Net Lease Bakers Square Property For Sale Date May 18, 2017
The Boulder Group is pleased to exclusively market for sale a single tenant net lease Bakers Square located in Niles, Illinois, just north of the city limits of Chicago. The property is strategically located along Dempster Street positioned within a dominant retail corridor. The Bakers Square has easy access and excellent visibility to the 60,600 vehicles per day that travel along the signalized intersection of Dempster Street and Greenwood Avenue. The Bakers Square is a corporately guaranteed triple net lease featuring 3% annual rental escalations and three 5-year renewal option periods. This is a proven location for Bakers Square as evident by their long operating history and exercise of the first 5-year option in 2015.
The 2,564 square foot net lease Bakers Square property is located within an affluent area just north of Chicago, Illinois. Average household incomes within a three mile radius are in excess of $95,000 annually. Additionally, there are approximately 356,500 people living within five miles earning average household incomes in excess of $98,000 per year. The property is located along Dempster Street immediately off of a signalized intersection with Greenwood Avenue. The property has exceptional visibility and easy access from both thoroughfares. Dempster Street the areas primary east-west thoroughfare experiencing traffic counts in excess of 36,300 vehicles per day. Greenwood Avenue experiences traffic counts in excess of 24,300 vehicles per day. The property is also less than one and one-half mile west of Interstate-294 with direct on and off access to the approximate 187,000 vehicles per day.
The property is located across from Dempster Plaza; a shopping center anchored by The Home Depot and Jewel-Osco. Advocate Lutheran General Hospital, the leading healthcare provider in Chicago’s North and Northwest suburbs and part of the largest health system in Illinois, is located one block east from the Bakers Square location on Dempster Street. Golf Mill Shopping Center, a super-regional mall with over 100 specialty shops, five department stores (JC Penney, Sears, Target, Kohl’s and Ross Dress for Less), an AMC movie theater, two grocery stores (Shop & Save Market and Gordon Food Service Store) and an XSport Fitness gym, is less than one-half mile north of the property
The Bakers Square lease has more than two years remaining in the primary term that expires in January 2020. The Bakers Square is a corporate guaranteed triple net lease featuring 3% annual rental escalations and three 5-year renewal option periods. Bakers Square is a casual dining restaurant chain in the Upper Midwest owned by American Blue Ribbon Holdings, a majority-owned subsidiary of Fidelity National Financial.
- Located within the Chicago MSA just north of the city of Chicago limits
- Absolute triple net with zero landlord responsibilities
- Annual rental escalations in the primary term and each renewal option
- Affluent area with an average household income of approximately $95,000 within a 3 mile radius of the property
- Over 153,500 people live within a 3 mile radius of the property
- Located along a heavily trafficked east-west thoroughfare off intersection that experiences traffic counts in excess of 60,600 vehicles per day
- Well positioned in a retail corridor across from a Home Depot anchored shopping center and near a super-regional mall and the leading healthcare provider in Chicago’s North and Northwest suburbs