Investment Overview

The property boasts a newly extended 15-year ground lease, corporately guaranteed by Wendy’s, which has been a tenant since 1988. This site reflects a long operating history and strong reported sales (contact agent for details). The interior and exterior were renovated in 2016, and the lease features below-market rents at $26.60 per square foot, offering rental increases every five years along with four five-year options that include 10% rental increases. A drive-thru on the premises adds value and flexibility for existing or future tenancy. The property is an outlot to Pebblewood Center, which attracts over half a million visitors annually, according to placer.ai. Pebblewood Center is anchored by Dollar Tree and Anytime Fitness, creating a steady stream of customer traffic. Strategically located on a heavily traveled major north-south thoroughfare near Interstate 88, the property benefits from high visibility and accessibility, with 131,500 vehicles passing daily near the Interstate 88 interchange and 49,100 vehicles passing daily along Route 59. Situated in an infill, affluent area with significant population growth, the property is surrounded by 70,632 residents within three miles, experiencing a 9.33% growth within one mile from 2010 to 2020, and projecting an additional 2.06% growth by 2028. The average household income within five miles is $143,762. The area is also a hub for employment, with 18,155 people working within one mile and proximity to large corporations such as Ecolab & Nalco Water (1,300 employees), Eby-Brown (600 employees), and Sikich (280 employees). Within a 1.4-mile radius, the property is near one of Naperville’s major industrial corridors, Route 59’s Metra BNSF Train Station—which served over 6.16 million passengers in 2023, marking a 36% year-over-year increase—and Nicor Gas with 2,140 employees. The surrounding amenities include entertainment options like Top Golf and WhirlyBall, various hotels such as Hotel Arista and Tru by Hilton, and retailers including Panera, Starbucks, McDonald’s, and Chase Bank.