Ground Lease Wendy’s Property Sale Arranged Date March 23, 2020
The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant ground lease Wendy’s property located at 3310 South Cicero Avenue in Cicero, Illinois for $2,215,000.
The subject ground lease Wendy’s property is located in just North of Interstate 55 in a dense urban community fronting a Walmart Superstore along Cicero Avenue and is located at a signalized intersection on a 42,249 SF lot. The subject property is a 2,454 SF freestanding Wendy’s Restaurant. The subject property is located at a signalized intersection, sharing access with Walmart. Neighboring retailers include BreakThru Beverage Group with over 1,100 employees on-site, Hawthorne Race Track and a proposed Golden Corral. The Town of Cicero has a diverse mix of retail, residential, industrial, and Cicero Avenue is heavily trafficked.
Cicero is served by two major railroad lines, the BNSF Railway and the Belt Line Railroad. Public transportation is provided by Metra BNSF Railway Line between Aurora and Chicago’s Union Station with a stop near Cicero Avenue and 26th Street. This station has recently been renovated and expanded by Metra. Also, the CTA Pink Line provides daily service from the 54th/Cermak Terminal to the Loop. It’s Cicero station is located in Cicero. Cicero also has many Pace routes. independently-owned business have.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller and buyer in the transaction. The seller is Midwest based real estate developer and the purchaser was a local investor in a 1031 exchange.
“Single tenant restaurant properties continue to garner significant interest amongst private investors” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “E-commerce resistant retailers continue to be in high demand amongst investors.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2019, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.comBack