Business for Sale in Orland Park, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Orland Park, IL 60462

Description

The subject property is a freestanding Arby’s restaurant situated at the entrance of Orland Park Shopping Center, which is anchored by a 122,900-square-foot Meijer grocery store. Other pad sites within this center are occupied by national tenants such as Chili’s, Panda Express, White Castle, and AutoZone. A Home Depot is located directly across the street, with a Hobby Lobby and Menards positioned within the same intersection of South Harlem Avenue and 159th Street. Orland Park is a village located in Cook County, Illinois, described as a thriving suburb just 25 miles southwest of downtown Chicago. With a city population exceeding 60,000, Orland Park reflects signs of affluence and sophistication. The population within a three-mile radius is reported at 92,252, with an average household income of $93,736 within the same radius. Harlem Avenue experiences a daily traffic count of 43,000 vehicles directly in front of the subject property, which has ingress and egress from 158th Street and can also be accessed from 157th Street and 159th Street. This Arby’s has a monumental sign equipped with a drive-through lane and 31 on-site parking spaces. The tenant is an experienced Arby’s franchisee who currently operates five Arby’s locations throughout downtown Chicago and the southwestern Chicago suburbs. Just under nine years remain on the absolute triple-net lease, which includes 10 percent fixed rent increases every five years. The tenant also holds five five-year options under the same terms and conditions. This is a unique opportunity to acquire a low-priced, single-tenant quick-service restaurant located in a large community. The replaceable annual rent is $82,500 on a triple-net basis. Investment Highlights: • Over 9.5 years remaining on absolute NNN lease. • 10% fixed rent increases every 5 years. • Pad site to a large Meijer grocery anchored shopping center. • The property is situated in a high-traffic area. • Operated by a multi-unit franchisee.

Market Context

This food service in Orland Park, IL is listed for sale. It is offered at an approximate 5.9% capitalization rate, a key benchmark for income-producing food service assets. It has been on the market for 68 days. Compare it against other food service listings for sale in Orland Park, IL — <a href="/search/sale/other/illinois/orland-park">view the full market</a>.

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