1230 Chicago Ave - Fast Food FOR SALE


Savanna, IL 61074
$1,365,000 USD
949-942-6585
1230 Chicago Ave, Savanna, IL for Sale
$1,365,000 USD
Fast Food - FOR SALE
1/16
null | 6.25% Cap Rate

1230 Chicago Ave
Savanna, IL 61074


HIGHLIGHTS

  • Long-Term NNN Master Lease to J.B. Sullivan’s Inc., d.b.a. as Savanna Station
  • Tenured, Low Rent C-Store and Gas Station with Partial Sublease to McDonald’s Corporation (NYSE: MCD)
  • McDonald’s Sublease is Well Below Market at Just Over $34,000 Per Year
  • us, 1.56 Acre Site Includes a Drive-Thru for McDonald’s and Eight (8) BP Fuel Pumps
  • New Ownership: The J.B. Sullivan’s Grocery Chain and Other Business Units were Acquired by Coborn’s Inc. ($1.4B Revenue) in June 2023
  • McDonald’s has Operated on the Premises since August of 1999

OVERVIEW

SHOP Companies has been exclusively retained to offer for sale Savanna Station, a fuel-stop and convenience store and McDonald’s in Savanna, IL. The property is Master Leased to J.B. Sullivan, Inc. and partially sublet to McDonald’s Corporation (NYSE: MCD). The Master Lease defines the term as equal to the longer of a) 15 years, or b) the entire duration of the McDonald’s Lease, including any exercised options (October 8, 2040, if all options are exercised). The spacious 1.56 acre property includes a drive-thru for McDonald’s and eight (8) fuel pumps. Savanna Station is one of only two gas stations in Savanna. McDonald’s competes with only two other national QSR’s in Savanna (KFC, Subway) and has operated on the premises since August 1999. In May 2023, Coborn’s Inc. acquired the Sullivan’s Foods grocery stores and other business units in northern and central Illinois, the company’s first expansion into the state. In 2022, Coborn’s reported over $1.2 billion in total sales volume across its diverse line of 135 business units. In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307

FOR SALE DETAILS

PRICE

$1,365,000 USD

PRICE/SF

$218 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Savanna Station - Savanna, IL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.56 AC

LAND SF

67,954 SF

ZONING

-

APN/PARCEL ID

08-07-11-100-032

ASK ABOUT THIS PROPERTY

Scott ReidParaSell, Inc.More Info
949-942-6585

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Scott ReidParaSell, Inc.More Info
949-942-6585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.