11301 Corliss Ave Chicago, IL 60628

Property Details for 11301 Corliss Ave

Year built

1989

Lot size

1.84 lot acres

Property type

Commercial real estate

APN

25-23-104-006

APU

2523104006

Description

This exceptional investment opportunity presents a newly constructed, 4,852 square-foot Chick-fil-A restaurant situated on a 1.9-acre lot in Chicago, Illinois, at 11301 S Corliss Ave, 60628. The property benefits from a 15.2-year absolute NNN ground lease commencing February 1, 2025, and expiring January 31, 2040, with eight 5-year renewal options and 10% rent bumps every five years. The lease provides a strong, predictable cash flow with no landlord responsibilities. The property boasts a 4.25% cap rate and a current NOI of $150,000. This location is strategically positioned at the southeast corner of the revitalized Pullman Park, a 180-acre mixed-use development, and enjoys excellent visibility and accessibility with proximity to Interstate 94 (155,000+ vehicles daily) and East 111th Street (15,300 VPD). The area features a robust population of over 393,000 within a five-mile radius, with an average household income exceeding $75,972. This Chick-fil-A is the only one within a 12-mile radius, capitalizing on a significant market demand. The surrounding area includes major retailers such as Walmart, Ross, Planet Fitness, and other popular restaurants. The property's location near Pullman National Historical Park and Harborside International Golf Course further enhances its appeal. This is a rare opportunity to acquire a high-performing, iconic brand in a prime location with significant long-term growth potential. The asking price is $3,529,412.