Tesla - Northbrook
Single-tenant net lease retail property in Northbrook, IL · sponsored by Kingsbarn Realty Capital
Tesla - Northbrook is a DST sponsored by Kingsbarn Realty Capital that owns a single-tenant net lease retail property in Northbrook, IL. Its latest Form D, filed Jun 23, 2026, lists a $35.5 million offering with a $355,900 minimum.
Key facts
- Minimum investment
- $355,900From the Form D
- Offering size
- $35,590,000Equity offered, per the Form D
- Sold so far
- Form D, Jun 23, 2026; the % is our arithmetic69.6%
- Investors reported
- Form D, Jun 23, 202620
- Selling commissions
- Form D Item 15; the % is our arithmetic$860,000 · 2.4% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Sales so far
- Latest Form D
- Jun 23, 2026 · 2 filings
- First sale
- May 1, 2025
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $24,805,000
- Not yet sold
- $10,785,000
- Investors
- 20
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
69.6% of $35,590,000 sold, calculated by Top1031 from the Form D
- Average since first sale
- about $1.8 million a month
See how much of this offering has soldSign in by email and confirm you’re an accredited investor.
Weighing this offering for your exchange? A licensed 1031 specialist from our affiliated partner can go through these filings with you.
Ask a 1031 specialist about this recordFree. About: Tesla - Northbrook. Top1031 is not a broker-dealer.Tesla - Northbrook · Northbrook, IL · Photo: docvault-docs.kingsbarn.com
What does Tesla - Northbrook own?
Kingsbarn says the building was completed in 2024 and designed for Tesla. 2 JLL Capital Markets brokered the sale out of a Focus–Fort Union joint venture and announced it on September 16, 2024, naming Kingsbarn Realty Capital as the buyer. 1 Crain's Chicago Business reported on September 17, 2024 that the facility traded for close to $30 million. 3 Kingsbarn calls it the newest of seven Tesla centers in the Chicago area.
- Property address
- 1200 Skokie Boulevard, Northbrook, IL
- Property size
- approximately 47,995 rentable square feet
Tenant and lease terms are not in the SEC filings or cited sources.
How have sales gone?
The sponsor’s own numbers, with the caveat in Sales so far ↑.
How is it financed, and what did it cost to sell?
No SEC filing or Kingsbarn material reviewed identifies a mortgage, lender or loan balance, so whether the Trust holds this building all-cash or with debt is settled only in the offering documents. For an exchanger, that answer also governs how much replacement-property debt the investment would carry.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $860,000 · 2.4% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $4,555,000 · 12.7% of offeringForm D Item 16· The filing’s note: “Sponsor/its affiliate will receive financing and acquisition fee totaling $4,340,000 for structuring the offering and the property acquisition, plus $215,000 reimbursement for relevant offering expenses incurred related with the Offering totaling.”
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- May 1, 2025
- Minimum investment
- $355,900
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Tesla - Northbrook?
Kingsbarn Realty Capital packages single-tenant, net-leased buildings into Delaware statutory trusts for 1031 exchangers. The June 23, 2026 Form D/A names KB Exchange Properties, LLC as the offering's sponsor, Kingsbarn Realty Capital, LLC as that entity's manager, and KB Northbrook MT, LLC — a sponsor-controlled affiliate — as master tenant, the party that leases the property from the Trust under a master lease. 5 Kingsbarn announced its purchase of the Northbrook Tesla center on September 24, 2024, eight days after the broker announced the sale. 2
- Sponsor
- Offerings on record
What does the SEC record show?
The amendment on record updates progress against the $35,590,000 offering, and the original filing gave May 1, 2025 as the date of first sale of securities. 6 Rule 506(c) permits general solicitation — open advertising — but obliges the sponsor to verify each buyer's accredited status rather than take the buyer's word.
- Legal Trust name
- KB Northbrook, DST
- SEC CIK
- 2071376
- First Form D
- Jun 20, 2025
- Latest Form D
- Jun 23, 2026
- Filings on record
- 2
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $35,590,000 | $24,805,000+$24,001,622 | 20+19 | EDGAR | |
| Form D | $35,590,000 | $803,378 | 1 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- Is Tesla - Northbrook an active offering?
- Tesla - Northbrook is an Active offering: its latest Form D was filed Jun 23, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What does the Trust actually own?
- A single-tenant, net-leased Tesla sales, service and delivery center at 1200 Skokie Boulevard in Northbrook, Illinois, a suburb north of Chicago. Kingsbarn Realty Capital reports approximately 47,995 rentable square feet and describes the building as completed in 2024 and designed for Tesla. Kingsbarn calls it the newest of seven Tesla centers in the Chicago area.
- Who is the tenant, and how does the lease work?
- Tesla, Inc. The lease is triple-net, meaning the tenant pays property taxes, insurance and maintenance rather than the Trust. Tesla's own location directory lists store, delivery-center and service-center operations at the Northbrook address. Lease commencement and expiration, base rent, escalations, renewal options and any corporate guarantee appear in no public source reviewed as of September 27, 2026; those terms sit in the offering documents.
- Does the Trust have debt?
- The public record does not settle it. No SEC filing or Kingsbarn page reviewed discloses a mortgage, lender, loan balance or loan-to-value figure for KB Northbrook, DST, so whether the property is held all-cash or with a loan is confirmed only in the offering documents. For a 1031 exchanger the point matters twice: debt affects the replacement-property debt that may need to be matched, and it shapes the risk of the hold.
- What did Kingsbarn pay, and when did it buy the building?
- JLL Capital Markets, which handled the sale, announced on September 16, 2024 that the Northbrook Tesla facility had sold to Kingsbarn Realty Capital from a Focus–Fort Union joint venture. Crain's Chicago Business reported on September 17, 2024 that it traded for almost $30 million — a press figure, not a verified deed consideration. Kingsbarn issued its own announcement on September 24, 2024; that release date does not by itself establish the closing date, which no source reviewed pins down precisely.
- What is the minimum investment, and how is the offering structured?
- The June 23, 2026 Form D/A reports a $35,590,000 total offering described by the issuer as 100 Class 1 beneficial interests priced at $355,900 each, which is also the stated minimum investment from any outside investor. The full fee table — acquisition, asset management and disposition fees — is disclosed only in the offering documents.
In the news
Sources
Show sources (8)Hide sources (8)
These links support the record as a whole; individual details may come from different sources.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.