September 2, 2022 – Mark Heidecke of Horvath & Tremblay has successfully completed the sale of KFC in Chicago, Illinois. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $1,474,000.
KFC is located at 6040 South Archer Avenue in Chicago, Illinois. The stand-alone single tenant building consists of 2,555 square feet and sits on a 0.50-acre parcel with a drive thru. KFC has a long operating history at the location and signed a new, 10-year lease at the Property in 2022. The absolute triple-net lease currently has 9+ years of term remaining plus three 5-year renewal options. The lease includes an attractive 10% rent increase every 5 years throughout the primary lease term and at the start of each option period. The KFC lease is guaranteed by KBP Foods which operates approximately 820 locations in twenty-seven (27) states. The Property is situated at the intersection of S Monitor Avenue and S Archer Avenue, one of the primary commercial corridors in the area with traffic counts in excess of 21,000 vehicles per day. KFC is surrounded by national retailers and businesses along S Archer Avenue and is situated in a densely populated residential neighborhood creating a built-in customer base. Additionally, the Property is 0.1-miles from a Jewel-Osco and is approximately 1.5-miles from Chicago Midway International Airport.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the 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.