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Absolute Net Dark KFC in North Chicago

2200 North Green Bay Road, North Chicago, IL, USA Map
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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

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  • 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

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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