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Restaurant

Steak 'N Shake

151 E Ashland St, Morton, IL 61550

Listing Price: $2,437,143

Cap Rate
7.00%
Tenant Name
Steak ‘n Shake Operations, Inc.
Years Remaining On Lease
4.1
Gross SF
4,360
Guarantor
Corporate Guarantee
Rentable SF
4,360
Price/Gross SF
$558.98
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.13

Investment Overview

Steak ‘n Shake, founded in February of 1934 in Normal, Illinois, is an American casual restaurant chain that offers customers sit-down, drive-thru and front window service, resulting in a hybrid fast-food-to-go and diner-style experience. Morton is a village in Tazewell County, Illinois, home to nearly 17,000 residents and part of the Peoria Metropolitan Area. Located at the intersection of I-74 and I-155 and approximately halfway between Peoria and Bloomington, Morton is a Central Illinois hub with a high quality of life and an engaged business community.

Investment Highlights

  • Absolute Triple-Net (NNN) Lease with Steak 'N Shake - Corporate Guaranty
  • Four Years Remaining on Lease Term with Annual Rental Increases
  • 30,462 Residents in Growing Trade Area - Peoria, Illinois MSA
  • Average Household Income Exceeds $108,000 within a Three Mile Radius
  • Easily Accessible Location Immediately Off I-74 (41,400+ Cars per Day) and North Morton Avenue (19,250+ Cars per Day)
  • Strong Daytime Population with 31,200+ Employees within a Five Mile Radius
  • Situated in Dense Retail Corridor - Walmart, ALDI, Taco Bell, Burger King, Cracker Barrel, Culver's, and More
  • Within 15 Minutes Drive Time from Downtown Peoria, Illinois Central College - East Peoria Campus, and General Wayne A. Downing International Airport

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Restaurant

Steak 'N Shake

Listing Price: $2,437,143

Cap Rate
7.00%
Tenant Name
Steak ‘n Shake Operations, Inc.
Years Remaining On Lease
4.1
Gross SF
4,360
Guarantor
Corporate Guarantee
Rentable SF
4,360
Price/Gross SF
$558.98
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.13

Investment Highlights

  • Absolute Triple-Net (NNN) Lease with Steak 'N Shake - Corporate Guaranty
  • Four Years Remaining on Lease Term with Annual Rental Increases
  • 30,462 Residents in Growing Trade Area - Peoria, Illinois MSA
  • Average Household Income Exceeds $108,000 within a Three Mile Radius
  • Easily Accessible Location Immediately Off I-74 (41,400+ Cars per Day) and North Morton Avenue (19,250+ Cars per Day)
  • Strong Daytime Population with 31,200+ Employees within a Five Mile Radius
  • Situated in Dense Retail Corridor - Walmart, ALDI, Taco Bell, Burger King, Cracker Barrel, Culver's, and More
  • Within 15 Minutes Drive Time from Downtown Peoria, Illinois Central College - East Peoria Campus, and General Wayne A. Downing International Airport

Investment Overview

Steak ‘n Shake, founded in February of 1934 in Normal, Illinois, is an American casual restaurant chain that offers customers sit-down, drive-thru and front window service, resulting in a hybrid fast-food-to-go and diner-style experience. Morton is a village in Tazewell County, Illinois, home to nearly 17,000 residents and part of the Peoria Metropolitan Area. Located at the intersection of I-74 and I-155 and approximately halfway between Peoria and Bloomington, Morton is a Central Illinois hub with a high quality of life and an engaged business community.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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