1230 Chicago AveSavanna, IL 61074

Property Details for 1230 Chicago Ave

Year built

1997

Lot size

1.56 AC

Property size (Sq ft)

6,529 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional retail investment opportunity presents a 6,529 square foot property in Savanna, IL, featuring a McDonald's and BP gas station under a master lease with J.B. Sullivan, Inc., a subsidiary of Coborn's Inc. (a $1.2 billion revenue company). The property boasts a 1.56-acre lot with a drive-thru and eight fuel pumps. The absolute NNN lease has a remaining term of 13.5 years, with four 5-year options. The current annual net operating income (NOI) is $85,290, representing a 6.25% cap rate. The asking price is $1,365,000. The McDonald's sublease is significantly below market value at just over $34,000 annually. Built in 1997, this property benefits from its location as one of only two gas stations in Savanna, with McDonald's having operated there since August 1999. Rent bumps are flat. This is a strong, long-term investment with a well-established tenant base in a desirable location. The property's strategic positioning and the strength of its tenants make this a compelling opportunity for investors seeking stable, high-yield returns.

Location Insight

City

Savanna

County

Carroll

State

Illinois

Latitude

42.0899

Longitude

-90.1338

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