201 Larkin Ave Joliet, IL 60436
- Commercial real estate
- 0.99 lot acres
Current Use by Public Records
- Steak 'n Shake / Hamburger Restaurant / American Restaurant
Property Details for 201 Larkin Ave
- Year built
- 1996
- Lot size
- 0.99 lot acres
- Property type
- Commercial real estate
- APN
- 30-07-18-208-005
- APU
- 300718208005
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,695,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,865,000
- 6.5%
- $2,670,000
- 7%
- $2,840,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,905,000
- Geo Method
- $2,475,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,335,000
- Retail
- $3,110,000
- Mixed-Use
- $3,075,000
- Hospitality
- $2,825,000
- Educational
- $2,335,000
- Residential Income
- $3,025,000
- Energy
- $2,910,000
- Income-Based Land
- $3,065,000
- Food Service
- $3,125,000
Location Insight
- Map
- Local Demand
- City
- Joliet
- County
- Will
- State
- Illinois
- Longitude
- -88.1252
- Latitude
- 41.5187
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
