |
| Heartland Dental | 3 | 7.00% | 5.50% to 7.25% | $1.89M | Heartland Dental NNN for sale |
| O'Reilly Auto Parts | 3 | 6.00% | 5.80% to 6.50% | $2.11M | O'Reilly Auto Parts NNN for sale |
| Raising Cane's | 3 | 5.00% | 5.00% to 5.00% | $3.10M | |
| Sonic Drive-In | 3 | 6.50% | 6.50% to 6.50% | $1.87M | Sonic Drive-In NNN for sale |
| Sparkle Express Car Wash | 3 | 6.38% | 6.25% to 6.50% | $3.38M | |
| Action Behavior Centers | 2 | 8.12% | 8.00% to 8.23% | $3.09M | |
| Advance Auto Parts | 2 | 8.25% | 8.25% to 8.25% | $1.68M | Advance Auto Parts NNN for sale |
| Advocate Health & Hospitals | 2 | 6.61% | 6.05% to 7.16% | $1.98M | |
| Albertsons | 2 | 5.50% | 5.50% to 5.50% | $13.09M | Albertsons NNN for sale |
| Applebee's | 2 | 7.85% | 6.78% to 8.91% | $2.11M | Applebee's NNN for sale |
| ATI Physical Therapy | 2 | 7.75% | 7.25% to 8.25% | $1.43M | ATI Physical Therapy NNN for sale |
| AutoZone | 2 | 5.80% | 5.75% to 5.85% | $1.52M | AutoZone NNN for sale |
| BMO Bank | 2 | 6.50% | 5.75% to 7.25% | $3.86M | BMO Bank NNN for sale |
| Burger King | 2 | 6.89% | 5.90% to 7.88% | $2.17M | Burger King NNN for sale |
| Circle K | 2 | 6.38% | 6.00% to 6.75% | $2.98M | Circle K NNN for sale |
| Endeavor Health | 2 | 7.00% | 7.00% to 7.00% | $2.21M | |
| Firestone | 2 | 6.38% | 6.00% to 6.75% | $1.90M | Firestone NNN for sale |
Tenants with the most Illinois listings observed (top 40 of 166). Tenants with a linked page have a full credit and inventory profile; 183 of the 337 listings belong to tenants with a profile page.
Illinois NNN Properties by Category
- QSR NNN properties for sale (35 in Illinois across 8 tenants)
- Dollar Store NNN properties for sale (35 in Illinois across 3 tenants)
- Pharmacy NNN properties for sale (30 in Illinois across 2 tenants)
- Auto Parts and Service NNN properties for sale (13 in Illinois across 5 tenants)
- Gas Station and C-Store NNN properties for sale (12 in Illinois across 2 tenants)
- Healthcare NNN properties for sale (8 in Illinois across 3 tenants)
- Bank Branch NNN properties for sale (6 in Illinois across 2 tenants)
- Grocery and Big Box NNN properties for sale (2 in Illinois across 1 tenants)
- Casual Dining NNN properties for sale (2 in Illinois across 1 tenants)
Counts cover tenants with a profile page; the category pages aggregate the same tenants nationally.
Illinois NNN Properties by City
Chicago carries 32 of the 337 Illinois listings observed, and the next largest concentrations are Chicago (32), Springfield (12), Peoria (10). Downstate inventory is spread across many smaller cities where dollar stores, pharmacies and auto parts tenants dominate, while the Chicago metro carries the restaurant, bank and car wash inventory. Tap any city to filter the full listing browser to that city.
| City | Listings | Median Cap | Avg Asking Price |
|---|---|---|---|
| Chicago | 32 | 6.75% | $3.46M |
| Springfield | 12 | 6.88% | $3.62M |
| Peoria | 10 | 6.15% | $2.92M |
| Moline | 9 | 7.00% | $2.29M |
| Homewood | 6 | 7.38% | $3.58M |
| Champaign | 5 | 6.15% | $3.43M |
| Decatur | 5 | 6.75% | $3.95M |
| East Peoria | 5 | 6.50% | $2.71M |
| Rockford | 5 | 7.25% | $2.58M |
| Danville | 4 | 8.24% | $2.17M |
| Forsyth | 4 | 7.63% | $1.85M |
| Mokena | 4 | 6.63% | $4.40M |
| Naperville | 4 | 6.30% | $5.40M |
| Round Lake Beach | 4 | 7.81% | $4.52M |
| Vernon Hills | 4 | 6.13% | $13.18M |
| Addison | 3 | 6.50% | $6.76M |
| Aurora | 3 | 8.00% | $3.85M |
| Bloomington | 3 | 6.15% | $2.86M |
| Bolingbrook | 3 | 7.50% | $4.65M |
| Effingham | 3 | 6.15% | $3.64M |
Cities with the most Illinois listings observed (top 20 of 194). Tap a city to filter the full listing browser.
