Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a well-located single tenant drive-thru Taco Bell with a long term absolute NNN fee simple lease in the ever-improving city of Waukegan, Illinois. The tenant has over 11 years remaining on their initial 20 year lease with annual increases and options to extend. The operator is Bell Great Lakes LLC which operates over 60+ locations under the umbrella of the 2nd largest Taco Bell operator Bell America (200+ Units) Bella America is a subsidiary of Flynn Restaurant Group ranked the number one restaurant company in the nation with over 2,700 restaurants comprised of Pizza Hut, Applebee’s, Arby’s, Wendy’s, Panera Bread and Taco Bell. The subject property is comprised of a 2,600 square foot drive-thru building situated upon 30,492 square feet of land as part of a larger shopping center along Belvidere Road. Access to the center is excellent with several curb cuts and a solid reciprocal easement agreement between all the properties. The subject property dominates the frontage of Belvidere Road a main corridor in the city. Belvidere Road is a major thoroughfare that converges with Highway 120 with over 25,000 Cars Per Day and also connects with Highway 41 to the suburbs of North Chicago. The city of Waukegan can be described as a growing industrial suburb with excellent distribution capabilities which is why it has attracted major technology, distribution and medical industry companies such as Amazon, FedEx, Abbott Labs, Medline, AbbVie Pharmaceutical, Thermoflex to name a few. Major essential retailers surrounding the site are Home Depot, Dollar Tree, Walgreens, Extra Space Storage, IHOP, Pizza Hut, Dunkin’, Little Caesars, PNC Bank, AutoZone, Family Dollar, Checkers, Burger King, McDonald’s and Wendy’s. The subject property is also located 1.5 Miles east of Massive Tourist Destination Fountain Square which recently became home to the new American Place Casino (1640 slots machines & 100+ table games, sports betting, a 1,500 seat entertainment venue, 20 room boutique hotel and heliport). All this activity is due to the excellent demographics surrounding the site with a five-mile demographics of over 164,579 people with average household income of $89,922.