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 in suburban Chicago. JLL announced the building's sale to Kingsbarn Realty Capital on September 16, 2024.3 SEC filings show the Trust still raising from accredited investors, buyers who meet 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.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Kingsbarn says the building was newly constructed and designed for Tesla, Inc., whose facilities require significant specialized improvements.1 The sponsor's acquisition release describes the center as completed in 2024.6 JLL Capital Markets, which announced the sale on September 16, 2024, identified the seller as a joint venture between Focus and Fort Union.3 Crain's Chicago Business reported a price of almost $30 million.4
- 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 store locator lists a Northbrook location at this address.2 The lease is triple-net: the tenant, not the Trust, carries property taxes, insurance and maintenance. Commencement, expiration, base rent and renewal options appear in no public source reviewed.
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 Kingsbarn material reviewed discloses a mortgage, lender, loan balance or loan-to-value for this Trust, so whether the building is held all-cash or with debt is settled only in the private placement memorandum, the offering's governing disclosure document. The distinction matters to an exchanger who has debt as well as equity to replace.
Who's behind it?
Kingsbarn packages single-tenant, net-leased buildings into Delaware statutory trusts for 1031 exchangers. The latest Form D amendment names KB Exchange Properties, LLC as sponsor, KB Northbrook ST, LLC as trust manager, KB Northbrook Holdings, LLC as depositor, and KB Northbrook MT, LLC as the master tenant that leases the building from the Trust — a common DST arrangement that keeps the Trust itself passive.5 The same filing estimates $4,555,000 of offering proceeds payable to the sponsor or an affiliate, most of it a financing and acquisition fee.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?
The single amendment on record updates the offering's progress and describes 100 Class 1 beneficial interests priced at $355,900 apiece, which is also the stated minimum investment.5 The exemption claimed permits general solicitation — open advertising — but obliges the sponsor to verify that every 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 reports approximately 47,995 rentable square feet and says the building was newly constructed and designed for Tesla, Inc. Kingsbarn describes it as the newest of seven Tesla centers in the Chicago area.
Who is the tenant, and how does the lease work?
Tesla, Inc. Tesla's official store locator lists Tesla Northbrook at 1200 Skokie Blvd., Northbrook, Illinois 60062. The lease is triple-net, meaning the tenant pays property 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 5, 2026; those terms sit 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, and who handled the sale?
JLL Capital Markets announced the sale of the Northbrook Tesla Sales, Service and Delivery Center on September 16, 2024, identifying Kingsbarn Realty Capital as buyer and a joint venture between Focus and Fort Union as seller. Crain's Chicago Business reported the following day that the recently completed center sold for almost $30 million. Those are broker and press figures, not amounts filed with the SEC.
What is the minimum investment, and how is the offering structured?
The June 23, 2026 Form D/A reports a $35,590,000 offering consisting of 100 Class 1 beneficial interests priced at $355,900 each, with $355,900 also stated as the minimum investment. The same filing reports estimated sales commissions of $860,000 and roughly $4,555,000 of proceeds estimated as payable to the sponsor or an affiliate — a $4,340,000 financing and acquisition fee plus $215,000 of offering-expense reimbursement. The complete fee table, including ongoing asset management and disposition fees, is in the private placement memorandum.
Is the offering still open?
The most recent Form D amendment, signed June 23, 2026, still reports part of the offering unsold and does not report completion, which is why this record shows the Trust as raising rather than closed to new investors. Availability can change between filings, so the sponsor or a selling broker-dealer is the place to confirm current status.
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.