201 S Larkin Ave Joliet, IL 60436
New 15-year NNN Chick-fil-A in Joliet, Illinois.
Type:Retail
Property size:
5,042 SF- Added:
- Sep 17, 2024
- Days on Market:
- 580
- Last Refresh:
- Mar 17 at 1:26 pm
Property Features for 201 S Larkin Ave
General Information
- Standard status
- Active
- Size
- 5,042 SF
- Property subtype
- Retail
Listing agent Michael Carter License #MI 6501369793
Listing office SRS Real Estate Partners Newport Beach
Listing date Sep 17, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Newport Beach
Overview
New Chick-fil-A Investment Property
This is an opportunity to purchase the leased fee interest (land ownership) in a newly built Chick-fil-A investment property located in Joliet, IL. The property features a drive-thru. The tenant, Chick-fil-A, Inc., recently signed a new 15-year lease with 12 (5-year) option periods left to extend. The lease features 7.50% rental increases every 5 years throughout the initial term and option periods. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities. Founded in 1967, Chick-fil-A has over 3,000 operating locations. The property is located along Larkin Avenue with visibility and access to 29,500 vehicles per day. It benefits from direct access onto Interstate 80 (86,000 VPD). The property is situated as an outparcel to a Sam’s Club anchored center. Additional surrounding tenants include Walmart Supercenter, Menards, Jewel-Osco, McDonald’s, and BMO Harris. The property is near single-family communities and multi-family complexes including JFK Terrace (173 units), Adlai Stevenson Gardens (177 units), and Stone Falls (213 units). The 5-mile trade area is supported by over 154,400 residents and 71,000 daytime employees, with an average household income of $90,398. The property size is 5,042 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Steak 'n Shake
Restaurant
Location Insight
- Map
- Local Demand
- City
- Joliet
- County
- Will
- State
- Illinois
- Longitude
- -88.125055
- Latitude
- 41.5187693
Nearby Similar for Sale
FAQs
What type of property is this?
Drive through restaurant - New 15-year NNN Chick-fil-A in Joliet, Illinois.
Where is this drive through restaurant located?
The property is located at 201 S Larkin Ave Joliet, IL.
What is the asking price?
The asking price for this property is $2,952,000.
What are key features of this property?
This property features: Absolute NNN lease with zero landlord responsibilities, providing a management‑free, passive investment.; Brand new 15‑year lease with Chick‑fil‑A, Inc. (corporate guarantee) and twelve 5‑year option periods, indicating long‑term commitment.; Features 7.50% rental increases every 5 years throughout the initial term and option periods, hedging against inflation.
