April 5, 2023 – Hobart Hare and Spencer Smith of Horvath & Tremblay have successfully completed the sale of Popeyes in Chicago, Illinois. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,538,461.
The Popeyes is located at 4431 S Archer Avenue in Chicago, Illinois. The property consists of 0.36-acres of land improved with a 2,500 square foot building. The building has a brand new 20-year absolute NNN ground lease (sale-leaseback) with four (4), 5-year renewal options. The Operator is a highly awarded franchisee currently operating approximately 375 Popeyes locations. The lease calls for 10 percent rental increases every five years in the base term, as well as at the start of the five (5), 5-year renewal options. The property, which is scheduled for a complete remodel in 2024, is strategically located along S Archer Avenue, the area’s primary commercial corridor. Positioned in the densely developed Brighton Park neighborhood of Chicago, the property benefits from outstanding vehicular and pedestrian traffic and offers convenient access to the Kedzie CTA “L” Station, several municipal bus lines, and Interstate 55.
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.