Tesla - Northbrook
Single-tenant net lease retail (auto sales & service center) property in Northbrook, Illinois — sponsored by Kingsbarn Realty Capital
Files with the SEC as KB Northbrook, DST
Minimum investment
$356k
Offering size
$35.6M
How much has sold
70.0%
Asset type
Single-tenant net lease retail (auto sales & service center) property
Location
Northbrook, Illinois
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
KB Northbrook, DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in real estate — that owns a build-to-suit Tesla sales, service and delivery center north of Chicago. Kingsbarn Realty Capital says it closed the purchase on September 24, 2024.1 The Trust is still raising from accredited investors, those meeting SEC income or net-worth tests.
Tenant: Tesla Inc; newly built build-to-suit, NNN; newest of 7 Chicago-area Tesla centers; 506(c), $35.6M offering
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These links support the public record as a whole; individual details may come from different sources.
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What exactly is the property?
The building was completed in 2024 and designed for Tesla, Inc., with service and maintenance space, a design studio, a customer lounge and administrative offices, according to Kingsbarn Realty Capital.1 Kingsbarn closed its purchase on September 24, 2024.1 The Real Deal reported a price of nearly $30 million, roughly $625 per square foot — press reporting, not a filed figure.2
- Property address
- 1200 Skokie Boulevard, Northbrook, Illinois
- Property size
- approximately 47,995 rentable square feet
Who is the tenant, and what's the lease?
Tesla, Inc. is the tenant, and Tesla's own location page lists delivery-center and service-center operations at the address.3 The lease is triple-net, meaning Tesla rather than the Trust carries taxes, insurance and maintenance. No public source reviewed states lease commencement, expiration, base rent or escalations; those sit in the private placement memorandum, the offering's governing disclosure document.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
70.0% reported sold
- Amount sold
- $24,805,000
- Still available
- $10,785,000
- Investors reported
- 20
- Total offering
- $35,590,000
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How is it financed, and what does it pay?
No SEC filing or sponsor material reviewed discloses a mortgage, lender or loan balance for this Trust, so whether the property is held all-cash or with debt is settled only in the private placement memorandum. The distinction matters to an exchanger who has debt as well as equity to replace.
Who's behind it?
Kingsbarn Realty Capital assembles single-tenant, net-leased buildings into Delaware statutory trusts for 1031 exchangers. Its June 23, 2026 Form D/A reports estimated sales commissions of $860,000, a $4,340,000 financing and acquisition fee to the sponsor or an affiliate, and $215,000 of offering-expense reimbursement.4 As of September 1, 2026, Kingsbarn's own detail page for this offering returned an unavailable-or-closed message, while the SEC record shows the raise open.5
- Sponsor
- Kingsbarn Realty Capital
- Legal Trust name
- KB Northbrook, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 10 active / 31 total offerings from Kingsbarn Realty Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
One amendment follows the original notice: it reports a first sale of interests on May 1, 2025, a $35,590,000 total offering of Class 1 beneficial interests, and updated raise and investor figures.4 The exemption claimed permits general solicitation — open advertising — but requires the sponsor to verify that each buyer is accredited.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
Is Tesla - Northbrook still raising money?
Top1031 lists Tesla - Northbrook as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Tesla - Northbrook?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
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 describes it as approximately 47,995 rentable square feet, completed in 2024 and designed for Tesla, Inc., with service and maintenance space, a design studio, a customer lounge and administrative offices. Kingsbarn says it closed its purchase on September 24, 2024.
Who is the tenant, and how does the lease work?
Tesla, Inc. Tesla's official location page lists Tesla Northbrook at 1200 Skokie Blvd., Northbrook, IL 60062, with delivery-center and service-center operations on site. The lease is triple-net, so the tenant carries taxes, insurance and maintenance rather than the Trust. Lease commencement and expiration, base rent, escalations, renewal options and any corporate guarantee appear in no public source reviewed as of September 1, 2026; they are disclosed in the private placement memorandum.
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. Whether the property is held all-cash or with a loan, and on what terms, is confirmed only in the private placement memorandum. 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 for the building, and who handled the sale?
JLL Capital Markets announced the sale of the newly built Tesla sales, service and delivery center in Northbrook in September 2024, identifying Kingsbarn Realty Capital as the buyer. Crain's Chicago Business reported the price at approximately $30 million, and The Real Deal reported nearly $30 million, about $625 per square foot. Those are broker and press figures, not amounts filed with the SEC.
What fees does the SEC filing disclose?
The Form D amendment dated June 23, 2026 reports estimated sales commissions of $860,000, a $4,340,000 financing and acquisition fee payable to the sponsor or an affiliate, and $215,000 as reimbursement of relevant offering expenses. A Form D discloses only what the issuer chooses to report there; the complete fee and expense table, including any ongoing asset management or disposition fees, is in the private placement memorandum.
Is the offering still open?
The public record is mixed. The most recent Form D amendment, filed June 23, 2026, still reports an unsold balance of the $35,590,000 offering, which is why this record shows the Trust as raising. But as of September 1, 2026, Kingsbarn's own offering-detail page for KB Northbrook returned an unavailable-or-closed message and the property did not appear on its current-offerings index. Closure is unresolved from public sources; the sponsor or a selling broker-dealer can confirm current availability.
Chapter 9Kingsbarn Purchases Tesla Sales and Service Center in Affluent Suburb of ChicagoKingsbarn announces closing of its purchase of the Tesla sales and service center at 1200 Skokie Boulevard, Northbrook, IL, framed as a build-to-suit, net-leased, single-tenant DST offering. North Shore Tesla facility trades hands for almost $30 millionCrain's reports the recently completed Tesla sales/service/delivery center in Northbrook sold for approximately $30 million to a Kingsbarn Realty Capital entity. JLL Capital Markets closes sale of Tesla delivery center in NorthbrookJLL announces sale of the newly built Tesla Sales, Service and Delivery Center at 1000 Skokie Blvd in Northbrook, IL; Kingsbarn Realty Capital is identified as the buyer.