Absolute Net Dark KFC in North Chicago
2200 North Green Bay Road, North Chicago, IL, USA Map
Listing Price $940,000
| Status | Closed |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 6% |
| GLA (Sq. Ft.) | 2,207 |
| NOI | $56,400 |
| Lease Term Remaining | 4 Years |
| State (BOR) | 471.011175 |
| Broker of Record | Steven Weinstock |
| Close Date | Mar 8, 2024 |
Investment Highlights
- Robust Traffic Counts on Martin Luther King Jr Dr (12,628
VPD) and Green Bay Rd (14,235 VPD), a Half Mile off of
Highway 41 (36,313 VPD) (Source: LandVision, CoStar,
2022) - Tenant KBP Brands Currently Operates 799 Restaurants
(660 KFCs & 139 Taco Bells) in 28 States and has
Surpassed $1 Billion in Annual Revenue - Community with an Average Household Income of
Over $104,000 within Five Miles of the Subject Asset, as
of 2022 - Subject is 28 Miles from Chicago O’Hare International
Airport, Serving 30 Million Passengers Annually
(flychicago.com) and Conveniently Located Less Than 2
Miles from the Great Lakes Rail Station - Parks and Outdoor Recreational Facilities Nearby Include:
Foss Park Golf Course, Veterans Memorial Golf Course,
MWR Great Lakes Marina, Shoreacres, Lake Bluff, West
Park, and More - Well Established Retail Corridor | Nearby National Retailers Include: O’Reilly Auto Parts, Arby’s, Wendy’s, Popeyes, Domino’s, Starbucks, McDonald’s, and Others
Investment Overview
Subject is a Prime 2,207 Square-Foot Dark KFC on a .22-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, and Strategically Located on a Signalized Intersection. Absolute NNN Lease with a 10-Year Base Term, 4 Years Remaining, and Zero Landlord Responsibility
