March 8, 2022 – Matt Nadler, Jason Woods, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Popeyes in Gurnee, Illinois. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,667,667.
The Popeyes is located at 6593 Grand Avenue in Gurnee, Illinois. The property consists of 0.87-acres of land improved with a 3,000 square foot building. The newly constructed restaurant has a brand new 15-year lease with five (5), 5-year renewal options. The operator is a highly awarded franchisee currently operating more than 150 locations. The lease calls for 10 percent rental increases every five years in the base term, as well as in the renewal options. The property is strategically located close to the busy signalized intersection of Grand Avenue (IL Route 132), the area’s primary commercial corridor, and Hunt Club Road. The Property is an outparcel to two large retail centers anchored by Target, Home Depot, Mariano’s, Jewel-Osco, and Best Buy, and is across from Gurnee Mills, the area’s largest enclosed shopping mall with more than 170 stores and restaurants. Additionally, the Property is less than 1-mile from Interstate 94 and is 3 miles from Six Flags Great America, the region’s most popular amusement park.
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.