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51 Mchenry Rd Buffalo Grove, IL 60089

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For Sale
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20-year absolute net ground lease with rental increases.

Lot size:
0.86 Acres

Property Features for 51 Mchenry Rd

General Information

Lot size
0.86 Acres

Source: Benjamin Udell 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.
Insight Report Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Buffalo Grove
County
Lake
State
Illinois
Longitude
-87.9589688
Latitude
42.1545053

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.
More about this property
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