2280 Higgins Rd Hoffman Estates, IL 60169
- Retail properties
- 2,349 SF
- 0.66 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2280 Higgins Rd
- Year built
- 2024
- Lot size
- 0.66 lot acres
- Property size
- 2,349 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
Exceptional investment opportunity: a brand-new, 2,349 square foot Popeyes restaurant in Hoffman Estates, Illinois, boasting a 5.65% cap rate and a strong 20-year net lease with corporate guarantee. The property, built in 2024 and situated on a 0.66-acre lot at 2280 W Higgins Rd (a high-traffic area with over 22,000 vehicles per day), benefits from a prime location near I-90 and Ascension Saint Alexius Medical Campus. This location serves a dense population (over 210,100 residents within 5 miles) with high average household incomes exceeding $125,830. The lease includes four 5-year renewal options and features a 10% rent increase every five years. The property's strong tenant (Popeyes, the world's second-largest quick-service chicken brand) and favorable lease terms make this a compelling investment opportunity within the Chicago MSA (9.4M+ population). The substantial NOI of $173,222 further underscores the property's financial strength and potential for long-term growth. This is a rare chance to acquire a high-performing, low-risk asset in a thriving market. The asking price is $3,066,000, translating to a price per square foot of $1,305.24. The lease commenced March 16, 2024, and expires September 30, 2044, leaving a remaining lease term of nearly 20 years.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hoffman Estates
- County
- Cook
- State
- Illinois
- Longitude
- -88.1371
- Latitude
- 42.057
