Round Lake Beach, IL - Buffalo Wild Wings

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN high-performing, corporate signed Buffalo Wild Wings investment property located in Round Lake Beach, Illinois (Chicago, MSA). The lease was recently assumed by the corporate entity, Blazin Wings Inc., and the Tenant recently exercised its 5-year option at a $23,700 increase (15% increase) to a below-market rent of $181,700 ($18.17 PSF), dedicating their commitment to the site. The tenant has 1 (5-year) option remaining in 2029 with a 15% rental increase to $20.90 PSF, providing the future Landlord the opportunity to mark rent to market rent of over $30 PSF by 2034. This location reported strong sales of $3.58 million ($358 PSF) in 2023, which is above the chain’s national average of $3.19 million, and represents a low rent-to-sales ratio of 5.1%, and 5% YoY sales growth over the past two years.

Buffalo Wild Wings is strategically located along W. Rollins Road, a primary retail and commuter thoroughfare, averaging 27,300 vehicles passing daily. The subject property is an outparcel to Rollins Crossings, a heavily trafficked community shopping center, attracting over 1.6 million visitors annually (per Placer.ai). Rollins Crossings includes tenants such as LA Fitness, Petco, Harbor Freight, and more. The LA Fitness, which was converted from its previous Esporta Fitness flag in 2023, ranks #2 out of 24 in Illinois. Additionally, the property is next to the #10 most visited grocery store in the state of Illinois, Meijer. This Meijer draws over 1.9 million visitors annually and ranks in the 98th percentile for grocery visits nationally (per Placer.ai). Other nearby national/credit tenants include The Home Depot, Kohl’s, Ross Dress for Less, Hobby Lobby, and ALDI. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The subject property benefits from excellent visibility and access, with significant street frontage along W. Rollins Road, and multiple points of ingress/egress via surrounding retail. Furthermore, Buffalo Wild Wings is strategically positioned less than a quarter mile away from the on/off ramps to State Highway 83 (25,100 VPD). The 5-mile trade area is supported by over 147,000 residents and 35,000 daytime employees, with an affluent average household income of $125,383.