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Off Market
1/11

1300 Avenue Of Mid America
Effingham, IL 62401


HIGHLIGHTS


OVERVIEW

Chili’s has 12+ years remaining on Absolute NNN lease with attractive rental escalations every 5 years – lesser of 10% of 1.25x of CPI and three 5 year renewal options. The tenant, Brinker International Corporation has more than 1,600 restaurants worldwide under the names Chili’s Bar & Grill and Maggiano’s Little Italy. This asset has been successfully open and operating since 2003 ($300,000+ remodel at tenant’s cost) with an attractive 5.11% rent-to-sales ratio. Chili’s is located in Effingham, Illinois on a large 1.37 acre lot on a pad site to Walmart Supercenter with excellent driveby visibility. Nearby retailers include: Walmart Supercenter, Menards, Kohl’s, Dollar Tree, ALDI, Save-A-Lot, Martin’s IGA Plus, Sears Hometown Store, Goodwill, Maurices, Hibbett Sports, Famous Footwear, Kay Jewelers, AutoZone, O’Reilly Auto Parts, Verizon, AT&T, Walgreens, Sherwin-Williams, etc. The subject location is 4 miles from Kluth Center for Higher Education & Technology and less than 2 miles from HHSC St. Anthony’s Memorial Hospital (133 beds). *In Association with Illinois Local Broker: Travis R. Tarrant, Tarrant & Harman Real Estate and Auction #47106673

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

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TENANCY

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BUILDING DETAILS

PROPERTY NAME

Chili’s: Long Term Absolute NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bank, Fast Food, Freestanding

TOTAL BUILDING SIZE

4656

STORIES

1

YEAR BUILT

2003

SPRINKLERS

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PARKING SPACES

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LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

0311018105