491 Randall RdBatavia, IL 60510

For Sale
$1,664,000

High-yield Chili's NNN ground lease; strong location.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 5,547 square foot Chili's restaurant located on a 1.26-acre lot at 491 N Randall Rd, Batavia, IL 60510. The property is situated in a high-traffic retail corridor with excellent visibility, boasting a 6.00% cap rate and a strong net operating income (NOI) of $99,825. The absolute NNN ground lease with Chili's features approximately 9.1 years remaining, extending to December 31, 2033, with built-in rent bumps of 5% in 2029 and 10% at option renewal. Four five-year lease options are available. The tenant, Chili's, has occupied this location since December 17, 1998, demonstrating a long-term commitment to the site. This prominent outparcel location is part of the Wind Point Shopping Center, experiencing 1.7 million annual visits, and is adjacent to a top 15% nationwide Kohl's location and the new Winding Creek residential development (165+ homes). The property benefits from strong demographics, including a daytime population of 124,405 within a 5-mile radius and an average household income of $162,071 within 3 miles. The site enjoys convenient access to major roadways, including the I-88 arterial and North Randall Road (34,600 AADT), and is near Northwestern Medicine Delnor Hospital and Fermilab. The building was constructed in 1999. This is a truly passive investment with no landlord responsibilities. The asking price is $1,664,000.

Highlights

  • 9-year remaining corporate ground lease with Chili's.
  • No landlord maintenance responsibilities.
  • Chili's has occupied this location since 1998.
  • Prominent outparcel to a grocery-anchored center with 1.7 million annual visits.
  • Adjacent to a top 15% nationwide Kohl's location.
  • Adjacent to a 165+ home residential development.

Property Details for 491 Randall Rd

Property type
Other retail properties, Restaurants
Year Built
1999
Lot Size (sq. ft)
54,886 SF

Location Insight

City
Batavia
County
Kane
State
Illinois
Latitude
41.8586464
Longitude
-88.3412039
491 Randall Rd, Batavia, Illinois

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491 Randall Rd
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