2355 Addison St Chicago, IL 60618

This fee-simple ownership opportunity presents a 2,627 square foot Popeyes restaurant in Chicago, IL (60618), located at 2355 W Addison St. The property boasts a strong 6.00% cap rate and a substantial net operating income (NOI) of $119,603. The absolute NNN lease, with a franchisee tenant, provides zero landlord responsibilities and features a remaining term of approximately 3.4 years, followed by two 5-year options. Annual rent increases of 1% are built into the lease, providing inflation protection and consistent NOI growth. Built in 1974, this single-tenant property sits on a 0.31-acre lot with 16 parking spaces and is zoned B3-2: Community Shopping District. The property benefits from a high-traffic location at a signalized intersection, with approximately 61,600 vehicles passing daily. Its proximity to Wrigley Field, major shopping centers (Roscoe Square, Addison Mall, Elston Plaza), and other prominent retailers (Jewel-Osco, Mariano's, Target, McDonald's) ensures strong visibility and a robust customer base. The surrounding area boasts affluent demographics, with average household incomes exceeding $137,977 within a 5-mile radius and over 52,300 residents within a 1-mile radius. The property's drive-thru capability further enhances its operational efficiency and revenue potential. This investment offers a compelling combination of strong tenant performance, favorable lease terms, and a prime location within a thriving Chicago neighborhood.