322 Il Rte 173 Antioch, IL 60002-1835

Property Details for 322 Il Rte 173

Year built

1990

Construction

BRICK

Lot size

0.99 lot acres

Property size

2,201 SF

Property type

Turn key restaurants

APN

02-17-101-063

APU

217101063

Description

This exceptional investment opportunity presents a fee-simple ownership of a Taco Bell restaurant located at 322 W Il Rte 173, Antioch, IL 60002. The property, built in 1990, encompasses 2,201 square feet on a 0.99-acre lot and boasts a strong 100% occupancy rate. The current absolute NNN lease, with a franchisee tenant, commenced May 1, 2019, and expires December 26, 2035, leaving approximately 11.1 years remaining on the initial term. Four, five-year lease options are included, providing significant long-term stability. The lease features 10% rent bumps every five years, offering protection against inflation. The property generates a substantial NOI of $166,181, resulting in a compelling 5.60% cap rate and a price per square foot of $1,348.26. The asking price is $2,967,518. The location benefits from high visibility on Route 173, a major thoroughfare with combined traffic counts exceeding 24,000 vehicles per day. It's situated near Antioch's downtown historical district and within a thriving retail corridor, surrounded by national brands. The surrounding area demonstrates strong demographics, with an average household income exceeding $107,000 within a five-mile radius and a population of over 54,000 residents. This property is part of the third-largest metropolitan statistical area in the country, the Chicago MSA, with over 9.4 million residents. The lease is guaranteed by AG Bells II, LLC, a large regional operator with a 55-unit guarantee. This is a passive investment opportunity with a proven track record of high sales, significantly above the average unit volume for Taco Bell.

Location Insight

City

Antioch

County

Lake

State

Illinois

Longitude

-88.0944

Latitude

42.4704

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments