Single-Tenant NNN
For Sale
Contact for pricing
6705 S Halsted St, Chicago, IL 60621
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$526.81
Days on Market208
Property Features for 6705 S Halsted St
General Information
Standard status
Active
Size
1,900 SF
Lot size
0.35 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$74,070
Site & Location
Neighborhood
Englewood
Building Details
Year Built
1966
Tenancy
Single
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License #NY 49KU1129178
(603) 570-2699
Source:
Crexi
Added: Apr 1
Changed: Oct 25
Last Checked: Oct 24 at 5:13PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$35,363
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,260
$707.3K
Cap Rate 7%
$505,186
$505.2K
Cap Rate 9%
$392,922
$392.9K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$50.2K $26.40/SF
− Vacancy
−$3.0K −$1.58/SF
EGI
$47.2K $24.82/SF
− OpEx
−$11.8K −$6.20/SF
NOI
$35.4K $18.61/SF
Area
Chicago, IL
Vacancy
6.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$707,260
Cap Rate 7%
$505,186
Cap Rate 9%
$392,922
Alternative Uses
Best Use
Specialty Retail
$505.2K
$442.0K – $589.4K
NOI $35,363 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$895.8K
$783.9K – $1.05M
NOI $62,709 @ 7.0% cap · market cap 6.26%
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
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
19k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 22%
Electronics 4%
White Castle
Dining
8,638 visits/mo
0.1 miles
Checkers
Dining
5,565 visits/mo
0.1 miles
Family Dollar
Shops & Services
4,225 visits/mo
0.1 miles
Boost Mobile
Electronics
715 visits/mo
0.3 miles
Demographics for 60621, IL
29,570
Population
15,348
Households
1.9
Avg Household Size
36
Median Age
12%
College-Educated
78%
High-School Grad
3.8 sq mi
ZIP Area
7,782
Density / Sq Mi
$33,235
Median Household Income
$29,961
Median Earnings
$1,017
Median Rent
$161,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Chicago, IL
Frequently Asked Questions
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 $1,000,945.
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
