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Single Tenant Net Leased Restaurant

1055 N Lake St

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Aurora, IL 60506

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Single Tenant Net Leased Restaurant

1055 N Lake St

Aurora, IL 60506

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Contact Advisor

Square
Joel Miller, CCIM Senior Advisor, Retail Services
SVN | Landmark Commercial Real Estate

joel.miller@svn.com
(C) 630.270.6949
(O) 630.938.4950
(F) 630.938.4960

 


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Sale Overview

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For Sale
Price:
$870,000
Building Size:
4,656 SF
Property Type:
Retail
Total Lot Size:
1.72 Acres
Year Built:
1963
Download Offering Memorandum
 


Highlights

  • Single Tenant Net Leased Iconic Restaurant
  • Tenant In Place for More Than 17 Years. New Lease Extension.
  • Strong Visibility on IL Route 31
  • Excellent Area Retail Co-Tenancy
  • Dense Population in Illinois' 2nd Largest City
  • Generous Parking for more than 120 Cars on 1.72 Acre Lot

Description

The subject property is a freestanding 4,656 SF restaurant building on 1.72 acres leased to Nikarry's Restaurant with a newly executed long term lease extension demonstrating the tenant's commitment to the location. Nikarry's is a staple of the community and has occupied the present location for more than seventeen years providing an investor with a stable return. 2016 Taxes: $13,050.64.

Property can be combined with adjacent 4.91 Acre wooded parcel currently zoned M1.

The property is located on Lake St (Route 31) just south of Indian Trail Rd in a vibrant commercial district in Aurora, Illinois' second largest city. The property is adjacent to McDonalds, and close to Northgate Shopping Center, Cermak Produce, Carson Pirie Scott, TJ Maxx, Ross, Long John Silvers, Taco Bell, White Castle, Walgreens and many other regional and national retailers.