51 Mchenry Rd Buffalo Grove, IL 60089
Property Features for 51 Mchenry Rd
General Information
- Lot size
- 0.86 Acres
Source:
Cppcre
Listing Agent: Benjamin Udell
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Lazy Dog Ground Lease Opportunity
This property features a 20-year absolute net ground lease with Lazy Dog, including 10% rental increases every 5 years and four, 5-year extension options. It is a hard corner outparcel to a shopping center of approximately 300,000 square feet, anchored by a Jewel-Osco. The Jewel-Osco ranks in the top 7% of grocery stores nationwide based on annual visits. The lease is a sale-leaseback opportunity with 10% rental increases every 5 years. The corporate guaranty is provided by the tenant’s parent company, Lazy Dog Restaurants, LLC. The property is a pad site to The Grove, a Jewel-Osco-anchored shopping center. It benefits from a signalized hard corner location at a heavily trafficked intersection with over 51,000 vehicles per day. The lease structure includes zero landlord maintenance or expense obligations. The location benefits from affluent residential demographics, with average household incomes of $148,000 within a 5-mile radius.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Conventional restaurants
Location Insight
- Map
- Local Demand
- City
- Buffalo Grove
- County
- Lake
- State
- Illinois
- Longitude
- -87.9589688
- Latitude
- 42.1545053
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - 20-year absolute net ground lease with rental increases.
Where is this conventional restaurant located?
The property is located at 51 Mchenry Rd Buffalo Grove, IL.
What are key features of this property?
This property features: - 20-year absolute net ground lease with zero landlord obligations.; - Located on a signalized hard corner at a heavily trafficked intersection (51,000+ VPD).; - Corporate guaranty from Lazy Dog Restaurants, LLC.