Blaze Pizza & Pearle Vision
Orland Park, IL 60462
24 Orland Square
Orland Park, IL 60462
  • Asking Price: $2,475,000
  • Cap Rate: 6.33%
  • Lease Type: NN
  • Status: Under Contract
PROPERTY DETAILS:

New 10 Year Lease – Blaze Pizza is the “Fastest Growing Pizza Concept” in the US with more than 150 locations and projected 2016 revenue of $187M • Major Regional Mall Outlot – Orland Square Mall (1.23M SF) is anchored by: Macy’s, JCPenney, Carson Pirie Scott, and Sears • Strong Historical Occupancy – Pearle Vision has occupied the site for over 25 years • Heavy Daytime Traffic Exposure – Frontage along LaGrange Rd. (44,200 VPD), which is finishing a $95M lane widening project • Established Retail Market – Orland Park has over 5M SF of retail space and ranks 5th in the suburban Chicagoland area in retail sales volume at $1.67B and growing • Dense Chicago MSA Location – More than 70,000 residents with an avg. household income over $94,000 and a daytime population of 54,000 within 3 miles • Limited Landlord Responsibilities – The NNN nature of the leases provides ownership with minimal maintenance obligations