6360 Grand AveGurnee, IL 60031

Property Details for 6360 Grand Ave

Year built

1991

Construction

BRICK

Lot size

0.94 AC

Property size (Sq ft)

2,082 SF

Property type

Turn key restaurants

APN

07-16-103-017

APU

716103017

Description

This exceptional investment opportunity presents a fee-simple ownership of a Taco Bell restaurant located at 6360 Grand Ave, Gurnee, IL 60031. The 2,082 square foot property sits on a 0.94-acre lot and benefits from an absolute NNN lease with a franchisee tenant, minimizing landlord responsibilities. Built in 1991, the property boasts a 6.15% cap rate and a strong NOI of $154,371, with an asking price of $2,510,114 ($1,205.63/sq ft). The lease, commencing May 1, 2019, and expiring May 2, 2026, includes four, five-year renewal options, providing long-term stability. Ten percent rent bumps every five years offer inflation protection. The property enjoys a prime location in a high-traffic area, outparceled to the Gurnee Mills Shopping Mall, attracting over 4.2 million annual visitors. The site benefits from high visibility on Grand Ave (42,000+ VPD) and proximity to I-94 (110,000+ VPD). The surrounding area features affluent demographics, with an average household income exceeding $114,000 within a 5-mile radius and a population exceeding 117,000 residents. This location is part of the Chicago MSA, the third largest in the country. The tenant, a large and experienced quick service restaurant operator, provides a strong financial backing. This is a rare opportunity to acquire a well-performing, passively managed asset in a high-growth market.

Location Insight

City

Gurnee

County

Lake

State

Illinois

Latitude

42.3858

Longitude

-87.9591

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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