17W280 22nd St - Restaurant FOR SALE


Oakbrook Terrace, IL 60181
$4,390,000 USD
630-573-7015
17W280 22nd St, Oakbrook Terrace, IL for Sale
$4,390,000 USD
Restaurant - FOR SALE
1/8
null | 6.75% Cap Rate

17W280 22nd St
Oakbrook Terrace, IL 60181


HIGHLIGHTS

  • ROBUST SALES PERFORMANCE
  • LONG-TERM OPERATING HISTORY
  • TOP-PERFORMING LOCATION
  • SIGNIFICANT UPSIDE THROUGH REDEVELOPMENT
  • UNMATCHED VISIBILITY ON PREMIER STREET NEAR DOMINANT MALL
  • ACROSS FROM THE 2ND HIGHEST GROSSING COSTCO IN THE MIDWEST

OVERVIEW

CBRE’s National Retail Partners – Midwest is pleased to present to qualified investors the opportunity to acquire a 100% fee simple interest in a single-tenant Giordano’s located in one of Chicago’s distinguished suburbs of Oak Brook, Illinois (The “Property”). Giordano’s reports strong sales at this location, suggesting a strong probability of tenant renewal. In the unlikely scenario that Giordano elects not to exercise their renewal option, the Property presents a prime redevelopment opportunity in one of Chicago’s most sought-after retail submarkets. Future ownership has the unique ability to collect steady rental income from Giordano’s until their lease expiration while positioning the space for future redevelopment. Oak Brook is an affluent western suburb located approximately 20 miles west of downtown Chicago and is home to the best retail and office environment in the suburban Midwest. The immediate area is surrounded by some of the most desirable residential, office, and retail communities in suburban Chicago, including Elmhurst, Oakbrook Terrace, Hinsdale, LaGrange, Western Springs, and Clarendon Hills. Oakbrook has long been recognized as one of the most prestigious areas to live and work within Suburban Chicago due to its proximity to downtown, dynamic and cutting-edge restaurant and shopping options, quick access to Chicago’s highly developed expressway system, top-ranked school system, and outstanding quality of life.

FOR SALE DETAILS

PRICE

$4,390,000 USD

PRICE/SF

$593 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Giardano's Restaurant

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

79

LAND DETAILS

LAND ACRES

1.66 AC

LAND SF

72,482 SF

ZONING

C

APN/PARCEL ID

06-22-405-021

ASK ABOUT THIS PROPERTY

630-573-7015

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630-573-7015

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