Log In/Sign Up
Your email has been sent.
Church's Chicken | New 15 Yr Abs NNN Lease 1586 W Lane Rd 3,000 SF 100% Leased Retail Building Machesney Park, IL 61115 $2,903,250 CAD ($967.75 CAD/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 15 Year Lease | Options To Extend | Scheduled Increases Strong Operator | Well Known Fast-Food Brand
- Gateway District | Dense Retail Corridor | National/Credit Tenant Presence
- Strong Demographics In 5-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Located Along W. Lane Rd | Signalized, Hard Corner Intersection | Drive-Thru Equipped | Excellent Visibility & Access
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple (land & building ownership) interest in an absolute NNN leased, drive-thru equipped, Church’s Chicken investment property located in Machesney Park, Illinois. The tenant recently signed a 15-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features a 10% rental increase every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,000 SF
Building Class
C
Year Built/Renovated
2018/2025
Price
$2,903,250 CAD
Price Per SF
$967.75 CAD
Cap Rate
6%
NOI
$174,195 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.09
Lot Size
0.80 AC
Zoning
CG - Commercial General
Parking
38 Spaces (10 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 08-20-228-010 | Improvements Assessment | $378,331 CAD |
| Land Assessment | $114,132 CAD | Total Assessment | $492,463 CAD |
PROPERTY TAXES
Parcel Number
08-20-228-010
Land Assessment
$114,132 CAD
Improvements Assessment
$378,331 CAD
Total Assessment
$492,463 CAD
1 of 8
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Church's Chicken | New 15 Yr Abs NNN Lease | 1586 W Lane Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.