KFC

Chicago, IL

Price $1,333,000
Cap Rate 5.25%
TYPE Single-Tenant
STATUS Under Contract
Tenant KFC
LEASE TYPE Absolute NNN
SQUARE FEET 2,232
PRICE/SQ FT $597
YEAR BUILT 1951
LEASE EXP. 2038
LISTING AGENT Justin Zahn
480-214-5088 x102
justin@ciadvisor.com

Property Description

KFC has a brand new 20 year Absolute NNN lease with 5% rental escalations every 5 years and two 5 year renewal options. The tenant, KBP Foods, is the largest KFC franchisee in the US, operating 575 locations in 20 states and will generate sales in excess of $650M in 2018. This location has been open and operating for decades with an attractive 7.87% rent-to-sales ratio. This location is slated for substantial remodel by 2023, further solidifying the tenant’s commitment to the site!

The subject property is located in Chicago, IL with high drive-by visibility on the hard corner of W North Ave. KFC is within 3 miles of Concordia University Chicago (5,600 students), Dominican University (3,520 students), and West Suburban Medical Center Oak Park (287 beds). Nearby retailers include Target, Lowe’s Home Improvement, Walmart Supercenter, The Home Depot, Menards, Burlington, Marshalls, Ross Dress for Less, Babies R Us, Fallas Discount Stores, Harbor Freight Tools, Party City, Pier 1 Imports, PetSmart, Jewel-Osco, Food 4 Less, ALDI, Save-A-Lot, Planet Fitness, AMC Theatres, Dollar Tree, Dollar General, AutoZone, O’Reilly Auto Parts, Walgreens, etc.

*In Association With: Tarrant Harman Real Estate & Auction

Property Highlights

  • Brand New 20 Year Absolute NNN Lease with 5% Rental Escalations Every 5 Years
  • Successfully Open & Operating for Decades with an Attractive 7.87% Rent-to-Sales Ratio!
  • Situated on the Hard Corner and Enjoys High Drive-by Visibility on the Main East/West Thoroughfare on W North Avenue where Traffic Counts Exceed 24,300 CPD
  • Tenant: KBP Foods - The Largest KFC Franchisee in the U.S. Operating 575 Locations in 20 States & Will Generate Sales in Excess of $650 Million in 2018
  • Pending Remodel: Slated for Substantial Remodel by 2023, Further Solidifying the Tenant’s Commitment to the Site!
  • Densely Populated (Infill) Location – Total Population (5 MI): 931,443 | Avg HH Income (1 MI): $77,912