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Burger King Ground Lease, Oswego, IL

Burger King Ground Lease

Price $1,862,000
Cap Rate
NOI
Lease Term 20 Years, with 9 Years Remaining
Lease Type Absolute NNN Ground Lease, with Tenant Responsible for Taxes, Insurance, and All Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2008
Building Size 2,694 SF
Lot Size 0.82 acres (35,517 SF)
Status Sold
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM NNN LEASE WITH STRONG CORPORATE GUARANTY
» Absolute NNN ground lease with nine years remaining, plus two ten-year options
» 10% rental increases every five years, including in option terms, providing a hedge against inflation
» Corporate lease with strong operating history since 2008 and Tenant recently remodeled demonstrating their commitment to the location

HIGH-TRAFFIC LOCATION IN PRIME RETAIL CORRIDOR
» Located just off of the signalized intersection of U.S. Route 34 and Fifth Street, with excellent visibility and access to 36,000 vehicles per day
» Outparcel to Prairie Market, a large regional power center anchored by Walmart Supercenter, Hobby Lobby, and Kohl’s and featuring big name brands like Best Buy, Ulta, Dick’s Sporting Goods, Burlington, and Pier 1 Imports
» Located in thriving retail corridor near Target, Meijer, Home Depot, and many others

CENTRAL LOCATION NEAR IMPORTANT COMMUNITY AMENITIES
» Near several large schools, including Oswego East High School (2,464 students) and Oswego High School (2,678 students)
» Minutes from the 210-bed Rush Copley Medical Center, which has 2,000 employees
» Directly in front of the Springs at Oswego, a development with 320 luxury apartments currently under construction behind Prairie Market
» Close to Fox Bend Golf Course, rated as one of the top twenty public courses in the Chicago land area

LARGE, AFFLUENT CUSTOMER BASE
» 227,645 residents with an average household income of $98,992 live within a five mile radius
» The average household income within one mile of the property is $111,939
» Located in one of the fastest growing areas in Chicago MSA



Property Description

SOLD
The property is conveniently located just off of the signalized intersection of U.S. Route 34 and Fifth Street, with excellent visibility and access to 36,000 vehicles per day. The property is outparcel to Prairie Market, a large regional power center anchored by Walmart Supercenter, Hobby Lobby, and Kohl’s and featuring big name brands like Best Buy, Ulta, Dick’s Sporting Goods, Burlington, and Pier 1 Imports. Located in a thriving retail corridor, the property is also near other large shopping centers and notable tenants. Both Gerry Centennial Plaza—anchored by Meijer and tenanted by Ross, Michaels, and Old Navy—and Oswego Commons—featuring Target, Petco, and Party City, amongst others—are within walking distance of the property. Other retailers in the nearby area include Chick-fil-A, Home Depot, PetSmart, Menards, Sam’s Club, and LA Fitness.

The property benefits from its central location near large schools, major employers, and new development projects. Several schools are located nearby, including Oswego East High School (2,464 students) and Oswego High School (2,678 students). The property is close to several industrial employment centers and is just minutes from the 210-bed Rush Copley Medical Center, which has 2,000 employees. The property is also directly in front of the Springs at Oswego, a development with 320 luxury apartments currently under construction behind Prairie Market. Additionally, the property is located in a very densely populated and affluent area; 227,645 residents with an average household income of $98,992 live within a five-mile radius, and the average household income within one mile of the property is $111,939.

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