Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN, newly renovated, freestanding Chili’s investment property located in Homer Glen, Illinois (Chicago MSA). The tenant has approximately 4 years remaining on their initial term with 2 (5-year) options to extend. The lease features annual 1.5% rental increases, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Brinker Restaurant Corporation is a subsidiary of Brinker International Inc., one of the leading casual dining restaurant companies in the world and publicly-traded (NYSE: EAT).

The subject property is strategically located near the signalized, hard-corner intersection of W. 143rd St. and S. Bell Road, averaging a combined 31,200 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large monument sign along S. Bell Road (15,400 VPD). The Chili’s is an outparcel to Goodings Grove, a 636,252 SF Power Center anchored by The Home Depot and Meijer. Other nearby national/credit tenants include Aldi, Walgreens, Circle K, O’Reilly Auto Parts, Dollar Tree, Firestone, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by over 93,000 residents and 38,500 employees, providing a direct consumer base from which to draw. Residents within 3-miles of the subject property boast an affluent average household income of $137,275.

---