Essential Services Center: OSF Healthcare/IHOP/Potbelly

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Essential Services Center: OSF Healthcare/IHOP/Potbelly

7601 S Cicero Ave Chicago IL Cook County

Sales Price: $5,552,700

Cap Rate: 7.00%

Contact Person(s): Daniel Kukes
Max Lippitt
Kevin Baker
Jason Greenspan

Description:

ESSENTIAL STABLE TENANCY WITH STRONG HISTORICAL SALES
• New lease just signed with OSF Healthcare (135 locations, 21,500 employees) – this location will be acting as an Urgent Care. Rent is expected to commence on March 1st
• Potbelly (474 locations) and IHOP (3,652 locations) remain dominant, internet resistant concepts.
• Both Potbelly and IHOP (18-unit franchisee) enjoy higher than average historical sales (contact broker for additional information).
• Each tenant enjoys higher than average historical sales (contact broker for additional information).

DENSE INFILL LOCATION
• The subject property sits in the middle of a strong retail corridor as an outparcel to the Ford City Mall (666,295 SF).
• Other surrounding retailers include; Costco, Best Buy, Marshalls, HomeGoods, Harbor Freight, Kohl’s, and a to be built Chick-fil-A restaurant just south of the subject property.
• The estimated population within a five-mile radius of this property is 619,168 people.

EXCELLENT VISIBILITY & CO-TENANCY
• The subject property maintains strong visibility from the road as it faces Cicero Ave (45,992 CPD).
• Other fast casual restaurants that sit adjacent to the subject property are Chipotle and Chickfil-A, two leaders in their respective markets.

CHICAGO MIDWAY AIRPORT
• The subject property is situated approximately 2 miles from Chicago Midway International Airport.
• Over 22 million passengers traveled through the international airport in 2018 creating an increase in traffic within the trade corridor.

Building Size: 10,992 SF

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 15,430 229,071 619,168
Avg. HH Income: $79,194 $73,353 $69,653

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.