June 24, 2021 – Zach Smith of Horvath & Tremblay has successfully completed the sale of Checkers in Chicago, Illinois. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $1,925,000.
Checkers is located at 4320 W North Avenue in Chicago, Illinois. The stand-alone building consists of 1,947 square feet and sits on a 0.31-acre lot, and benefits from a drive-thru and 18-parking spaces. Checkers has approximately 7 years remaining on a long-term Absolute NNN lease that has six, 5-year renewal options. The lease calls for 10% rent increases every five years throughout the base lease term and at the start of each renewal option. The property is situated at a signalized intersection and near the confluence of North Avenue, Grand Avenue, and Kostner Avenue, with over 50,400 combined vehicles per day. North Avenue is one of Chicago’s most recognizable east-west thoroughfares, stretching 8 miles east to North Avenue Beach / Lake Michigan and downtown Chicago. The Checkers site features a full-access curb-cut and additional exit-only egress along North Avenue. Additional ingress and egress is provided along Lowell Avenue. North-Grand High School is located 3 minutes North of the Checkers and has 1,011 students enrolled, contributing to the foot traffic of the dine-in experience at this Checkers. The Grand/Cicero Metra line station is just less than 1 mile Northwest of the property, which gives customers easy access to the site and the surrounding areas, adding to the dense local demographic with its 62,780 passengers per year.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.