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