For Sale
$3,450,000

11 Harlem Ave Oak Park, IL 60302

High-Traffic Wendy's Ground Lease

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a 3,500 square foot Wendy's restaurant on a 0.88-acre lot in Oak Park, Illinois. Located at the highly visible corner of Harlem Avenue and Madison Street, this property boasts a strong location with 34,800 vehicles per day on Harlem Avenue and 13,500 vehicles per day on Madison Street. The property benefits from a net lease with a corporate guarantee from Wendy's, minimizing landlord responsibilities. The lease, in place since 1985, has a remaining term of 6.1 years, expiring December 31, 2030, with two five-year renewal options extending to 2040. The building, constructed in 1985, sits within the MS zoning district, offering significant redevelopment potential. The property includes 46 parking spaces and enjoys 100% occupancy. The asking price is $3,450,000, translating to $985.71 per square foot. This is a rare opportunity to acquire a stable, long-term investment with a nationally recognized tenant and significant upside potential. The ground lease structure eliminates landlord responsibilities, making this an attractive, low-maintenance investment. The property's prime location and high traffic counts ensure continued strong performance.

Highlights

  • $3,450,000 asking price for a Wendy's ground lease.
  • Single-tenant, net lease with no landlord responsibilities.
  • Corporate guarantee from Wendy's, lease extends to 2030 with options to 2040.
  • Strong redevelopment potential.
  • High traffic counts: 34,800 VPD on Harlem Ave, 13,500 VPD on Madison St.
  • MS zoning in Oak Park, IL.

Property Details for 11 Harlem Ave

Property type
Retail properties
Square Feet
3,500 SF
Year Built
1985
Lot Size (sq. ft)
38,333 SF

Location Insight

City
Oak Park
County
Cook
State
Illinois
Latitude
41.8800056
Longitude
-87.8043423

FAQs

What type of property is this?
Retail property - High-Traffic Wendy's Ground Lease
Where is the retail property located?
The property is located at 11 Harlem Ave Oak Park, IL.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: $3,450,000 asking price for a Wendy's ground lease.; Single-tenant, net lease with no landlord responsibilities.; Corporate guarantee from Wendy's, lease extends to 2030 with options to 2040.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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11 Harlem Ave
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