4801 77Th St Burbank, IL 60459
- Retail properties
- 10,640 SF
- 0.52 lot acres
Current Use by Public Records
- Olive Garden Italian Restaurant / Family Restaurant / Mediterranean Restaurant
Property Details for 4801 77Th St
- Year built
- 1984
- Lot size
- 0.52 lot acres
- Property size
- 10,640 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a 10,640 square foot Olive Garden restaurant located at 4801 W 77th St, Burbank, IL 60459. The property sits on a 0.52-acre lot and boasts a strong, 11.3-year remaining lease term (expiring 01/31/2036) with a highly creditworthy tenant, Darden Restaurants, Inc. The current annual net operating income (NOI) is $111,804, representing a 5.35% cap rate. The lease is a triple-net (NNN) ground lease, offering a zero-landlord responsibility structure. The tenant, Olive Garden, has enjoyed a remarkable 35-year occupancy history at this location and recently renewed their lease for a further 10 years, demonstrating significant commitment to the site. The current rent of $10.51 per square foot is considered below market value, presenting potential for future rental increases. The property benefits from its location in a densely populated area, with over 566,000 residents within a five-mile radius and an average household income exceeding $90,519. The lease includes three, five-year renewal options, providing long-term stability and predictable cash flow. This is a rare opportunity to acquire a well-established, low-risk, net lease investment with a blue-chip tenant in a prime location. The building was constructed in 1984.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Burbank
- County
- Cook
- State
- Illinois
- Longitude
- -87.742
- Latitude
- 41.754
