108 N 4th St, Chillicothe, IL 61523

Building Details

Year Built 2005 More

Year Renovated 2012 More

Buildings 1 More

Listing Agency: Secure Net Lease - Dallas Show Phone

Listed By: Russell Smith · License #587553 Show Phone

Source: Moodyscre

Added: Jan 15, 2025 Changed: Oct 25 Last Checked: Nov 6 at 11:46AM

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Investment Insights

Based on property information with market context.

This NNN-leased restaurant property was constructed in 2005 and renovated in 2012. The building offers 3,415+/- SF on a 0.68+/- acre site and is operated under a recently extended 20-year NNN lease. The lease has (4) 5-year options to renew, with 10% rental increases every 5 years.

The tenant is Hardee’s, which operates over 1,800 restaurants across the U.S. and 13 other countries. The lease is guaranteed by LBE Holdings, which includes 64 units. The property is located 15 miles north of downtown Peoria, IL, 100 miles southwest of Chicago, IL, and 150 miles northeast of St. Louis, MO.

Key Highlights

• 3,415+/- SF building built in 2005 and renovated in 2012
• 0.68+/- acre site
• Recently extended 20‑year NNN lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,938

Cap Rate

3.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$818,760 $818.8K

Cap Rate 7%

$584,829 $584.8K

Cap Rate 9%

$454,867 $454.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,415 SF

Gross rent

$58.2K $17.04/SF

− Vacancy

−$3.6K −$1.06/SF

EGI

$54.6K $15.98/SF

− OpEx

−$13.6K −$4.00/SF

NOI

$40.9K $11.99/SF

Area

Peoria County, IL

Vacancy

6.20%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$818,760

Cap Rate 7%

$584,829

Cap Rate 9%

$454,867

Alternative Uses

Best Use

Specialty Retail

$584.8K

$511.7K – $682.3K (±1% cap)

NOI $40,938 @ 7.0% cap · market cap 3.77%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$2.99M

$2.61M – $3.49M (±1% cap)

NOI $209,119 @ 7.0% cap · market cap 19.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Auto Repair Shop Restaurant Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

232

Businesses Nearby

Explore this area Business Placement

Demographics for 61523, IL

10,951

Population

4,773

Households

2.3

Avg Household Size

44

Median Age

27%

College-Educated

96%

High-School Grad

53.3 sq mi

ZIP Area

205

Density / Sq Mi

$74,100

Median Household Income

$45,229

Median Earnings

$907

Median Rent

$151,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

NNN property - Single-tenant NNN restaurant with a recently extended 20-year lease and four renewal options with periodic rent increases.

Where is this nnn property located?

The property is located at 108 N 4th St Chillicothe, IL.

What is the asking price?

The asking price for this property is $1,086,000.

What are key features of this property?

This property features: 3,415+/- SF building built in 2005 and renovated in 2012; 0.68+/- acre site; Recently extended 20‑year NNN lease