Machesney Park, IL - Church's Chicken

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple (land & building ownership) interest in an absolute NNN leased, drive-thru equipped, Church’s Chicken investment property located in Machesney Park, Illinois. The tenant recently signed a 15-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features a 10% rental increase 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 site is strategically located along West Lane Road, a major retail and commuter thoroughfare, averaging 22,100 vehicles passing by daily. The building is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The property benefits from being near the major signalized intersection of State Highway 251 and West Lane Road (43,700 VPD). The investment is an outparcel to the Gateway District, a 390,000 SF shopping center that serves over 3.2 million visitors per year (per Placer.ai). The shopping center includes tenants Target, The Home Depot, Hobby Lobby, Office Depot, and more. The subject property is located within a dense retail corridor with national/credit tenants including Lowe’s. TJ Maxx, Kohl’s, Meijer, ALDI, Chick-Fil-A, Panda Express, and McDonald’s. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The 5-mile trade area is supported by more than 81,400 residents and 38,200 employees with an affluent average household income of $105,095.