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Restaurant

Hooters | 16+ Years | High Volume Location

15300 South La Grange Road, Orland Park, IL 60462

Listing Price: $5,142,857

Cap Rate
5.25%
Tenant Name
Hooters
Years Remaining On Lease
16.3
Guarantor
Corporate Guarantee
Rentable SF
8,624
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.31

Investment Overview

Marcus & Millichap is pleased to present Hooters Restaurant located in Orland Park, Illinois. This global, internet-resistant tenant has 430 locations in 42 states and 29 countries. The Hooters lease is a triple-net, corporately guaranteed lease with 16 years remaining on lease. There is 10 percent rental increases every five years with two, five-year options remaining. The only landlord responsibility is paying for taxes and getting reimbursed by tenant. Long operating history with Hooters, has operated at this location since 1993. Highly successful location. This Hooters ranked as the top restaurant in Illinois. Ranked in the 96th percentile for overall chain ranking*. Low rent-to-sales ratio. Located at a hard-corner, signalized intersection on 1.72 acres. Super regional retail corridor along La Grange Road. Situated across from Orland Square Mall | 1.2 million square feet of retail anchored by Macy’s, Von Maur and JCPenney. Adjacent to Whole Foods, Advance Auto Parts, Darvin Furniture, Men’s Warehouse, Party City, Dave & Buster’s, Duluth Trading Company, Michael’s, Trader Joe’s, and much more. Located on heavily-traveled La Grange Road with 44,500 vehicles passing per day, heavily populated, affluent area with a population within five miles of subject property is 160,249 with a daytime population of 149,636. The average household income within five miles is $117,917.

Investment Highlights

  • Global, Internet-Resistant Tenant | Hooters, Incorporated
  • Triple-Net, Corporately Guaranteed Lease | 16 Years Remaining on Lease | Ten Percent Rental Increases Every Five Years
  • Long Operating History | Hooters has Operated at This Location Since 1993
  • Highly Successful Location | Top Hooters Restaurant in Illinois
  • Low Rent to Sales Ratio
  • Hard-Corner Signalized Intersection on 1.72 Acres
  • Super Regional Retail Corridor Along La Grange Road | Located on Heavily Traveled La Grange Road | 44,500 Vehicles Passing per Day
  • Heavily Populated, Affluent Area

Exclusively Listed By

Restaurant

Hooters | 16+ Years | High Volume Location

Listing Price: $5,142,857

Cap Rate
5.25%
Tenant Name
Hooters
Years Remaining On Lease
16.3
Guarantor
Corporate Guarantee
Rentable SF
8,624
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.31

Investment Highlights

  • Global, Internet-Resistant Tenant | Hooters, Incorporated
  • Triple-Net, Corporately Guaranteed Lease | 16 Years Remaining on Lease | Ten Percent Rental Increases Every Five Years
  • Long Operating History | Hooters has Operated at This Location Since 1993
  • Highly Successful Location | Top Hooters Restaurant in Illinois
  • Low Rent to Sales Ratio
  • Hard-Corner Signalized Intersection on 1.72 Acres
  • Super Regional Retail Corridor Along La Grange Road | Located on Heavily Traveled La Grange Road | 44,500 Vehicles Passing per Day
  • Heavily Populated, Affluent Area

Investment Overview

Marcus & Millichap is pleased to present Hooters Restaurant located in Orland Park, Illinois. This global, internet-resistant tenant has 430 locations in 42 states and 29 countries. The Hooters lease is a triple-net, corporately guaranteed lease with 16 years remaining on lease. There is 10 percent rental increases every five years with two, five-year options remaining. The only landlord responsibility is paying for taxes and getting reimbursed by tenant. Long operating history with Hooters, has operated at this location since 1993. Highly successful location. This Hooters ranked as the top restaurant in Illinois. Ranked in the 96th percentile for overall chain ranking*. Low rent-to-sales ratio. Located at a hard-corner, signalized intersection on 1.72 acres. Super regional retail corridor along La Grange Road. Situated across from Orland Square Mall | 1.2 million square feet of retail anchored by Macy’s, Von Maur and JCPenney. Adjacent to Whole Foods, Advance Auto Parts, Darvin Furniture, Men’s Warehouse, Party City, Dave & Buster’s, Duluth Trading Company, Michael’s, Trader Joe’s, and much more. Located on heavily-traveled La Grange Road with 44,500 vehicles passing per day, heavily populated, affluent area with a population within five miles of subject property is 160,249 with a daytime population of 149,636. The average household income within five miles is $117,917.

Exclusively Listed By

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