87 Yorktown Shopping Ctr - Restaurant FOR SALE


Lombard, IL 60148
$7,990,000 USD
817-889-1829
87 Yorktown Shopping Ctr, Lombard, IL for Sale
$7,990,000 USD
Restaurant - FOR SALE
1/17
null | 5.84% Cap Rate

87 Yorktown Shopping Ctr
Lombard, IL 60148


HIGHLIGHTS

  • RENOWNED 7 YEAR TERM EARLY AND SHORTLY AFTER EXERCISED FIRST 5 YEAR OPTION
  • PRIME LOCATION IN DOMINANT RETAIL CORRIDOR
  • EXCEPTIONAL VISIBILITY AND HIGH TRAFFIC COUNTS
  • 10% INCREASES AT EACH OPTION
  • HUGE DAYTIME POPULATION (Est. 217,000
  • DUPAGE COUNTY SUBMARKET:

OVERVIEW

RENEWED 7 YEAR TERM EARLY AND SHORTLY AFTER EXERCISED FIRST 5-YEAR OPTION: Capital Grille has been a tenant at this location for over 18 years and reports strong sales and an extremely healthy occupancy cost/rent-to-sales ratio. Capital Grille is a subsidiary of Darden Restaurants which has a BBB/Stable rating by Standard & Poor’s. The restaurant has shown a strong commitment to the site and trade area with an early seven-year extension and 544-square-foot patio expansion. The lease has over 9+ years of term remaining and two additional five-year options to extend. Please contact brokers for more information on reported sales. PRIME LOCATION IN DOMINANT RETAIL CORRIDOR: Capital Grille is located at the most coveted retail intersection in DuPage County and is in the heart of the Butterfield Road retail corridor that stretches two miles from Route 355 at the west to Meyers Road to the east. Prominent national box retailers nearby include Best Buy, Dick’s Sporting Goods, The Dump, HHgregg, Bed Bath & Beyond, PetSmart, BuyBuy Baby, Duluth Trading Company, Kohl’s, PGA Tour Superstore, Art Van Furniture, and The Home Depot. EXCEPTIONAL VISIBILITY AND HIGH TRAFFIC COUNTS: Capital Grille is situated with excellent access and visibility at the hard corner of Butterfield Road and Highland Avenue (Combined Traffic Count: 59,100 VPD). Furthermore, the restaurant is located proximate to the ingress/egress of Interstate 88 (172,200 VPD) and 355 (129,500 VPD). IRREPLACEABLE LOCATION: Capital Grille is an outparcel to Yorktown Center. Yorktown Center is a 1.5 million square foot multi-level enclosed mall which anchors the retail corridor and attracts over 9 million visitors annually. The mall features over 150 retailers and 20 restaurants and is anchored by Von Maur, Carson’s, and JCPenney. Additional retailers at the mall include H&M, Gap, Forever 21, Francesca’s, LOFT, Victoria’s Secret, Last Chance (Nordstrom Brand), Marshalls, and HomeGoods. Also, a 50,000-square foot tenant is scheduled to open in late 2018. The mall and outparcel tenants generate $266 million in combined sales. HUGE DAYTIME POPULATION: Capital Grill is situated in the in the East-West Tollway office corridor (41 million square feet of office space) that creates a surge in its daytime population with over 217,000 workers within a five-mile radius of the Property. This dominant office corridor creates a surge in the area’s daytime population that greatly benefits the restaurant’s traffic. INCREASING DENSIFICATION: The trade area’s daytime population is also strengthened by residential growth in the area. There are currently two multi-family projects recently developed by Greystar adjacent to Yorktown Center’s ring road brought 470 new units to the market. INFILL UPSCALE DEMOGRAPHICS: The primary three-mile trade area has an excellent, dense, and affluent demographic profile, with a population of 87,524 residents. The trade area includes the communities of Downers Grove, Elmhurst, Hinsdale, Lombard, Oak Brook, Oakbrook Terrace, Villa Park, and Westmont. This affluent area has an average household income of $108,820 – 28% higher than the U.S. national average. DUPAGE COUNTY SUBMARKET: Capital Grille is situated at the border of two affluent communities – Lombard and Downers Grove – approximately 20 miles west of downtown Chicago, 11 miles southwest of O’Hare International Airport, and 15 miles northwest of Midway International Airport. DuPage County is the second largest county in the Chicago MSA with a total population of 940,072 and has the second highest income in the state of Illinois.

FOR SALE DETAILS

PRICE

$7,990,000 USD

PRICE/SF

$874 USD /SF

CAP RATE

5.84%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Capital Grille | Absolute NNN 9+ Year

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

69

LAND DETAILS

LAND ACRES

1.85 AC

LAND SF

80,586 SF

ZONING

B3

APN/PARCEL ID

06-29-301-015

ASK ABOUT THIS PROPERTY

Benjamin BerkowitzColonial Commercial Real Estate, LLCMore Info
817-889-1829

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Benjamin BerkowitzColonial Commercial Real Estate, LLCMore Info
817-889-1829

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