108 N 4Th St Chillicothe, IL 61523

Property Details for 108 N 4Th St

Property type

Commercial real estate

APN

05-29-276-033

APU

529276033

Description

This exceptional investment opportunity presents a 3,415 square foot Hardee's/Carl's Jr. restaurant located at 108 N 4th St, Chillicothe, IL 61523, in Peoria County. Built in 2005 and renovated in 2012, the property sits on a 0.68-acre lot and boasts a strong 17.7-year remaining lease term (expiring August 1, 2042) with four 5-year renewal options and 10% rent bumps every five years. The net lease structure provides a secure investment with a corporate guarantee from LBE Holdings. The property generates a substantial NOI of $76,000, resulting in a 6.25% cap rate at an asking price of $1,216,000 ($356.08/sq ft). The location is strategically positioned 15 miles north of downtown Peoria, offering excellent visibility and access to a significant population base. This is a rare opportunity to acquire a well-established, high-performing QSR property with a long-term lease and significant upside potential. The tenant, Hardee's, operates over 1,800 restaurants across the U.S. and internationally, demonstrating brand strength and stability. This property offers a compelling combination of strong cash flow, long-term lease security, and a prime location in a thriving market.

Location Insight

City

Chillicothe

County

Peoria

State

Illinois

Longitude

-89.492

Latitude

40.9079

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments