Chicago Ridge, IL - Raising Cane's

Description:

• The tenant just recently signed a brand new 15-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 7.50% rental increases every 5 years and at the beginning of each option, growing NOI and hedging against inflation
• Raising Cane’s is one of the fastest-growing restaurant brands, with 800+ Restaurants in 40+ states, and plans to open 100 new Restaurants across several new markets in 2024

• The subject property is located at the signalized, hard corner intersection of 95th St and S. Ridgeland Ave which combined average 37,600 VPD
• The site benefits from nearby direct on/off ramp access to Interstate 294, a major thoroughfare that averages 154,400 vehicles passing by daily
• The asset is situated as an outparcel to the Chicago Ridge Mall, a 889,000+ SF regional mall, that is anchored by Aldi, Kohl’s, Dick’s, Burlington and more
• Other nearby national/credit tenants include Home Depot, Walmart, Starbucks, Marshall’s, Ross, Chipotle, and many more