8329 Skokie Blvd Skokie, IL 60077-2546

Property Details for 8329 Skokie Blvd

Year built

2000

Lot size

0.09 lot acres

Property type

Commercial real estate

APN

10-22-306-001

APU

1022306001

Description

This exceptional investment opportunity presents a fee-simple ownership of a Taco Bell restaurant located at 8329 Skokie Blvd, Skokie, IL 60077. The 2,500 square foot property, built in 2000, sits on a 0.39-acre lot and boasts a strong financial performance. Currently operating under an Absolute NNN lease with approximately 4.1 years remaining on the base term, plus three 5-year options, this lease provides significant long-term stability. The tenant, a franchisee of Ampler Restaurant Group (a large, experienced operator of over 475 units), has demonstrated a commitment to the location by recently exercising their first option. The lease includes 10% rent increases every five years, offering protection against inflation. The property's NOI is $140,321, resulting in a 6.00% cap rate at the asking price of $2,338,700 ($93.55/sq ft). This high-performing location benefits from a hard corner location with traffic counts exceeding 32,000 vehicles per day, high visibility, and a large consumer spending base within a 5-mile radius exceeding $2 billion annually. The affluent demographics, with an average household income over $110,000 and over 588,000 residents within a 5-mile radius, further enhance the investment's appeal. The property is situated in a high-profile retail corridor near other national brands, benefiting from the strong economic activity of the Chicago MSA, the 3rd largest in the country. The lease is guaranteed by AG Bells II, LLC, providing additional security. This is a passive investment opportunity with significant upside potential.

Location Insight

City

Skokie

County

Cook

State

Illinois

Longitude

-87.747

Latitude

42.0325

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments