Chili's Bar & Grill
Homer Glen, IL 60491-8463
Chili's Logo Image
14025 S Bell Rd
Homer Glen, IL 60491-8463
  • Asking Price: $3,764,000
  • Cap Rate: 6.30%
  • Lease Type: NNN
  • Status: Available
PROPERTY DETAILS:

ABSOLUTE NNN LEASE - Zero landlord responsibilities. Tenant directly maintains for all common areas, taxes, insurance, and utilities, including all repairs and replacements to the roof and structure of the building. FAVORABLE ANNUAL INCREASES - The lease features 1.5% annual rental increases throughout the primary term and each of the four 5-year option periods. MAJOR TENANT CREDIT - The tenant is ERJ Dining, a subsidiary of Bridgeman Foods, which is ranked #6 on Franchise Times magazine’s “Restaurant 200” list for largest restaurant franchisees in the U.S. with over 380 locations and $856 million in annual sales in 2017. REIMAGE 2020 - The company has begun its new initiative to reimage its restaurants, the plan is called “Reimage 2020”. Starting in Q1 of fiscal 2019, Chili’s expects to invest in a brand-wide reimage initiative that will “impact every restaurant over the next three years”, investing up to $250,000 per site. STRONG REGIONAL MARKET - The property is centrally located within this established yet growing south-western suburb of Chicago. Starbucks and Chipotle recently opened just to the south and other national retailers in the immediate area include: The Home Depot, Meijer Supermarket, Menards, Jewel- Osco, Advance Auto Parts, BMO Harris Bank, U.S. Bank, Bank of America, McDonald’s, Wendy’s, Jimmy John’s, Dunkin’ Donuts, among others. MINIMAL COMPETITION & AFFLUENT DEMOGRAPHICS - This is the only national casual dining restaurant within a 5-mile radius. This 5-mile trade area caters to 94,641 residents earning $121,000 average annual income.