Single-Tenant NNN
6705 S Halsted St Chicago, IL 60621
For Sale
Contact for pricing
Single-tenant NNN ground lease property with a Checkers restaurant and scheduled 10% rent increases every five years.
Property Size1,900 SF
Lot Size0.35 Acres
Price / SF$556.92
Days on Market115
Property Features for 6705 S Halsted St
General Information
- Standard status
- Active
- Size
- 1,900 SF
- Lot size
- 0.35 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1966
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Anthony Bird · License #NY 10401306066
Source:
Crexi
Added: Apr 1
Changed: Jul 23
Last Checked: Jul 24 at 10:48AM
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 SURMOUNT
Investment Insights
Based on property information with market context.
Surmount is pleased to offer an exclusive listing for a Checkers restaurant located at 6705 S Halsted St, Chicago, IL 60621. The site includes approximately 1,900 rentable square feet of building space on an estimated 0.35-acre parcel of land.
The property is subject to a 15-year ground (NNN) lease that commenced 04/7/2014. The current annual rent is $74,070, with scheduled increases of 10.00% every five years.
This is a single-tenant, NNN ground lease investment with a defined lease term and contractual rent escalations.
The property is subject to a 15-year ground (NNN) lease that commenced 04/7/2014. The current annual rent is $74,070, with scheduled increases of 10.00% every five years.
This is a single-tenant, NNN ground lease investment with a defined lease term and contractual rent escalations.
Key Highlights
- Single‑tenant NNN ground lease property leased by Checkers at 6705 S Halsted St, Chicago, IL 60621
- Approximately 1,900 rentable SF restaurant building on an estimated 0.35‑acre parcel
- 15‑year ground lease commenced 04/7/2014
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.2k | $26.40 |
| − Vacancy | −$3.0k | −$1.58 |
| EGI | $47.2k | $24.82 |
| − OpEx | −$11.8k | −$6.20 |
| NOI | $35.4k | $18.61 |
1,900 SF · lease $26.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$505.2K
$442.0K – $589.4K
NOI $35,363 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$895.8K
$783.9K – $1.05M
NOI $62,709 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Checkers
Restaurant
FAQs
What type of property is this?
Conventional restaurant - Single-tenant NNN ground lease property with a Checkers restaurant and scheduled 10% rent increases every five years.
Where is this conventional restaurant located?
The property is located at 6705 S Halsted St Chicago, IL.
What is the asking price?
The asking price for this property is $1,058,142.
What are key features of this property?
This property features: Single‑tenant NNN ground lease property leased by Checkers at 6705 S Halsted St, Chicago, IL 60621; Approximately 1,900 rentable SF restaurant building on an estimated 0.35‑acre parcel; 15‑year ground lease commenced 04/7/2014
