Restaurant

Burger King

11740 Illinois Rte 59, Plainfield, IL 60585

Listing Price: $2,016,231

Cap Rate
7.50%
Tenant Name
Burger King
Years Remaining On Lease
7.1
Guarantor
Franchisee Guarantee
Rentable SF
3,101
Lease Type
Absolute Net
Rent Per Square Feet
$48.76

Investment Overview

Marcus & Millichap is pleased to present for sale Burger King a single-tenant net-leased property located at 11740 South Route 59, Chicago (Plainfield), Illinois 60585. The subject property is comprised of 3,101 square feet and was built in 2008. The building sits on a moderate 35,283 square foot lot with frontage on South Route 59 that oversees 33,000+ Vehicles Per Day. Burger King is operated by Tri City Foods, Inc. and is backed by a 250+ Unit guaranty. Burger King has operated at this site since 2008 and has 8 years remaining on its initial term with One, 10-year option to extend the term. The current lease calls for 1.5% increases annually including the One, 10-year option. Founded in 2003, Tri City Foods operates over 250 restaurants located in eight Midwestern states. Historically, they have grown through a combination of new restaurant development and strategic acquisitions to become the second-largest Burger King franchisee with annual revenues exceeding $420 million. Tri City Foods, Inc. is majority-owned by GSO Capital Partners, LP, a New York based investment group, and Todd Bartmess Tri City Foods, Inc.’s President and Chief Executive Officer. Tri City Foods, Inc. has a proven record of acquiring distressed, underperforming restaurants, and turning them into well run profitable restaurants. This is accomplished through facility upgrades, the implementation and maintenance of a rigorous set of operating controls, the establishment of a culture of ethics and accountability along with focused training to ensure food safety and quality, exceptional service, and overall speed of service.

Investment Highlights

  • Absolute-Net Lease: 8 years remaining on the initial 20-year term with one, ten-year option to extend the term
  • Strong Franchisee Guaranty: Tri City Foods is a 250+ unit guaranty and the second-largest Burger King franchisee int he United States
  • Excellent Access / Visibility: Burger King is located just off south Illinois route 59 with a vehicle count of 33,000+ vehicles per day

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

Listing Price: $2,016,231

Cap Rate
7.50%
Tenant Name
Burger King
Years Remaining On Lease
7.1
Guarantor
Franchisee Guarantee
Rentable SF
3,101
Lease Type
Absolute Net
Rent Per Square Feet
$48.76

Investment Highlights

  • Absolute-Net Lease: 8 years remaining on the initial 20-year term with one, ten-year option to extend the term
  • Strong Franchisee Guaranty: Tri City Foods is a 250+ unit guaranty and the second-largest Burger King franchisee int he United States
  • Excellent Access / Visibility: Burger King is located just off south Illinois route 59 with a vehicle count of 33,000+ vehicles per day

Investment Overview

Marcus & Millichap is pleased to present for sale Burger King a single-tenant net-leased property located at 11740 South Route 59, Chicago (Plainfield), Illinois 60585. The subject property is comprised of 3,101 square feet and was built in 2008. The building sits on a moderate 35,283 square foot lot with frontage on South Route 59 that oversees 33,000+ Vehicles Per Day. Burger King is operated by Tri City Foods, Inc. and is backed by a 250+ Unit guaranty. Burger King has operated at this site since 2008 and has 8 years remaining on its initial term with One, 10-year option to extend the term. The current lease calls for 1.5% increases annually including the One, 10-year option. Founded in 2003, Tri City Foods operates over 250 restaurants located in eight Midwestern states. Historically, they have grown through a combination of new restaurant development and strategic acquisitions to become the second-largest Burger King franchisee with annual revenues exceeding $420 million. Tri City Foods, Inc. is majority-owned by GSO Capital Partners, LP, a New York based investment group, and Todd Bartmess Tri City Foods, Inc.’s President and Chief Executive Officer. Tri City Foods, Inc. has a proven record of acquiring distressed, underperforming restaurants, and turning them into well run profitable restaurants. This is accomplished through facility upgrades, the implementation and maintenance of a rigorous set of operating controls, the establishment of a culture of ethics and accountability along with focused training to ensure food safety and quality, exceptional service, and overall speed of service.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

MM Texture Background
MM Textured Background Lower