Restaurant
Starbucks
3220 N Lewis Ave, Waukegan, IL 60087
Listing Price: $2,315,000
Investment Overview
Marcus & Millichap is pleased to offer for sale the fee simple interest in a 2,360-square-foot drive-through coffee-shop restaurant (the Property) in Waukegan, Illinois, in which Starbucks Corp. has over eight years remaining on its double-net lease. The lease features a 10 percent rent increase every five years in the firm term and four five-year renewal options.
On a 0.45-acre parcel adjacent to a curb cut onto North Lewis Avenue, the Property sits in a retail plaza anchored by Ace Hardware, with additional neighbors Dollar Tree, Taco Bell and Great Lakes Credit Union. A shopping center anchored by Target and Jewel-Osco supermarket and pharmacy is situated just south, across York House Road. The Property is within one mile of the executive jets at Waukegan National Airport and three miles from Lake Michigan.
Waukegan is within 50 miles of both Chicago and Milwaukee, Wisconsin, and is part of the Chicago MSA. This city has its own executive airport and 700-slip marina on Lake Michigan, as well as access to three Class I railroads, Metra commuter rail, Interstate 94 and U.S. Route 41.
Founded in 1971 and known for sourcing and roasting top-tier whole bean coffees and
offering handcrafted espresso beverages, Seattle-based Starbucks ranks No. 116 on the
Fortune 500 list and maintains a BBB+ credit rating with S&P.
This exclusive opportunity offers an investor both a newer build-to-suit drive-through coffee shop located on a busy retail corridor along with the security of a corporately guaranteed lease.
Starbucks
Investment Highlights
- 8.5 Years Remaining on Corporately Guaranteed Lease, Plus Four Five-Year Renewal Options
- 10 Percent Rent Increase Every Five Years in Firm Term and Renewal Options
- 2023 Build-to-Suit with Drive-Through
- Just North of Over 30,800 AADT Signalized Intersection on Retail Corridor Anchored by Ace Hardware, Target and Jewel-Osco
- Located in the Chicago MSA, Halfway Between Chicago and Milwaukee, with a Population of 150,943 Within Five Miles
- Starbucks Operates Over 31,000 Locations and Brought in $36.17 Billion in Revenue in 2024
Exclusively Listed By
Listing Price: $2,315,000
Investment Highlights
- 8.5 Years Remaining on Corporately Guaranteed Lease, Plus Four Five-Year Renewal Options
- 10 Percent Rent Increase Every Five Years in Firm Term and Renewal Options
- 2023 Build-to-Suit with Drive-Through
- Just North of Over 30,800 AADT Signalized Intersection on Retail Corridor Anchored by Ace Hardware, Target and Jewel-Osco
- Located in the Chicago MSA, Halfway Between Chicago and Milwaukee, with a Population of 150,943 Within Five Miles
- Starbucks Operates Over 31,000 Locations and Brought in $36.17 Billion in Revenue in 2024
Investment Overview
Marcus & Millichap is pleased to offer for sale the fee simple interest in a 2,360-square-foot drive-through coffee-shop restaurant (the Property) in Waukegan, Illinois, in which Starbucks Corp. has over eight years remaining on its double-net lease. The lease features a 10 percent rent increase every five years in the firm term and four five-year renewal options. On a 0.45-acre parcel adjacent to a curb cut onto North Lewis Avenue, the Property sits in a retail plaza anchored by Ace Hardware, with additional neighbors Dollar Tree, Taco Bell and Great Lakes Credit Union. A shopping center anchored by Target and Jewel-Osco supermarket and pharmacy is situated just south, across York House Road. The Property is within one mile of the executive jets at Waukegan National Airport and three miles from Lake Michigan. Waukegan is within 50 miles of both Chicago and Milwaukee, Wisconsin, and is part of the Chicago MSA. This city has its own executive airport and 700-slip marina on Lake Michigan, as well as access to three Class I railroads, Metra commuter rail, Interstate 94 and U.S. Route 41. Founded in 1971 and known for sourcing and roasting top-tier whole bean coffees and offering handcrafted espresso beverages, Seattle-based Starbucks ranks No. 116 on the Fortune 500 list and maintains a BBB+ credit rating with S&P. This exclusive opportunity offers an investor both a newer build-to-suit drive-through coffee shop located on a busy retail corridor along with the security of a corporately guaranteed lease.
Exclusively Listed By
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