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Restaurant

Hooters

1110 Perimeter Dr, Schaumburg, IL 60173

Listing Price: $4,195,800

Cap Rate
6.50%
Tenant Name
Hooters
Years Remaining On Lease
14.5
Guarantor
Franchisee Guarantee
Rentable SF
5,127
Lease Type
Absolute Net
Rent Per Square Feet
$53.19

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Hooters located at 1110 N Perimeter Drive, Schaumburg, IL. The property contains 5,127 square feet of net leasable area and is situated on 1.25 acres of land. Hooters is subject to a triple-net lease expiring in January 2036. There are three, five-year extension options remaining on the lease. Schaumburg is a northwestern suburb of Chicago, Illinois. This Hooters is located right in front of the renowned Woodfield Mall, with hundreds of shops and restaurants. The mall is one of Schaumburg’s most notable attractions. The first Hooters Restaurant opened in Clearwater, Florida, in 1983. The concept was licensed in 1984 to Hooters of America, and by 1996, there were nearly 200 Hooters restaurants nationwide and systemwide sales had reached more than $300 million. In total, Hooters of America operates and franchises more than 420 Hooters restaurants in more than 40 states and about 30 countries.

Investment Highlights

  • Absolute Triple-Net Lease – Zero Landlord Responsibilities
  • Over 14 Years of Primary Lease Term Remaining
  • Scheduled Rent Increases of 1.5% Annually
  • Average Household Income of $100K+ Within Three-Mile Radius
  • Strong Store Sales
  • Outparcel to Woodfield Mall – Largest Shopping Mall in Illinois
  • Primary Retail Corridor – Surrounded by National Tenants Including: Costco, Macy's, Ikea, HomeGoods and More
  • Primary Retail Corridor – Surrounded by National Tenants Including: Costco, Macy's, Ikea, HomeGoods and More

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Listing Price: $4,195,800

Cap Rate
6.50%
Tenant Name
Hooters
Years Remaining On Lease
14.5
Guarantor
Franchisee Guarantee
Rentable SF
5,127
Lease Type
Absolute Net
Rent Per Square Feet
$53.19

Investment Highlights

  • Absolute Triple-Net Lease – Zero Landlord Responsibilities
  • Over 14 Years of Primary Lease Term Remaining
  • Scheduled Rent Increases of 1.5% Annually
  • Average Household Income of $100K+ Within Three-Mile Radius
  • Strong Store Sales
  • Outparcel to Woodfield Mall – Largest Shopping Mall in Illinois
  • Primary Retail Corridor – Surrounded by National Tenants Including: Costco, Macy's, Ikea, HomeGoods and More
  • Primary Retail Corridor – Surrounded by National Tenants Including: Costco, Macy's, Ikea, HomeGoods and More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Hooters located at 1110 N Perimeter Drive, Schaumburg, IL. The property contains 5,127 square feet of net leasable area and is situated on 1.25 acres of land. Hooters is subject to a triple-net lease expiring in January 2036. There are three, five-year extension options remaining on the lease. Schaumburg is a northwestern suburb of Chicago, Illinois. This Hooters is located right in front of the renowned Woodfield Mall, with hundreds of shops and restaurants. The mall is one of Schaumburg’s most notable attractions. The first Hooters Restaurant opened in Clearwater, Florida, in 1983. The concept was licensed in 1984 to Hooters of America, and by 1996, there were nearly 200 Hooters restaurants nationwide and systemwide sales had reached more than $300 million. In total, Hooters of America operates and franchises more than 420 Hooters restaurants in more than 40 states and about 30 countries.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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