Lincoln, IL - Former Restaurant

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, single-tenant, 7,427 SF former restaurant located in Lincoln, IL. The property sits on 0.81 acres and is zoned C-2 – Commercial District, providing for a wide range of uses including retail, gas stations, business & professional offices, automotive services, residential, and more. The site presents an excellent lease-up or redevelopment opportunity in a highly desirable and historic location with direct access to shopping centers, medical facilities, residential communities, and the state’s capital – Springfield, IL.

The subject property is strategically located near the signalized, hard corner intersection of Lincoln Parkway / Old Route 66 and Woodlawn Road, averaging a combined 107,000 vehicles passing by daily. The subject site benefits from direct access onto Interstate 55 (27,100 VPD), a major north-south route that provides direct access into Springfield, IL. The asset is ideally situated as an outparcel to Heritage Plaza, a 101K+ SF neighborhood center, and is within walking distance to Lincoln Town Center, a 160K+ SF neighborhood center. The surrounding national/credit tenants include Kroger, ALDI, AutoZone, CVS Pharmacy, Dollar Tree, Walmart Supercenter, and many others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, the site is half a mile north of Abraham Lincoln Memorial Hospital (55 beds), a state-of-the-art medical facility dedicated to providing world-class care. Furthermore, the building is across from several single-family communities and multi-family complexes including Plowfield Square (42 units), Logan Court (62 units), Brainard Landings (102 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by more than 17,900 residents and 8,600 daytime employees with an average annual household income of $75,520.