How Illinois Prices Against the National NNN Market
The Illinois median asking cap rate of 6.97% sits 62 bps above the national median of 6.35% across all observed listings. Part of that spread is tenant mix, since dollar stores and pharmacies trade at wider cap rates than restaurants and banks anywhere in the country, and part is location, since downstate Illinois carries more rural inventory than the Chicago suburbs. Compare a listing to its tenant’s national cap rate bands on the tenant page before reading the state spread as a discount; the investment grade guide explains how tenant credit sets the floor under those bands.
Illinois Taxes and the 1031 Exchange Buyer
General information, not tax or legal advice. Confirm every item below with your CPA, tax attorney and qualified intermediary before you rely on it.
- Income tax. Illinois taxes individual income at a flat 4.95 percent (35 ILCS 5/201(b)(5.4)).
- 1031 conformity. Illinois base income starts from federal adjusted gross income (35 ILCS 5/203), so gain deferred under Internal Revenue Code Section 1031 is also deferred for Illinois purposes, including exchanges out of Illinois into property in another state. Illinois has no separate exchange claw-back provision.
- Transfer tax. The state real estate transfer tax is $0.50 per $500 of consideration (35 ILCS 200/31-10) and counties may add $0.25 per $500 (55 ILCS 5/5-1031). Chicago adds a municipal transfer tax under Chicago Municipal Code chapter 3-33, with a buyer portion and a seller portion, so a Chicago closing carries a materially higher transfer cost than a downstate one.
- Property tax. Cook County assesses commercial property at 25 percent of market value (Cook County Code of Ordinances Sec. 74-64), versus the 33 1/3 percent statutory level that applies elsewhere in Illinois (35 ILCS 200/9-145), and Cook County reassesses on a triennial cycle. Under a true NNN lease the tenant pays the tax, but the burden still sets what a replacement tenant could pay in rent, so Cook County reassessment belongs in the underwriting of any Chicago-area net lease.
- Exchange timing. The 45-day identification and 180-day exchange periods come from Internal Revenue Code Section 1031 and Treasury Regulation 1.1031(k)-1. Illinois buyers exchanging out of a Cook County asset often identify downstate or out-of-state replacement property for the cap rate spread; the full listing browser above filters Illinois by tenant and city, and every tenant page carries national inventory for the same credit.
Frequently Asked Questions: NNN Properties For Sale in Illinois
How many NNN properties are for sale in Illinois right now?
As of October 23, 2026, 337 single-tenant net lease properties are observed for sale in Illinois across 166 tenants and 194 cities. The count updates automatically as listings are added and withdrawn.
What cap rates are Illinois NNN properties asking?
The median asking cap rate across observed Illinois listings is 6.97%, with the middle half of listings between 6.00% and 7.60%. That median is 62 bps above the national median of 6.35%. Cap rates vary by tenant, guarantee, remaining term and location; confirm the lease before relying on any single figure.
Which tenants have the most NNN listings in Illinois?
The tenants with the most observed Illinois listings right now are Walgreens (25), Dollar General (24), 7-Eleven (10). The tenant table above lists the top 40.
Which Illinois cities have the most NNN properties for sale?
The cities with the most observed listings are Chicago (32), Springfield (12), Peoria (10). The city table above lists the top 20 and filters the full listing browser.
Does Illinois tax the gain deferred in a 1031 exchange?
As general information, Illinois base income starts from federal adjusted gross income (35 ILCS 5/203), so gain that is deferred under Internal Revenue Code Section 1031 for federal purposes is not taxed by Illinois in the year of the exchange, and Illinois has no separate claw-back when the replacement property is outside the state. Confirm your situation with a CPA or tax attorney.
Are these listings offered by Investment Grade?
No. These are market observations aggregated from publicly marketed offerings and broker materials, not offerings by Investment Grade Income Property, LP. Registering for full property data connects you with our team for buyer representation and due diligence; the listing broker remains the listing broker.
