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    201 Larkin Ave Joliet, IL 60436

    Sponsored
    For Sale
    $2,952,000

    High-ROI Chick-fil-A NNN Lease

    Property size:
    5,042 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a brand-new, 5,042 square foot Chick-fil-A restaurant in Joliet, IL. Located on 0.99 acres at 201 S Larkin Ave, this single-story building boasts a prime location as an outparcel to a Sam's Club anchored center, surrounded by other major retailers including Walmart, Menards, and Jewel-Osco. The property features 76 parking spaces and benefits from excellent visibility and accessibility, with direct access to Interstate 80 (86,000 vehicles per day) and high daily traffic on Larkin Avenue (29,500 vehicles). The 15-year absolute NNN lease, backed by a corporate guarantee, includes 12 five-year renewal options with a 7.5% rent increase at the beginning of each option period, ensuring consistent income growth and inflation protection. The property's strong demographics, including a 5-mile trade area with over 154,400 residents and 71,000 daytime employees, and an average household income of $90,398, contribute to its exceptional investment potential. The current Net Operating Income (NOI) is $132,860, yielding a 4.50% cap rate. The property is zoned B-1: Neighborhood Business District and was built in 2025. This is a truly exceptional, management-free investment opportunity with significant long-term growth potential. The asking price is $2,952,000. The property includes a ground lease and is situated in Will County, IL, zip code 60436.

    Property Features for 201 Larkin Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    5,042 SF
    Lot Size
    43,124 SF

    Building Details

    Year Built
    2025
    Buildings
    1
    Stories
    1

    HighLights

    • $2,952,000 asking price for a Chick‑fil‑A net lease property.
    • Absolute NNN lease with corporate guarantee, 15‑year term remaining with 12 five‑year options.
    • 5,042 square foot building on a 0.99‑acre lot with 76 parking spaces, located at 201 S Larkin Ave, Joliet, IL 60436.
    • 4.50% cap rate with a $132,860 NOI; 7.5% rent bumps at the beginning of each option period.
    • New construction (2025) outparcel to a Sam's Club anchored center, in a strong retail corridor with high traffic counts.
    Property Profile Location Intelligence

    Current Use by Public Records

    Steak 'n Shake Hamburger Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Joliet
    County
    Will
    State
    Illinois
    Longitude
    -88.1250205
    Latitude
    41.5186939

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    FAQs

    What type of property is this?
    Individual retail property - High-ROI Chick-fil-A NNN Lease
    Where is this individual retail property located?
    The property is located at 201 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: $2,952,000 asking price for a Chick-fil-A net lease property.; Absolute NNN lease with corporate guarantee, 15-year term remaining with 12 five-year options.; 5,042 square foot building on a 0.99-acre lot with 76 parking spaces, located at 201 S Larkin Ave, Joliet, IL 60436.
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    Joliet, IL 60436
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    201 Larkin Ave Joliet, IL 60436
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