Chicago, IL - Pizza Hut

Description:

SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Pizza Hut investment property located in Chicago, Illinois. The tenant, PH S Stoney Island LLC, will sign a brand new 15 year lease with 3 (5-year) options to extend at close of escrow, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, 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.

The asset is located near the signalized, hard corner intersection of South Stony Island Avenue and East 87th Street with a combined 84,400 vehicles passing daily. South Stony Island Avenue is the major retail thoroughfare serving southern Chicago, Illinois, featuring national/credit tenants including Wendy’s, Popeyes, CVS Pharmacy, Walgreens, and the grocery-anchored Stony Island Plaza, all located within 1-mile of the subject property. The asset is conveniently located in a frequently traveled, dense residential corridor just south of downtown Chicago, providing a direct consumer base. The asset is 11-miles from downtown Chicago, the third largest city in the U.S., boasting a population of over 2.7 million residents. Pizza Hut has excellent visibility and significant street frontage. The 5-mile trade area is supported by a population of over 459,600 residents and 116,700 employees and those within 1-mile of the property boast an average household income of $79,231.