Asking Price
NOI Net Operating Income
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Asking Price
NOI Net Operating Income
Cap Rate

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Property Description

JLL is pleased to offer for sale the Ground Lease interest in a new 2020 constructed casual dining restaurant (the “Property” or “Asset”) leased to Texas Roadhouse (the “Tenant”) located in Mount Prospect, Illinois. Texas Roadhouse is a best in class, full-service casual dining restaurant operator that experienced continued growth throughout the COVID-19 pandemic, opening 22 new corporate locations and four new franchised locations last year. The Asset is strategically located directly across the street from Walmart and two miles south of Randhurst Village, a one million square foot, recently redeveloped, open-air mixed-use center featuring national and regional retailers, a 12-screen state-of-the-art cinema and a 140-room Hampton Inn hotel. This property possesses strong real-estate fundamentals and presents the opportunity to acquire a long-term investment leased to an industry leading tenant in an affluent suburb of Chicago.

Investment Highlights

  • NNN ground lease with rare 10% rental escalations every five years and over 13.5 years remaining
  • Mt. Prospect ranks as one of the top Chicago suburbs with over 313,000 residents within a 5-miles radius with AHHI of $108,950
  • Industry leading tenancy backed by a corporate guaranty
  • Located directly across the street from national retailers including WalMart, Menards, Ross Dress for Less, Aldi, AutoZone, Burlington, Five Below and LA Fitness
  • In 2019, corporate operated Texas Roadhouse restaurants experienced average store sales of $5.4 million, almost double that of their closet competitor
Last Updated Date: 05 Apr 2021
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621
Last Updated Date: 05 Apr 2021

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